YES. The decisive criterion for the COVID III Scheme is the number of employees per company (per entity with its own company ID number). Consolidated data is not taken into account here.

NO. One company may obtain COVID III credit only from one bank and under one credit agreement.

The credit agreement with the bank must be concluded by the end of 2020. The amount of the credit facility can be increased during this period (by entering into an amendment to the loan agreement) up to the maximum limit of CZK 50 million.

Yes, unless prevented by the binding terms and conditions set forth by your financing bank. If such conditions are in place, you should obtain your financing bank’s approval.

This credit cannot be used to refinance other borrowings before their final maturity date. As a matter of principle, it is for financing operating expenses. The application must state that the Final Beneficiary is applying for Debt Financing in order to address current or reasonably foreseeable economic problems due to the effects of the spread of SARS-CoV-2 coronavirus.

YES. Operating credit granted for 1 year may be extended (under an amendment to the credit agreement), provided that the final maturity of the credit does not exceed 3 years (which is when the ČMZRB guarantee expires). If both parties agree, the credit may continue even after 3 years have expired (i.e. after the ČMZRB guarantee has been withdrawn).

YES. The COVID III Scheme permits this operational financing structure.

NO. The COVID III Scheme does not include this form of government support.

Security is a matter that the bank and the applicant will agree on separately. The ČMZRB guarantee only covers a part of the principal, not the outstanding interest or fees.

YES. Credit applicants (legal entities) must have their beneficial owner entered in the register of data on beneficial owners, which is maintained in accordance with the relevant legislation.