The Ministry of Industry and Trade (MIT) published the COVID Sports Guarantee compensation program on January 18, 2021. The programme was prepared in cooperation with the National Development Bank (NRB).
Below you will find general information known so far, more specific information should be known soon.
Purpose/conditions: The program will guarantee support for small and medium-sized entrepreneurs active in the area of sports in overcoming the economic crisis caused by the spread of the coronavirus SARS-CoV-2 (or the disease called COVID-19). The program applies to all projects held anywhere in the Czech Republic with the exception of the City of Prague. The COVID SPORT guarantee is provided within the Expansion-Guarantee program which is financed from the ESI Funds under MIT´s Operational Program Enterprise and Innovation for Competitiveness.
The COVID-SPORT program is suitable for:
- for small and medium-sized businesses
- The aid shall be provided to projects with outputs affecting the sectors defined by CZ-NACE:
- 49392 – Passenger transport by cable cars or ski lifts
- 8551 – Sports and recreation education
- 9311 – Operation of sports facilities
- 9312 – Activities of sports clubs (only if closed due to the COVID pandemic)
- 9313 – Fitness facilities (only if closed due to the COVID pandemic)
- 9319 – Other sports activities (only if closed due to the COVID pandemic)
- 9329 – Other entertainment and recreation activities (only for operation of ski slopes and rental of equipment for leisure and entertainment as an integral part of services provided by recreation facilities)
What is the warranty offered for:
- Gradually repaid loans for the funding of operating costs
- Maximum loan amount is CZK 15 million.
- Maximum guarantee amount 80%
- Maximum term of guarantee 3 years
- The guarantee cannot be provided for an existing loan.
- Financial contribution for loans up to CZK 1 million.
What can you use the guaranteed loan for:
- wage costs, cost of energy, rent
- settlement of supplier invoices
- funding of receivables, purchase of materials
- inventories and other low-value assets
Maximum support granted: NRB's bank guarantee for loans up to CZK 10 million should amount to up to 80% of the principal of the guaranteed loan. In addition, entrepreneurs in sports should be able to apply for a financial contribution to the bank loan interest. The contribution limit is defined as 15% of the total loan amount intended for operational costs (VAT not included) or up to 1 million CZK in total. These subventions should be provided in line with the "de minimis" regime.
Receipt of the application: From 1 March 2021 from 8:00 to 31 December 2021. Applications and other forms necessary for submitting the application will be published on 1 March 2021.
Method of submitting the application: Applications can be sent via the NRB E-filing system. If you are interested in the guarantee, we recommend that you study the information and the Call on the NRB website, where you will also find forms, instructions, etc.