The Government of the Czech Republic enacts the COVID III warranty program,The aim of this program is to support firms with up to 500 employees whose economic activities have been affected by the Coronavirus outbreak.
What type of warranty is offered?
- Up to 90% of the principal of a guaranteed loan for companies with up to 250 employees
- Up to 80% of the principal of a guaranteed loan for companies with 250 to 500 employees
- The maximum amount of the guaranteed loan may not exceed CZK 50 million
- A maxim liability period of 3 years
The support program is administered in the form of a ČMZRB (Czech Moravian Guarantee Development Bank) guarantee to the cooperating bank regarding the portfolio of transactions of the final beneficiaries.
What can this loan be used for?
This loan can be used for covering operational expenses, such as wages, rent, energy payments, customer or supplier invoices, inventory acquisition etc.
Who is this program intended for?
The program is intended for entrepreneurs and companies with up to 500 employees, whose economic activities have been affected by the Coronavirus outbreak.
The applicant can apply in the form of a loan application with one of ČMZRB’s cooperating banks.
For further information on the application process, you can call the following help line at +420 246 017 397 or visit ČMZRB website (in Czech only). For a list of cooperating banks, you can find out more here. (pfd, 205 kB)