Guarantee scheme for viable businesses

The federal authorities have implemented a federal guarantee scheme, together with the financial institutions, for viable non-financial businesses and one-man businesses. 

All new and additional loans and credit lines of maximum 12 months (excluding refinancing credits) granted by financial institutions until September 30, 2020 are subject to the federal guarantee scheme. The government grants a guarantee for credits of maximum 50 million euro per business.

The guarantee scheme gives viable businesses, SME’s, one-man businesses and non-profit organizations the opportunity to receive new credits when they have little or no guarantee to offer to the bank.

The business has to request the approval of the authorities in order to receive the new credit subject to the guarantee scheme.

The period to request the guarantee scheme as well as the condition for credit lines of maximum 12 months can be prolonged by a Royal Decree depending on the impact and period of the effects of the Corona crisis and depending on the economical necessities