Act on granting public aid for rescuing or restructuring entrepreneurs signed
The President signed the Act of 16 July 2020 on granting public aid for rescuing or restructuring entrepreneurs, which should take effect from August 2020. The budget reserved PLN 120 million for companies with financial problems.
The aid is available to entrepreneurs in bankruptcy or those aiming at liquidation. The funds are to be used for restructuring and liquidity support. The support is addressed to small, medium and large entrepreneurs. The aid will be granted in the form of loans granted by Industrial Development Agencies, in accordance with European Commission guidelines.
In addition to the loan, the entrepreneurs may also count on a public-law debt relief with an estimated value of PLN 50 million per year.
Restructuring support will depend on the individual situation of a given entrepreneur. Temporary aid is to apply to entrepreneurs who need financial liquidity support to carry out restructuring.