Loan for Development for Your Company at Bank Millennium

Now, companies can finance their investment expenditures and thier current needs easier. Bank Millennium has expanded its offer for enterprises with the Loan for Development, with no requirement to define designation forthe proceeds. In addition, companies whose activities will be classified as 'green' will not pay an origination fee on the loan granted.

Inflow of funds from EU programmes and the National Recovery Plan encourages enterprises to implement their capital projects. The project scope and scale are determined by availability of the sources of financing.

- We can see gradually growing interest among entrepreneurs in capital projects, specifically in the context of available EU funds and the National Recovery Plan. This is in line with our scenario, which assumes that investments will be one of the main drivers of economic growth in the coming years - says Magdalena Zmitrowicz,, Member of the Management Board of Bank Millennium. - Our strategy assumes active support for companies not only in the implementation of investment and development plans, but also in their sustainable development and green transformation, investments in environmentally friendly solutions and technologies. The financing we offer is part of this strategy and responds to the needs of companies.

Support for transformation and development of the clients through deliveru fo sustainable financing to companies is one of the strategic objectives of Bank Millennium, who intends to allocate, in 2025-2028 5 bn PLN to financing of sustainable development projects. The Bank finances environment friendly and energy saving, including those connected with investments into renewable energy sources.

A development loan is flexible financing that does not require an indication of a purpose, so it can be used both as working capital and investment support: own contribution or bridge financing for investments supported by grants, as well as financing projects that do not qualify for public support. It offers preferential terms for companies whose activities are classified by the bank as "green" (the company generates most of its revenues from the sale of products or the provision of services related to sustainable development or environmental protection). This is a concrete support for companies that want to combine business development with environmental responsibility.

The Bank offers favourable conditions and faster access to financing. Entrepreneurs do not have to specify the purpose of financing, and funds are received on their account in one tranche. They may apply for up to 4 mln PLN and spread loan repayment to as long as 5 years. They also have the option of postponing the repayment of the first instalment of the principal for 3 months from signing the agreement.

- In a dynamic economic environment, companies need solutions that are fast, simple, flexible and available at the right time. The financing we offer is tailored to the current needs. We offer not only a high amount of financing in relation to the market, but also an extended loan term and the possibility of a grace period in repayment - says Małgorzata Olejarz, Head of Products and Credit Process Team in the Corporate Banking Marketing Department, Bank Millennium.

The development loan can be secured by one of the following collaterals:

• de minimis guarantee (up to 60% of the loan amount)
• pledge on machines/equipment
• mortgage on real estate with assignment of rights under insurance policy.

There is no need for property security for companies with a positive financial assessment according to the criteria adopted by Bank Millennium.