Credit Guarantee

The Poznanian Credit Guarantee Fund Ltd. grants guarantees in accordance with civil law. Detailed terms and procedures for granting guarantees as well as the terms of the Fund’s liability are regulated by By-laws of the Fund and co-operation agreement between the PFPK and banks.

Who can become the PFPK customer:

Micro, small and medium entrepreneur (MSP), i.e. an entrepreneur that employs not more than 250 people and that its annual revenue is not higher than 40 million Euros.
And an entrepreneur who:
has been running a business in a non-rural sector for a shorter time period than 6 months, especially in production, service and construction sectors.
has a Head Office, runs a business and makes investments at the area of Wielkopolskie voivodship
keeps an accounting system pursuant to applicable regulations
performs obligations in a timely manner to the Social Insurance Institution and local authorities

The PFPK guarantees are given to the entrepreneurs who are in cooperation with the banks that liaise with the Fund (PKO Bank Polski) and to those customers who apply for obtaining a credit but lack sufficient collateral.
Guarantees are given to the entrepreneurs who are creditworthy.

Object of a guarantee
A guarantee can embrace: operating credits that are intended to finance enterprise’s activity as well as investments credits intended for purchase of machines and devices, means of transport, real estates and renovation.

Poręczeniem nie mogą być objęte:

Credits and loans that are granted for non-economic purposes
Credits that are raised for financing lease activity
Credits and loans that are raised by a natural person
Credits raised in any other currency than zloty (PLN)

Guarantee conditions

For guarantees granted by the PFPK Ltd. the maximum level of a guarantee amounts to 60% of the value of the credit, whereas if guarantees are jointly granted by the PFPK Ltd. and the SFPK Ltd., the maximum level of a guarantee amounts to 80% of the value of the credit.
When the guarantee is granted by the PFPK Ltd. the amount of a guarantee cannot exceed 650,000,00 zloty, whereas when the PFPK Ltd and the SFPK Ltd jointly grant a guarantee, the amount of a guarantee cannot exceed 935,000,00 zloty.
The guarantee is granted for the credit repayment period, which can be extended for a month, provided that the maximum guarantee period does not exceed the period of 5 years.
The guarantee period can be extended in the form of annex.

The Fund’s liability excludes:

costs of completion and administration of an agreement
costs of establishing collaterals
penalty interests and statutory interests
contractual fines
administration fees and costs connected with claiming receivables by a guarantee recipient

Procedure for granting a guarantee

An application form for granting a credit is submitted to the bank by an entrepreneur.
2. The bank verifies credit worthiness of the entrepreneur and suggests credit collateral in the form of a Fund guarantee.
The application form and the written statement with the consent of presenting documents to the Fund (both enclosed to a credit application), ought to be submitted by the entrepreneur in person or through the bank.
Necessary documents needed for carrying out a creditworthiness and guarantee evaluation of the entrepreneur, are presented to the Fund by the bank.
PFPK analysts verify the creditworthiness and guarantee evaluation of the entrepreneur and then the proposal of guarantee terms and conditions is submitted to the Fund’s Management Board.
After the Customer Service Board decision, the PFPK prepares a full set of documents required to conclude the guarantee agreement with the entrepreneur
The aforementioned agreement is signed by the entrepreneur in the bank or at the PFPK Head Office. This agreement is usually signed parallel to a credit agreement.
A commission fee on granting a guarantee is covered by the entrepreneur.
The guarantee documents are handed down to the bank, and this results in activating collateral in the form of the PFPK guarantee and enables the entrepreneur to get access to credit funds.

Step by step

Procedure for granting a guarantee

An application form for granting a credit is submitted to the bank by an entrepreneur.
2. The bank verifies credit worthiness of the entrepreneur and suggests credit collateral in the form of a Fund guarantee.
The application form and the written statement with the consent of presenting documents to the Fund (both enclosed to a credit application), ought to be submitted by the entrepreneur in person or through the bank.
Necessary documents needed for carrying out a creditworthiness and guarantee evaluation of the entrepreneur, are presented to the Fund by the bank.
PFPK analysts verify the creditworthiness and guarantee evaluation of the entrepreneur and then the proposal of guarantee terms and conditions is submitted to the Fund’s Management Board.
After the Customer Service Board decision, the PFPK prepares a full set of documents required to conclude the guarantee agreement with the entrepreneur
The aforementioned agreement is signed by the entrepreneur in the bank or at the PFPK Head Office. This agreement is usually signed parallel to a credit agreement.
A commission fee on granting a guarantee is covered by the entrepreneur.
The guarantee documents are handed down to the bank, and this results in activating collateral in the form of the PFPK guarantee and enables the entrepreneur to get access to credit funds.

Documents required for a guarantee

The Fund relies on materials and documents submitted to a bank by an entrepreneur. The bank presents the documents to the Fund upon the entrepreneur’s authorisation. For this particular purpose the entrepreneur submits the statement and the application form for a guarantee (with the attachments) to the bank. (Statement and the applications can be created
on-line.) The Fund does not require any others documents except the aforementioned ones.

Online application form

By-laws of the PFPK guarantees

More documents...

The procedure of signing an agreement

The Fund takes on an obligation to grant a credit guarantee on the credit granted by the bank, at the entrepreneur’s request.
The contract of mandate of the guarantee is signed parallel to a credit contract (on the same day), and in accordance with the will of the parties the documents can be signed at the bank branch or at the Fund’s Head Office. The credit may be conditionally granted by the bank, provided that the Fund guarantee is obtained before the release of funds. Aforementioned procedure is often applied within the scope of raising credit limits. Collateral for the PFPK is set in the form of a blank promissory note which is issued by the entrepreneur.

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