“We suddenly found out that our supply to China on the occasion of New Year celebrations could not be sold on the market due to health restrictions. Subsequently, coronavirus pandemic came to Europe, many showrooms were closed and the pandemic spread all over the world,” CEO Zuzana Ceralová Petrofová describes how the coronavirus heavily affected the business of the company, founded by her great-great grandfather.
In order to overcome the difficult period, the company decided to apply for a guarantee from the COVID II program. “We took it as an opportunity enabling us to save interests paid on the commercial loan, while our financing (commercial) bank could share the risk with the state,” says Ms Petrofová, adding “We signed two contracts in the volume of CZK 10 million – Raiffeisen Bank approved a loan guaranteed by the ČMZRB. It was approximately a half of our initial request. The money came to our accounts in three days.”