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CZ Legal Alert - The COVID Plus guarantee program expands the circle of loan recipients

  • Czech Republic

    08-02-2021

    The range of potential credit recipients, to which the Exportní garanční a pojišťovací společnost, a.s. (EGAP), can provide a credit guarantee has been extended by Government Regulation No. 41/2021 Coll. Accommodation was exempted from the excluded economic areas. EGAP can newly provide a credit guarantee to accommodation providers if they employed at least 250 employees in 2019 and the share of their sales from the provision of services to foreigners in the Czech Republic reached at least 20% of their total annual turnover in 2019. Gambling and betting activities thus remain the only excluded economic activity on which the guarantee cannot be provided.

    Petra Kratochvílová, Counsel

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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