Measures taken in the area of financial market and financial aid

Recently approved Lex Corona Act no 67/2020 Coll. regulates various areas for the aid of Ministry of Finance of the Slovak Republic for micro-enterprises, small and medium-sized enterprises (or "SMEs” as defined by regulation (EC) - less than 250 employees, turnover under EUR 50 mil., assets under EUR 43 mil.) in the form of guarantees for loans and interest-rate subsidies to credits granted to these enterprises by the EXIMBANKA SR and the Slovak Guarantee and Development Bank (SZRB). Applicant for this type of support must meet the following conditions as per the amendment:

• Arrears toward social or health insurance company of more than 180 days after maturity date
• Neither bankruptcy proceedings nor restructuring has been initiated toward the applicant
• Further conditions to be determined by the bank

On the basis of this amendment, EXIMBANKA SR has already introduced a new product - bridging operating credit provided by EXIMBANKA SR under favourable conditions:

• maximum total amount of the operating credit will be EUR 500,000
• credit amount may not exceed 50 % of the total turnover of the SME for the year 2019
• Maturity period of the operating credit will be three years, with a deferral of repayment of the principal and interest for 12 months from the date of credit.
• The exporter may use funds obtained from the operating credit to cover their operating costs, finance investments into tangible or intangible assets associated with maintaining operation and employment, and also for payment of obligations toward social insurance, health insurance schemes, tax authorities and customs office

SZRB have not provided more detailed information about the form of provision of this aid. We recommend watching websites of these banks (www.szrb.sk, www.eximbanka.sk) for current info on the availability and conditions for such products.