Crédit Agricole Bank Polska supports entrepreneurs

The current situation shows how important reliability and transparency are in business. We want to support our corporate clients in these unforeseen events, being their trusted partner. Support for entrepreneurs is a recipe for efficient maintenance of the economy at a level allowing to provide employees and their families with income and peace in a period of stagnation - says Philippe Enjalbal, Vice-President of the Management Board of Credit Agricole Bank Polska.

All corporate clients (except companies in bankruptcy/sanation, restructuring and reduced creditworthiness at the end of 2019) can apply to Credit Agricole for a 6-month deferral of the amortized loan with instalments due by June 30. Customers may also apply for a 6-month extension of the loan agreement with maturities up to 30 June.

The Bank also reminds that corporate clients have the possibility to send in electronic form, via the CA24 Biznes service, any instruction with the use of an electronic qualified signature, concerning, among others, a bank account or transfers. There is also an option of sending instructions to change user rights authorised within CA24 Biznes. Clients may also electronically send orders and applications in the area of trade finance through the Trade Finance module in CA24 Biznes, issue e-Guarantees, and exchange currencies on the FX CALL platform at attractive prices.

Small and medium-sized companies and agricultural entrepreneurs can also apply to CABP for a 6-month suspension of the repayment of the principal or interest part of the installment and suspension of the overdraft limit, while retaining the repayment of interest itself. The Bank has launched a remote overdraft renewal process without the need for the client to meet with an advisor, and has modified the processes related to the establishment of collaterals in order to adapt them to the locally reduced availability of some offices.

- It is very important to give companies a sense of stability in this uncertain period. We are closely monitoring the market situation, both nationally and globally. We will adapt our solutions to the needs and capabilities of our customers, while ensuring liquidity and financial security," stresses Damian Ragan, Vice-President of Credit Agricole Bank Polska.

Together with Bank Gospodarstwa Krajowego (BGK), Credit Agricole offers additional security for companies which have found themselves in a difficult financial situation due to the coronavirus epidemic. For corporate clients, collateral offered under the Liquidity Guarantee Fund is available, covering the outstanding amount of the loan principal, excluding interest and costs related to the loan granted.

For SME and AGRO customers, the Bank applied to BGK for a new limit for de minimis guarantees, biznesMax and FGR, with which entrepreneurs can secure repayment of their loans up to 80% of the amount of used loan, without additional commission. The Bank is also working on the implementation of an application for financial subsidies offered under the PFR Financial Shield for Small and Medium Enterprises with a mechanism to compensate for damages related to the coronavirus epidemic.