High-Risk Business Activities and Company Loans in Poland – A Comprehensive Guide - Credit Broker: Mortgages, Cash Loans, Insurance

A business loan for a company from an industry considered risky by banks is one of the most difficult types of financing to obtain on the market – but not impossible. Below I explain how banks assess such applications and what realistically increases your chances.

Do you run a company in a high-risk industry and have trouble getting a loan? Check which business activities (PKD codes) banks consider risky, why they refuse financing, and how to increase your chances. AML and BIK analysis, plus tips for 2025.

High-Risk Business Activities and Company Loans in Poland - A Comprehensive Analysis

Introduction: Why Does My Bank See Risk in My Company?

Many Polish entrepreneurs ask themselves the same frustrating question: “My company is profitable, has customers and regular revenue, and yet the bank refuses to give me a loan. Why?” This feeling is understandable, but the key to obtaining financing is understanding the financial institution’s perspective. For a bank, risk isn’t just about analyzing current profits. Above all, it’s an assessment of the predictability and stability of future cash flows that will guarantee repayment of the obligation.

A bank is not an equity investor who shares in profits and losses. Quite the opposite, it is a lender, and its goal is the safe return of capital along with interest. That’s why, where an entrepreneur sees dynamic growth, a bank analyst sees risk. They see statistical variables, the probability of insolvency, and threats to the stability of the entire sector. As a result, this fundamental conflict in risk perception lies at the root of most problems in obtaining a loan.

This comprehensive guide aims to demystify the bank’s perspective. We will explain what “high-risk business” means in practice. What’s more, we will divide this concept into two key categories: regulatory risk (arising from law, e.g., AML) and sector risk (related to the specifics of the industry). Understanding this division is the first and most important step on the path to successfully obtaining financing.

Section 1: The Risk Map – Which Industries in Poland Have an Uphill Battle for a Loan?

When assessing an application, banks use a kind of “risk map,” and certain areas of economic activity are marked in red on it. This doesn’t always result from low profitability, but from factors that an entrepreneur often has no influence over. This risk can be divided into two main categories.

Subsection 1.1: Industries in the Legislator’s Crosshairs (AML and Regulatory Risk)

Some industries come under the banks’ scrutiny not because of economic instability. This happens because they are legally recognized as susceptible to money laundering (AML) and terrorist financing (CFT). For a bank, this is a compliance risk, ignoring which risks severe penalties and reputational damage. As a result, the anti-money laundering act imposes strict requirements on banks to monitor transactions and clients from these sectors.

The main characteristics that qualify an industry for this group are:

a high share of cash transactions,
potential anonymity of clients,
complex ownership structures,
as well as the cross-border nature of the activity.

All of this makes it harder to verify the legal origin of funds. As a result, an entrepreneur from such an industry, even if running a legal and profitable business, must expect a more thorough analysis and the need to provide additional documentation.

The table below presents the key industries considered to carry high AML risk, along with the justification.

Industry + Description	PKD Code	Main Threats (Risk Justification)
Currency exchange offices	66.12.Z	Anonymity, cross-border nature, high cash turnover, risk of smuggling funds.
Cryptocurrencies (exchanges, trading platforms)	66.12.Z, 66.19.Z	Pseudo-anonymity, difficulty tracking transactions, global reach, regulatory instability.
Real estate agents	68.31.Z	High-value transactions, often in cash, possibility of concealing the beneficial owner.
Accounting offices	69.20.Z	Risk of involvement in creating fictitious business structures and falsifying books.
Gambling (casinos)	92.00.Z	Large and rapid cash flows, ease of mixing legal and illegal funds.
Trade in precious metals and stones	46.72.Z, 46.76.Z	High value at low volume, difficulty verifying the origin of goods.
Security services	80.10.Z	Direct contact with the transport of high-value goods, which creates a risk of smuggling.
Cash-intensive sectors (restaurants, car washes)	56.10.A, 45.20.Z	A high share of cash makes it difficult to distinguish legal revenue from proceeds of crime.
Art dealers	47.79.Z	Subjective valuation, high-value transactions, artworks as a store of value.

Subsection 1.2: Risk Built Into the Business Model (Sector Risk)

The second group of high-risk industries are those whose business model is inherently unstable or cyclical. Banks, based on historical data, create internal “blacklists” of PKD codes (Poland’s business activity classification codes). These are associated with a higher probability of insolvency. In this case, the problem isn’t legal compliance, but pure economics. Unfortunately, even a perfectly managed company can fail if its entire sector falls into crisis.

Case Study 1: Construction (PKD Division 41, 42, 43)

The construction industry is a classic example of a sector with elevated risk, and its problems stem from several factors:

Payment gridlock: This is the sector’s biggest pain point. Long payment terms, often 60-90 days, create liquidity gaps for subcontractors. As a result, a company may be executing a profitable contract but go bankrupt due to a lack of payment for previous work.
Sensitivity to economic cycles: Additionally, construction is strongly correlated with the overall economic situation. High interest rates slow down the mortgage market. A slowdown in public investment, in turn, paralyzes the infrastructure segment.
Cost pressure: Sharp increases in material prices and labor costs drastically reduce margins, especially on long-term contracts.

Consequences for the bank: A construction company is unpredictable. What’s more, its success depends on the solvency of its counterparties and the condition of the market. This systemic risk causes banks to tighten their lending policy toward the entire industry.

How Do Banks Assess Sector Risk and What Does It Mean for Your Company?

Case Study 2: Transport and Logistics (TSL) (PKD Division 49.4)

The TSL sector, despite being the lifeblood of the economy, has been struggling with problems for years. According to KRD data from April 2025, the debt of the TSL industry reached PLN 1.59 billion.

Low margins and competition: The industry is characterized by enormous price pressure. As a result, competition pushes freight rates down to levels that barely cover costs.
Runaway costs: At the same time, companies are facing rising costs of fuel, road tolls, insurance, and wages.
Liquidity problems: Payment gridlock is the norm. Long payment terms (up to 60 days) mean that carriers have their cash frozen.
The specifics of drivers’ income: In the case of a JDG (Poland’s sole-proprietorship business form), where the owner is the driver, an additional problem arises. A significant part of his remuneration consists of per diem allowances, which banks often do not fully include when calculating creditworthiness.

Case Study 3: Catering and Hospitality (HoReCa) (PKD Division 55, 56)

The HoReCa sector continues to struggle with instability. KRD data from March 2025 indicates debt exceeding PLN 441 million. Importantly, payment reliability in the catering industry is low – only 74% of companies are considered trustworthy.

Sensitivity to consumer sentiment: In times of crisis, spending on restaurants and hotels is among the first that consumers cut back on.
Cost pressure: Rising energy and food prices, employment costs, and high rents constantly reduce margins.
Seasonality: The operations of many establishments are seasonal in nature. That’s why maintaining financial liquidity off-season is a huge challenge.

Subsection 1.3: New Risk Horizons – ESG and Geopolitics

New, global factors that banks must take into account are joining the traditional risks.

Climate and ESG Risk: Financial institutions are under pressure to assess portfolios for climate risks. As a result, companies from high-emission industries may encounter difficulties in obtaining financing without a decarbonization plan.
Geopolitical Risk: International instability and armed conflicts have moved to the forefront of bank risk assessment. They undoubtedly affect supply chains, raw material costs, and access to sales markets.

Section 2: Anatomy of a Rejection – 7 Most Common Reasons for Application Refusal

Moving from macro to micro analysis reveals universal reasons for application rejection. Regardless of the industry, banks apply a similar set of filters. The list below is a guide to the most common “sins” in the eyes of the analyst.

Bad history in BIK or BIG: This is a fundamental reason for refusal. The Credit Information Bureau and economic information bureaus are the first sources a bank turns to. In practice, any delays in repaying obligations create a negative credit history.
No credit history: Paradoxically, the problem can be not only a bad credit history, but also a clean one. An entrepreneur who has never bought anything in installments is an unknown quantity for the bank. In that case, the bank has no data to assess their reliability.
Low creditworthiness: This is the classic trap of tax optimization. Companies, aiming to minimize taxes, report low official income. Meanwhile, the bank bases its analysis on hard documents. Low income on paper therefore means a low capacity to service debt.
Company instability: Banks value stability, which is why they require a minimum period of operation (usually 12-24 months). Past suspensions of business activity are also a red flag. This is a signal that the company has struggled with problems.
Excessive debt: The analyst looks at the entire debt structure. A large number of open obligations is a warning signal. What’s more, banks include the entire granted limits on credit cards or overdrafts as liabilities, even if they are not being used.
Toxic “payday loan” financing: Using non-bank loans is a serious warning sign. It indicates that the entrepreneur has found themselves in a difficult situation and was unable to obtain standard financing.
Arrears with ZUS and the Tax Office: This is an absolute reason for refusal. Timely settlement of public-law obligations is, for the bank, a basis for assessing reliability. As a result, any arrears are proof of serious liquidity problems.

Section 3: How to Build Financial Credibility? A Guide for Entrepreneurs

A loan refusal is a signal that the company’s financial profile needs improvement. Building credibility is a strategic, long-term process. Below is a set of practical steps that will help with this.

Step 1: Foundations – Order in Finances and Documentation

Get your accounting in order: Reliable and transparent accounting is the starting point. All documents must be complete and compliant with regulations.
Zero arrears with ZUS/the Tax Office: This is an absolute condition. Before submitting an application, settle all obligations and obtain certificates of no arrears.
Prepare a professional business plan: A good investment plan is a powerful tool. It shows that you have a clear vision for growth and understand your market.
Separate business finances from personal ones: A dedicated business account allows the bank to easily analyze cash flows. In turn, regular, stable inflows build the image of a trustworthy company.

Step 2: Strategically Building Your Credit History

Monitor your BIK: Regularly obtain your BIK report. This will let you check what information the bank sees and quickly correct any errors.
Build a history consciously: If the company has no credit history, it’s worth building one. Take out a small loan for equipment or use leasing. Of course, the key is absolutely timely repayment.
Build a relationship with one bank: Loyalty pays off. Holding an account and using products at one bank over a longer period builds a valuable history of cooperation.
Avoid the “inquiry carousel”: Submitting multiple applications in a short period lowers your BIK score. Instead, it’s better to use the help of an independent loan advisor.

Step 3: Optimizing Your Creditworthiness Before Submitting an Application

Contact me, Łukasz Turczyn, Financial Expert, through the contact form
Close unused limits: Review your credit cards and overdraft lines. Close unused products, and reduce the limits on active ones to a minimum.
Consolidate your obligations: Consider consolidating small loans into one larger loan. This action will improve the transparency of your finances and often increase your creditworthiness.
Increase your own contribution: A higher down payment significantly reduces the bank’s risk. Similarly, solid collateral, such as a mortgage on a property, works.
Strategically show your income: If you’re planning to take out a loan, consider temporarily abandoning aggressive tax optimization. Undoubtedly, showing a higher, stable income for at least a year is the most effective way to build solid creditworthiness.

Section 4: When the Bank Says “No” – Alternative Sources of Financing

A rejected application is often a signal that a bank loan is not suited to your business. Fortunately, the market offers a wide spectrum of alternatives.

Financing Method	Ideal Candidate	Speed of Acquisition	Approximate Cost	Impact on Control
Factoring	Companies with deferred payment terms (TSL, construction)	Very fast (24-48h)	Commission (1-3% of invoice value)	None
Leasing	Companies needing fixed assets (vehicles, machinery)	Fast (a few days)	Leasing installments	None
Venture Capital	Innovative startups with high growth potential	Long (3-12 months)	Giving up equity (20-40%)	Significant
Crowdfunding	Projects with an engaging story	Medium (1-3 months)	Platform commission + possible equity	Dispersed
Private Debt	Mature companies needing flexible financing	Medium (a few weeks)	High interest rate (>10%)	Minimal

Detailed Discussion of Alternatives

Factoring – A Cure for Payment Gridlock: The company receives payment for an invoice almost immediately. This is an ideal solution for industries affected by payment gridlock. Importantly, it does not reduce creditworthiness.
Leasing – Asset Financing: The company uses cars, machinery, or equipment, paying regular installments. This is usually a solution that is more accessible than a loan.
Venture Capital and Business Angels – Fuel for Innovation: VC funds or private investors, in exchange for equity, provide capital and so-called “smart money” – that is, knowledge and contacts.
Crowdfunding – The Power of Community: This is raising capital from a large number of small investors through online platforms. Moreover, it is a powerful marketing tool and a way to validate an idea in the market.
Private Debt – Flexible Debt for the Demanding: This is financing from specialized funds, not banks. It offers greater flexibility and a faster decision-making process than banks, although it is more expensive.

Summary: The Road to Financing – Strategy, Not Chance

The road to obtaining financing, especially in the reality of a Polish entrepreneur operating in a high-risk industry, is a marathon, not a sprint. As this analysis shows, a loan refusal is rarely a matter of chance. Most often, it is a logical consequence of a combination of regulatory factors, the condition of the sector, and the individual financial profile of the company.

The key conclusions that should become part of every entrepreneur’s strategy are as follows:

Diagnose the two dimensions of risk. You need to understand whether the main obstacle is regulatory risk (AML) or economic risk (payment gridlock, low profitability).
Treat your creditworthiness like a project. It cannot be built in a week. It is the result of careful attention to order in documents, conscious management of your BIK profile, and financial discipline.
Treat a bank’s refusal as a signal. Perhaps you need a different partner and a different tool. The market offers a wide range of alternatives that are much better suited to specific needs.

Ultimately, obtaining financing in today’s dynamic economic environment is not a lottery, but a key element of business strategy. It requires a deep understanding of the rules of the game, meticulous preparation, and flexibility.

Do you run a company in one of the industries mentioned? What has your experience been like dealing with banks? Share your story in the comments – your experience could be an invaluable lesson for other entrepreneurs.

Strategies for Improving BIK Scoring and Credit History for Companies from Risky Industries

Companies from high-risk industries can improve their BIK rating by focusing on financial stability and transparency. It is key to settle all obligations on time – not only loans, but also invoices to business partners, which builds a positive history in economic databases. It is also worth regularly monitoring your BIK report and checking it for errors – under the law, you are entitled to a free report once every 6 months. Additionally, maintaining a low level of debt relative to revenue and diversifying financing sources (e.g., through leasing or factoring) can positively affect your score. Remember that banks analyze not only credit history but also the stability of cash flows – so it’s worth keeping transparent accounting and avoiding sudden jumps in turnover. You can find more about the factors affecting scoring on the BIK website.

Alternative Sources of Financing for Companies from Risky Sectors

When banks refuse a loan, entrepreneurs from high-risk industries can consider alternative forms of financing, such as factoring, leasing, or private equity funds. Factoring allows for quickly obtaining funds from unpaid invoices, which improves liquidity without the need to take on debt – it is particularly useful in industries with long payment terms, such as construction. Leasing is a good option for financing fixed assets (e.g., vehicles in transport), because the leased item serves as collateral, which lowers the risk for the financing party. Private equity funds, in turn, can invest capital in exchange for shares in the company, which is a solution for businesses with high growth potential. Before choosing, it’s worth analyzing the costs and terms – detailed information on financial market regulations can be found on the KNF website.

The Impact of New EU Regulations (AML Package 2024) on Loan Availability

The new EU AML package, being implemented since 2024, imposes an obligation on banks to conduct even more thorough verification of clients from high-risk industries. This means that companies from sectors such as currency exchange, cryptocurrencies, or gambling must expect more detailed inquiries about sources of financing and beneficial owners. Banks will require additional documentation, such as compliance audits or certificates confirming no ties to entities from countries considered high-risk. Although these regulations may lengthen the loan process, they simultaneously increase transparency and may make it easier for companies that demonstrate full regulatory compliance to access financing. It is worth following updates on the GPW Benchmark website and in the Journal of Laws (ISAP), where implementation details are published.