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Guarantee
Funds
in Poland
by
Tomasz Bąkowski, PhD
President
National Association of Guarantee Funds
Warszawa, 2012
General information about Poland:
Population: 38.116.000
Economically active persons: 17.660.000
SMEs: 1.800.000
Area: 312.685 km2
GDP:
- total: 312.639 billion euro
- per capita: 8.202 euro
Polish Gross Domestic Product.
350000
GDP
300000
Total SMEs in
GDP = 47%
250000
200000
150000
100000
50000
0
GDP
Total
SMEs +
Big
-Micro
-Small
-Medium
-Big
Total Assets of Guarantee Funds in Poland.
Million PLN
1400
1200
1000
800
600
400
200
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Million PLN
Value of guarantees provided in the years 2004 to 2011.
1,200
1,000
800
600
400
200
0
2004
2005
2006
2007
2008
2009
2010
2011
Number of guarantees provided in the years 2000 to 2011.
8000
7000
6000
5000
4000
3000
2000
1000
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Million PLN
Value of guarantees by types of loans.
600
500
400
300
200
100
0
Short-term
bank loans
Long-term
bank loans
Long-term
fund loans
Short-term
funds loans
other
Number of guarantees by types of loans.
5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
Short-term bank Long-term bank
loans
loans
Long-term fund Short-term funds
loans
loans
other
General purpose of guarantee in SMEs.
Short term (<12 M)
Long term (<60 M)
The share of the guarantee by types of loans.
80%
70%
60%
Total value
75.3%
Quantity
75.2%
50%
40%
30%
20%
19.3%
10%
13.8%
3.2%
5.5%
1.2%
2.7%
1.1%
0%
Short-term
bank loans
Long-term
bank loans
Long-term
fund loans
Short-term
funds loans
other
2.7%
Million PLN
The structure guarantees depending on the sector
of the economy.
300
250
200
150
100
50
0
Production
Services and
Transport
Trade
Constructions
Other
The share of the guarantee by the sector of
the economy.
39.8%
40%
35.0%
35%
Total value
31.6% 32.0%
Quantity
30%
25%
20%
15%
16.1%
12.9%
12.5%
11.9%
10%
4.3%
5%
0%
Production
Services and
Transport
Trade
Constructions
Other
3.9%
Aggregate amount of collateral with the division
on bail in each range of values ​.
x > 500 thousand
250 < x > 500 thousand
100 <x> 250 thousand
50 <x> 100 thousand
> 50 thousand
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
Thousand
The structure of guarantees due to the number
of contracts in each range of values ​guarantees.
x > 500 thousand
250 < x > 500 thousand
100 <x> 250 thousand
50 <x> 100 thousand
> 50 thousand
0
200
400
600
800
1000
1200
1400
1600
1800
2000
Guarantees by financial institutions.
100%
90%
96%
89.90%
Number
Value
80%
70%
60%
50%
40%
30%
20%
10%
5.80%
3.10%
0%
Banks
Loan Funds
4.30%
0.80%
Other
Distribution of guarantees for SMEs.
70.0%
value
60.0%
amount
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
Micro-
Small
Medium
Summary
The assets of all guarantee funds in Poland are
242 million euros.
In 2011 all guarantee funds awarded of 6.118
guarantees for the amount 226 million euros.
Since 2000 year all guarantee funds granted 44.326
guarantee for an amount of 1,23 billion euros.
The general principles:
1) The funds provide guarantees of micro, small and medium enterprises (definition
of the European Commission), doing business and having its registered office in
Poland. In the case of funds that have been supported by the RPO (operational
programs in the Regions) or the JEREMIE program, guarantee are available for
enterprise who operating in the province.
2) Lack of ability to repay the debt and the restructuring of the company within the
meaning of the Community guidelines on State aid for rescuing and restructuring
firms (firms in difficulty) excludes the possibility of sponsoring.
3) The funds provide guarantees for companies classified in the category of
investment. The adoption of the so-called safe rates according to the
Commission Notice on the application of art. 87 and 88 EC Treaty to State aid in
the form of guarantees (OJ. C 155/02 of 06.20.2008 issued) and the European
Commission Communication on the revision of the method for setting reference
and discount rates (OJ. C 14 of 19.1. 2008).
4) Surety shall not be granted to entrepreneurs, who was responsible for the return
obtained by the earlier state aid resulting from the European Commission's
decision declaring the aid incompatible with the law or with the common
market.
5) Guaranteed loans to finance economic activities, provided by banks with whom
the fund has entered into a cooperation agreement.
6) Guarantees associated with loans are intended for purposes directly related to
economic activity. The programs funded by the RPO and JEREMIE are excluded or
severely limited funding for current operations (loans and working capital loans).
7) The maximum value of the guarantee may not exceed 5% of the equity fund.
8) Total liabilities of the Fund in respect of guarantees given to one business may not
exceed 5% of its capital.
9) The guarantee may be granted up to the max. 80% of the principal amount of the
loan and the value of the guarantee for its duration may not exceed 80% of the
current commitments under the credit contract.
10) The funds provide a guarantee for a period of 60 months (regardless of the credit
period).
11) Liability Fund on account of guarantee does not include interest, commissions,
fees, charges or costs of the investigation by the funding institution.
12) The funds generally accept the grace period for liability incurred.
The main objectives of the activity of
guarantee funds:
Supporting the development of the system of credit
guarantees;
Dissemination of knowledge and exchange of
experience in the field of loan guaranty business;
Cooperation with governmental bodies, local selfgovernment, financial and others carrying out similar
objectives for the development of systems of credit
guarantees;
Promotion of loan guarantees.
The effects of the financial crisis.
The increase in risk aversion in financial markets.
A significant tightening of lending policies of
financial institutions.
The worsening economic entities of SMEs.
The role of guarantees.
Incentive for banks and other institutions
for debt financing the SME sector,
Risk sharing affects the reduction of
reserves by banks,
Increasing the liquidity of the banking
sector in case of loss,
Increasing the propensity of banks to
undertake the restructuring of SMEs
rather than an accelerated recovery,
Increased capacity (debt) to the incurring
of liabilities by SMEs.
Guarantee Funds as market maker.
SME’s
Guaranty
Funds
Banks
Procedure of loan guarantees.
SME’s application
of loans and
guarantee
Banks sign a loan
contract
Banks – decision
with conditions
Guarantee Funds
accept loans
guarantee
Steps of procedure.
• Checking the completeness of the application form.
checking • Enter data into computer system.
• Computing Rating analysis.
Analisys • Expert Analysis.
• Decision of guarantee fund.
Decision • Information to SME via bank.
Steps procedures in Banks
Collecting of documents
Preparation of loan agreement
Acceptance of credit protection
Conclusion of loan agreement
Monitoring SME’s by Banks.
SME
2
SME
1
SME
..n
Quarterly Report to
guarantee fund
Default!
Termination
Restructuring
Vindication
settlement outside of court
judicial writ of execution
voluntary repayments
enforcement bailiffs
Default by guarantee funds point of
view.
Report from monitoring
Information about default of SME.
Request for payment
Payment for Bank
Vindication SME by guarantee fund
National Association
of Guarantee Funds
Adress:
Chałubińskiego 3A lok. 17
02-004 Warszawa, Poland
www. ksfp.org.pl
E-mail: [email protected]