We are well aware that some of you struggle with financing your operating costs. Therefore, we thoroughly monitor for you every day the situation concerning the state loan program COVID. Below, please find the latest information regarding the program COVID II.

Although minister Havlicek announced last Thursday that the acceptance of applications would start today, the program is actually not expected to start sooner than on 2. 4. 2020. The reason for this is that the conditions have not fully been agreed upon.

Unfortunately, one of the points which has not been decided yet is, if the application for guarantee will be submitted to the commercial bank together with the loan application or if it is to be addressed to the Czech-Moravian Guarantee and Development Bank (ČMZRB). In addition, it is so far unclear if all commercial banks will provide loans in the full scope permitted within the program COVID II. So far, the following about the program COVID II is confirmed:

  • It will provide guarantees for loans provided by commercial banks together with a contribution to the payment of interest therefrom up to CZK 1 million.
  • The guarantee will be provided for loans from CZK 10.000,- up to CZK 15.000.000,-.
  • The guarantee is provided up to 80% of the amount of the principal for a maximum period of 3 years.
  • The loans shall be provided for the financing of operating costs.
  • The program is open to small and medium size entrepreneurs (i.e. not for companies with more than 250 employees, higher turnover than 50 million EUR or a yearly balance sum higher than 43 million EUR).
  • The program is open to entrepreneurs, who had to limit or close their business operations because of the emergency measures against spreading of the illness Covid-19.

The guidelines of the program COVID II should be published today or at the latest tomorrow. It is expected that most of the forms will be the same or very similar to the forms used in the program COVID I. As in the case of COVID I, it should not be necessary to accompany the submission of the application with all attachments.

As soon as the guidelines will be published, we will provide you with more information.