The Financial Shield – Definitions changing day to day
Entrepreneurs and lawyers alike agree that the financial shield presents the most attractive aid package for companies. The problem, however, is that many may find it difficult to actually avail themselves of it, in that the definition of micro-enterprises, small, and medium-sized enterprises adopted for purposes of the aid package has changed drastically in the first days following its roll-out.
The financial shield for micro-enterprises, small, and medium-sized enterprises administered by the Polish Development Fund (PFR) was launched at 18:00 hours on Wednesday, 29 April. PFR has proudly announced that, a mere 20 hours later, the first 1,000 companies received PLN 355 mln in assistance. The online applications are filed via e-banking platforms and are considered automatically, without any delay. “PFR’s financial shield did not stop for the spring holiday. A further 6.5 thou enterprises received financial subsidies to the tune of PLN 1.4 bln. Since Wednesday, corona subsidies have gone to 15.7 thou companies, reaching PLN 3.5 bln. These enterprise employ 250 thou workers”, tweeted Paweł Borys, president of the Polish Development Fund, on the morning of Monday, 4 May (...)