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The Government of the Czech Republic enacts a zero-interest loan for business owners

The aim of this loan is to allow small and medium sized businesses to fund their operations in response to the Covid19 crisis

The Government of the Czech Republic enacts a zero-interest loan for business owners Source: Adobe Stock

On 16.03 the national COVID loan program has been set into motion. The aim of this joint program of the Czech-Moravian Guarantee and Development Bank (ČMZRB) and the ministry of industry and trade (MPO) is to allow small and medium sized businesses to fund their operations in response to the Covid19 crisis.

What does the loan entail?

  • A loan with zero interest and no fees
  • The scale of the granted loans ranges from a minimum amount of 500,00 CZK and a maximum amount of 15 million CZK
  • Up to 90% of business-related project expenses can be covered under this loan
  • A two-year repayment term with the option of starting repayment after 12 months

The loan can be used for obtaining essential physical materials, financing reserves and covering any other business-related expenses. The administration and granting of this loan do not entail any additional fees. All applicants that have had their business activities adversely affected by the recent Covid19 emergency measures are eligible for this loan. All applications can be submitted from the 1st of April onwards.

For further information on the application process, you can call the following help line +420 246 017 397 or visit ČMZRB website (in Czech only).