Media houses mentioned that Bolt is asking for 50 million euros ($54 million) in loans or public credit guarantees after commercial lenders refused to take part under existing state guarantees.

Bolt has confirmed that it is not seeking a state bailout from the Estonian government, or any other government. The company has not sought any bank loans in response to the COVID-19 crisis, and in turn, no loans have been declined.

Rather, Bolt requested that the Estonian government review its upper limit of five-million Euros on state guarantees to include technology start-ups and companies. This request is in line with the general crisis environment where all companies are facing challenges as a result of the global pandemic.

Since Bolt proposed this amendment, the Estonian government has confirmed that it is considering changing its state guarantee limits. Bolt has worked to adapt to the crisis environment and keep drivers earning an income by cutting operating costs and expediting the opening of new services, including the launch of home food delivery and new courier service in markets abroad.

Bolt Business Delivery and Bolt Isolated Cars launched recently in South Africa, with Bolt Food delivery service launching this week.