The impact of COVID-19 pandemic on the situation of the borrowers, lessees and the sellers under factoring agreements

The COVID-19 pandemic may have unpredictable consequences on the financial situation of borrowers and the entities benefiting from other forms of financing (leasing, factoring) and their ability to pay liabilities toward financial institutions in a timely manner.


The COVID – 19 Act, commonly known as the “Anti-Crisis Shield” includes several solutions which are important for the entrepreneurs who benefit from the bank financing or other forms of the financing, which should be noted.

  • Changes in loan conditions

The COVID-19 Act constitutes an aid package for entrepreneurs and provides, among others, possibility of changing the terms and conditions and terms of repayment of the bank credit or a loan granted before 8 March 2020 without the necessity for a full examination of creditworthiness (only for micro, small and medium-sized enterprises within the meaning of the act of 6 March 2018 – Entrepreneurs Law (Dz. U. of 2019, item. 1292).

  • Financial assistance from BGK

The COVID-19 Act also provides the possibility of granting the sureties and the guarantees by Bank Gospodarstwa Krajowego (BGK) for the repayment of loans taken out by entrepreneurs, excluding micro and small entrepreneurs, to ensure their financial liquidity. The surety or guarantee may cover no more than 80% of the outstanding loan amount covered by the surety or guarantee. The amount of the individual loan covered by the guarantee may be up to PLN 250 million.


As announced by the Polish Bank Association, Polish banks, apart from launching their own direct actions supporting clients affected by the effects of the pandemic have started to support clients using instruments provided by the public sector.

  • National de minimis guarantees COVID-19 from BGK

The banks have launched the possibility of renewing, extending (up to 1 year) or granting new credit with the anti-crisis collaterals for their repayments. The micro, small and medium-sized enterprises can also benefit from commission-free collateral of up to 80% of the credit amount, with an extended collateral period of up to 39 months for working capital credits.

Such loans are available to entrepreneurs who as of 1 February 2020 were not in arrears at the Tax Office and Social Insurance Institution. Estimates indicate that more than PLN 20 billion of new credits may be granted this way by the end of 2020.

  • EU guarantees (involving the EIF and the EIB)

The banks also grant credits covered by 80% of BGK’s guarantees for up to 99 months, secured by counter-guarantees of the European Investment Fund (“EIF”). Banks and institutions from banking groups offer financing with free EIF guarantees.

In addition, on 18 March 2020, the European Investment Bank Group announced its support to businesses, through loans and guarantees, enabling a creating €40 billion of soft credits on the European market.


In addition to supporting clients using instruments made available by the public sector, banks, in cooperation with other institutions, also take their own measures to facilitate the situation of clients being in financial difficulties due to pandemic.

  • Deferred repayment of loans

The banks may defer (suspend) the repayment of interest or capital instalments for up to 3 months and automatically extend the total repayment period by the same period of time in the course of the simplified procedure. The condition is the simultaneous extension of the term of the collateral securing the credit repayment.

Please note that in the case of the suspension of the credit repayment, only the capital part of the loan instalment is withheld. Therefore, the borrower continues to be obliged to pay the interest part on time. Otherwise, the unpaid credit installments will increase the capital to be paid, and as a result, will increase the amounts of subsequent monthly installments. It is therefore important to agree with the bank that the suspension of credit repayment also covers the interest part of the instalment.

The facilitations are to apply to housing credits, consumer credits for individual customers, credits for entrepreneurs.

  • Deferred repayment of leasing factoring installments

Banks having companies in their capital group that offer their customers financing in the form of leasing or factoring may take measures to defer payment of leasing installments or installments due from customers on account of factoring on the terms and conditions corresponding to those applied by the bank in relation to deference of the credit repayment.

  • No fees or commissions for filing an application for deferral

The banks will not charge fees or commissions for accepting and processing applications for suspension of payments of capital and interest instalments or capital instalments. Furthermore, banks allow these applications to be submitted in the informal manner, i. e. without need to submit additional documents and certificates confirming in detail the current financial and economic situation of a given borrower.

In view of the situation, banks will ensure the possibility of submitting the above mentioned applications remotely, i.e. via e-mail, electronic banking or via telephone, in accordance with the forms of communication provided for in a given agreement with the bank. Banks may allow for the submission of the above mentioned applications in a remote form, even if this has not been included in the agreement concluded with the bank, provided that the customer can be identified.

Details of the abovementioned options will be made available individually by the banks, therefore we recommend to follow the information published by the given banks.

  • Safer shopping with contactless payments

In addition, in the event of an increased threat caused by a pandemic, it is recommended to make payments using the contactless method.

Therefore, Polish Bank Association in cooperation with the Cashless Poland Foundation, have taken steps to implement as soon as possible in POS terminals in Poland the possibility of making contactless payments with an increased limit from PLN 50 to PLN 100 without the need to authorize them with PIN.

This will limit the physical contact of the cardholder or the holder of other payment device with the payment terminal. It will also shorten the time necessary to complete a payment transaction and the presence in shopping or commercial area.


If you are interested in obtaining further information and their impact on your activity please contact with:

Tomasz Olkiewicz phone + 48 22 322 68 88; or

Julia Fabisiak phone + 48 22 48 322 68 88

In MDDP, we have also established a CORONAVIRUS CRISIS TEAM our experts assist in all areas of activity that may be affected by the coronavirus epidemic. We monitor the legislative work related to the coronavirus on an ongoing basis and follow the recommendations of the relevant authorities that may affect the business situation.

Questions and doubts should be addressed to: or directly to persons responsible for specific issues:

TAXES Bartosz Głowacki phone:+48 603 980 382,
LABOR LAW Wiktoria Cieślikowska phone:+48 22 376 52 97,
PERSONAL DATA Daniel Michalski phone:+48 22 376 52 02,
PAYMENT BACKLOGS, BANKRUPTCY AND RESTRUCTURING Bartłomiej Sadura phone:+48 737 883 705,
CONTRACTS Aleksandra Grabarska phone:+48 22 376 52 20,
CORPORATE FINANCE Łukasz Zabłocki phone:+48 22 320 48 52,
FINANCIAL STATEMENTS Magdalena Michniewicz phone:+48 502 413 975,
BOOKKEEPING Agnieszka Tyczyńska-Osińska phone:+48 504 120 116,
PAYROLL Barbara Kochańska-Mierzejewska phone:+48 516 281 916,