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Working Capital Loan | Covid-19

Working capital loan is liquidity support for businesses, farmers and those in the fisheries industry, whose activities have been affected by Covid-19

  • Amount up to EUR 1 million, but the total loan does not exceed at least one of the criteria:

    • 25% of 2019 turnover
    • loan amount must not exceed twice the total remuneration of employees (incl. social contributions) in 2019 (for those established in 2019, planned two-year amount)
    • the amount of liquidity required to ensure operation for the next 12 months
  • Maturity 1 - 3 years

  • Loan holidays up to 12 months

  • Reduced collateral requirements

  • Reduced % rate

  • Not applied to

    • Refinancing of other loans (principal payments, debt repayments of related companies, debt payments incurred before March 2020, dividend payments, etc.)
    • There is no justified negative impact of Covid-19 on business activities
    • If the company was already in financial distress as of December 31, 2019 (see FAQ, 2 question)
    • Those operating in the gambling, financial intermediation, arms, tobacco, alcohol, real estate sectors, etc.
  • By applying for a loan, you confirm that the loan is necessary for liquidity support due to the negative impact of the Covid-19 crisis, as well as of 31.12.2019. the company has no tax debts or late payments, the loan will not finance activities in ineligible sectors, the loan will not be used for refinancing of other loans and principal payments, debt repayments of related companies, debt payments incurred before March 2020, as well as dividend payments.

    It should be emphasized that before applying for an Altum loan, discussions should be held with the company's commercial bank about its possibilities to finance the company, incl. with the Altum guarantee. If the commercial bank refuse finance, then it is possible to apply for an Altum loan.