Slovenia will provide 2 billion EUR to ensure the liquidity of companies in Slovenia. A draft law was approved to provide additional liquidity to the economy in order to mitigate the effects of the COVID-19 epidemic. It will be called strategy PKP2. Slovenia will continue to ensure the liquidity of companies with state guarantees in order to support business in Slovenia.
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Slovenia prepared PKP2 strategy for ensuring company liquidity during the epidemic
At present, securing the liquidity of companies is one of the priorities of the government of Slovenia. Namely, it is necessary to provide conditions to retain jobs and companies have to be encouraged to invest. Currently, loans from Slovenian Entrepreneurial Fund (SPS) and SID Bank are already available to companies facing liquidity issues. With PKP2, Slovenia, in the form of bank loan guarantees, further strengthens the supply of financial instruments during the epidemic.
What is the Special Purpose Loan to ensure liquidity?
Slovenia will give a state guarantee for a loan with the following characteristics
- loans of up to 5 years;
- loans granted after 12th March 2020 and no later than 31st December 2020;
- guarantee amount up to 70% of the loan principal amount for large enterprises;
- guarantee amount up to 80% of the loan principal amount for small and medium enterprises.
The loans are for business with A and B credit rating that have paid all tax obligations. The reason for applying for this loan to ensure liquidity has to be connected to the loss of income due to coronavirus epidemic. Slovenia will allocate up to 2 billion EUR for such loans.
The maximum total amount of principal for one company, for which Slovenia guarantees for in accordance with this Lay, is up to 10% of sales revenue in 2019. It may not exceed the amount of labor costs for 2019.
What else does the PKP2 strategy determine?
The confirmed PKP2 proposal also determines:
- change for the amount of funds for municipalities from 589.11 EUR to 623.96 EUR,
- amendments to the Law on SID Bank and
- extension of operation.
Are you a business owner in Slovenia or looking to register a company here? Are you having trouble understanding what is best for your business? We are organizing webinars to understand company registration and business immigration to Slovenia. Apply here or call our experts on +386 1 6006 270, Viber/Whatsapp +386 40 530 718 or write to us on [email protected]
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