The Women’s Fund is a project prepared by the Ministry of Economy presented at the end of 2014. It is addressed to enterprising women who run their own business or are just starting it up. The call for applications will be launched in the first quarter of 2015, and the loan will be granted by the Polish Agency for Enterprise Development.
Women’s loan – conditions for receipt
The Fund may be used by women who:
they run a business,
they set up a business,
they live on Polish territory
run / set up an enterprise in its area
However, despite meeting the above-mentioned conditions, in certain cases women cannot benefit from funding under the project, this happens when:
as part of the business, the woman sells products or services,
runs an enterprise in a civil law partnership.
In addition, the project organizer stipulates that the loan fund for women will be of a pilot nature, i.e. loans will be granted only for projects located in selected poviats. The list of these poviats will be included in the contest documentation.
Loan for enterprising women – amount, interest rate, repayment time
The loan from the Polish Agency for Enterprise Development project is scheduled for 5 years. However, the funds must be used within one year (12 months) of receipt of the money. The loan may not exceed 95% of eligible expenditure and may not be less than USD 20,000 and may not exceed USD 40,000. The loan interest rate for women is fixed at 2% per annum. An enterprising woman will only be able to get a loan once during the project period.
The amount of the loan will be the difference between the discounted market value of interest that would be accrued for the loan granted and the discounted value of interest resulting from the interest rate applied by PARP and will be calculated in accordance with the state aid regulations.
A woman running or setting up her own business activity has the right to suspend the repayment of principal and interest. The grace period for the loan for women may not exceed one year from the date of termination of the loan undertaking. Interest is not capitalized during the grace period.
Loan for enterprising women – payout rules
The women’s loan will be paid after the collateral has been established and lodged:
1) due performance by the borrower of obligations under the loan agreement in the form of a blank promissory note with a promissory note guarantee along with a promissory note declaration and
2) proper spending of the loan funds by submitting the borrower’s declaration in the form of a notarial deed of voluntary submission to enforcement.
In special cases, PARP may request security in the form of a bank guarantee, surety or mortgage along with the assignment of rights from the insurance policy of the property it is subject to.
Loan for enterprising women – the goal
Co-financing will concern expenses related to conducting business activities and expenses that will be incurred during its implementation of the Regulation of the Minister of Economy of November 18, 2014, indicates in particular expenses related to:
covering the purchase price or production cost of fixed assets, excluding real estate,
purchase of services, excluding consultancy services,
purchase of intangible assets,
adaptation of office, production, service or commercial facilities,
purchase of materials and equipment,
establishment or maintenance of a security on due performance of obligations under the loan agreement.
The loan may not be used to cover expenses related to the running costs of the entrepreneur and public liabilities.
PARP, when examining loan applications for women, will pay particular attention to the expected impact of the planned activities on the company’s development and the amount of the costs of the activities in relation to the expected results. Information about the start and results of the competition will be announced on the Internet, on the PARP website.