Small- and medium-sized enterprises (SMEs) obtained financial assistance totalling SKK3.042 billion over the second half of 2003. SKK2.215 billion was obtained in the form of loans, capital investments accounted for SKK103.65 million, and SKK277.643 million was provided in grants.
The Slovak Guarantee and Development Bank (SGDB) supported SMEs through guarantee programmes worth SKK445.451 million. The SGDB also provided the majority of the loans, amounting to SKK2.003 billion, according to a report on financial support programmes for SMEs in the second half of 2003.
The report states that the financing of SMEs in Slovakia is not optimal, in spite of support programmes that should eliminate the shortcomings of the developing business environment in Slovakia. The main problem is business’s limited access to capital resources, which in turn is mainly due to the lack of guarantees.
