Anti-crisis shield 4.0 - what's new?

On June 24th, the anti-crisis shield 4.0 entered into force. What was shimmering, what was new? Below we summarize the most important issues.

For micro-entrepreneurs:
– The 5000 PLN loan will be canceled ex officio. Entrepreneurs who have benefited from this form of assistance will not have to submit applications for redemption. Individuals who received 5,000 PLN for micro-entrepreneurs before the entry into force of this Act will also benefit from its provisions.

Credit subsidies:
– Small and medium-sized enterprises will receive a subsidy of 2 percentage points and large enterprises of 1 percentage point. Credit agreements can be concluded until December 31, 2020.

Credit holidays:
– The changes will cover loan agreements concluded before March 13th, 2020 and those that are due later than six months after March 13th, 2020. At the borrower’s request, the bank suspends repayment of both the interest and principal parts of the installment. The suspension may last a maximum of three months from the date of submitting the application to the bank. During this period the creditor may not charge any other fees related to the loan and suspension of repayment, except for credit insurance. If the borrower has more than one loan, he must choose one in which he will take credit holidays.

Hostile takeovers:
– The new provision is to protect Polish companies from being taken over by companies that will take advantage of their difficult situation caused by a pandemic. The president of the Office of Competition and Consumer Protection will decide whether the acquisition is hostile. The protection will be granted to the entrepreneur whose income from the sale of goods and services in Poland has exceeded EUR 10 million in one of the last two financial years. Companies are to be particularly protected. Investors who want to acquire a given company will have to notify the Office of Competition and Consumer Protection. If they fail to do so, they will face a penalty of up to 50 million. PLN or imprisonment for up to 5 years.

Anti-crisis shield 4.0