On 20 April 2020, the Slovak Guarantee and Development Bank (SZRB) has launched a new loan product for small & medium-sized enterprises (SMEs) titled — Operating loan 'PODNIKATEĽ 2020'. This instrument’s goal is to mitigate the negative impacts of the pandemic and support the continued operations and employment in the SMEs. The instrument will be provided in the following 2 forms: Loan guarantees and Interestrate bonuses.As a result, it will support companies with the payment of operating and capital costs associated with maintaining of operations and employment, as well as with the repayment of liabilities to the Social Insurance Company and health insurance companies.The mechanism consists in granting a loan to SMEs with a 4% p.a. interest rate, which will be fixed for the entire maturity of the loan. There is an additional possibility of 4% p.a. interest rate bonus (for the entire maturity of the loan). Loan guarantee is provided by the Ministry of Finance of the Slovak Republic.Eligible are those SMEs, which:carry out their activities at least one completed (continuous) accounting period before applying for a loan,do not carry out the activity of a temporary employment agency and/or a job placement,have no obligations to the health insurance companies or the Social Insurance Company for mandatory health and social contributions overdue for more than 180 daysno insolvency or restructuring proceedings have been initiated against SMEsdo not meet the definition of an "undertaking in difficulty"do not operate in following sectors: fishery, aquaculture, the primary production of agricultural products or activities related to exports to third countries or Member States Conditions related to soft loans and interest rate bonus: Minimum loan amount: € 10,000Maximum loan amount: € 350,000The loan amount may not exceed 50% of the client's total turnover for 2019Maximum maturity: 3 years (36 months) including postponed paymentsThe repayment of principal and interests may be postponed for up to 12 months since the beginning of first drawdown of the loan (postponed repayments will be allocated to the loan repayments within remaining 24 months)Interest rate is 4% p.a. & is fixed for the entire maturity of the loan. There is also an additional 4% p.a. interest rate bonus (for the entire maturity of the loan)Fees for provision: 0.5% of the loanInterest rate bonus conditions:For 12 months since the date of the first loan drawdown, SMEs will maintain the average level of employment of regular employees compared to the initial situation.In the same period, SMEs will have no obligations overdue for more than one month related to social security or health contributions (or will not have these obligations higher than obligations at the time of the loan application reduced by the amount of the provided loan, and for such obligations has agreed a payment schedule, which the company follows)More information on the Operational loan PODNIKATEĽ 2020 may be found directly on the website of The Slovak Guarantee and Development Bank SZRB (only in Slovak).