The City of Prague in cooperation with the Czech-Moravian Guarantee and Development Bank (ČMZRB) announced a call for a business support program INFIN. They offer soft loans for small and medium-sized enterprises to finance innovative projects in Prague. CZK 400 million is earmarked for the program under the Operational Program Prague – the Pole of Growth of the Czech Republic.
The aim of the INFIN program is to increase the offer of affordable financing for business projects implemented within Prague that use research results, are carried out by innovative entrepreneurs with a short history or are realized in one of the specified areas.
Who is the support for?
The support is intended for small and medium-sized enterprises based in the capital city of Prague and operating in areas such as manufacturing, construction, water and waste management, retail and wholesale, transport and storage, accommodation and hospitality, education and other services.
The support is designed for entrepreneurs who meet the following conditions:
- is a small, or medium-sized entrepreneur doing business or setting up a business in one of the supported sectors
- it has not been more than 7 years since its first commercial activity (e.g. sales of goods or services)
- has its headquarters or registered office in the capital city of Prague
Entrepreneurs with a short history (maximum of three years) will be offered an interest-free investment loan of CZK 750,000 – CZK 3 million, up to 90% of eligible project costs. The loan will have a maturity of up to 6 years, including the postponement of instalments for up to 2 years.
Entrepreneurs with a longer history (maximum of seven years) can receive an interest-free investment loan in the range of CZK 1 – 15 million, up to 50% of the project’s eligible expenditure, with a maturity of up to 10 years. Granting of this loan will be subject to co-financing from a cooperating bank for at least 30% of the eligible project costs.
Characteristics of the project
The business support is aimed at:
- innovative business projects
- projects of innovative or fast-growing companies
- innovative projects or projects of innovative entrepreneurs focused on efficient energy management
The place of the project realization must be in Prague. The project must be in accordance with the National RIS3 Strategy and the Regional Innovation Strategy of the City of Prague.
Deadline for receiving of applications: 31.12.2022
Further information and consultations are provided by ČMZRB points of sale, or at the e-mail: email@example.com.
The Czech-Moravian Guarantee and Development Bank
(“Českomoravská záruční a rozvojová banka, a.s.“)
Jeruzalémská 964/4, 110 00 Praha 1
More information can be found here (Czech only): //www.cmzrb.cz/en/podnikatele/uvery/infin/