The role of a professional in preparing an application to the Industrial Development Agency
Companies at risk of insolvency usually find it difficult to obtain financing in traditional “market” forms. (e.g. by taking a credit or loan). State aid may then be the only available opportunity to raise additional capital and may be crucial to avoid bankruptcy.
New Chance Policy
Such assistance is provided under the “New Chance Policy” program. It is planned to spend 120 million zlotys per year on it. These funds will certainly not be enough to help all companies in difficulty. Their allocation will be determined by the substantive assessment of the projected corrective actions and the accuracy of the diagnosis made in the application. Therefore, it is crucial to make a correct and convincing application. You can read more about the forms of support in the entries: Industrial Development Agency – benefits for entrepreneurs and forms of support provided by Industrial Development Agencies.
Support from a professional
Support in this area is offered by us – restructuring advisors in cooperation with financial advisors. Within the framework of the assistance we offer, we provide a diagnosis of the current financial situation of the company and the characteristics and assistance in making a decision on the most appropriate type of support available (rescue aid, temporary restructuring support or restructuring aid).
Then we will help to prepare the necessary information and attachments to the application so that they meet the standards required by the Industrial Development Agency (IDA); we will advise on drawing up a justification for applying for aid from IDA and indicate the restructuring activities that can be financed from the obtained funds. At the further stages of the corrective actions, we will help to prepare a detailed restructuring plan for the company in danger, a cost estimate and a schedule for its implementation. We will advise on the extent to which public aid can be combined with other actions aimed at repairing a debtor in danger of bankruptcy and how to improve current liquidity in the long term.
The role of the professional
Our role as specialists in restructuring processes therefore boils down to broadly understood support and may significantly increase the chances of obtaining financing from public aid and, at the same time, of saving the company.