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Coronavirus / IncentivesBusiness Location Germany
Coronavirus
Sep 23, 2020
Record Covid-19 Aid Package for Business
The largest aid package in German history is helping commercial, freelance and self-employed enterprises navigate a way through the global coronavirus crisis.
Almost EUR 70 billion in aid already approved
Almost EUR 70 billion in financial aid has already been made available to commercial, freelance and self-employed enterprises in order to help them stay afloat during the ongoing Covid-19 pandemic (as of September 22, 2020). As such, the package of aid measures represents the largest aid package in German history.
Granted support comes from the KfW Special Programme (EUR 44.8 billion); emergency aid for SMEs, the self-employed and freelancers (EUR 13.8 billion*); the Economic Stabilization Fund (EUR 6.4 billion); and guarantees from the guarantee banks (EUR 1 billion) and large guarantees (EUR 2.7 billion).
More than 76,000 applications with a volume of EUR 1 billion have been made to the bridging aid program for SMEs to date, with EUR 772 million in loans already approved.
*Federal and state funds: the approved volume is a minimum level that may in fact be higher, as the most up-to-date data for all federal states is not yet available.
Germany Trade & Invest Incentives Services
Companies seeking more information about available financial aid can contact Germany Trade & Invest’s Financing & Incentives team of experts who are able to provide general information about all types and sources of funding and incentives programs available in Germany.
