So far, 70 billion euros in corona aid

So far, the federal government has launched corona aid amounting to over 70 billion euros (Image: pixabay)

In the Corona year 2020, the federal government has so far supported German companies with over 70 billion euros in direct aid. The vast majority of these payments (around 46 billion euros) flowed as KfW loans. Overall, the Corona aid for commercial and freelance companies is the largest aid package in the history of the Federal Republic. In addition to KfW loans and recapitalizations, it includes sureties and guarantees, as well as grants such as immediate and bridging aid.

According to a detailed and up-to-date list by the Federal Ministry of Economics, the previously approved aid consists of loans from the KfW special program (45.7 billion euros), recapitalizations within the framework of the economic stabilization fund for companies such as TUI and Lufthansa (6.5 billion euros) and guarantees ( 4.1 billion euros) together.

Grant payments decreased over the year

In addition, there are grants for small businesses, the self-employed and freelancers: These included emergency aid up to May 2020 (13.7 billion euros), in summer the bridging aid program I (1.5 billion euros), and from September the bridging aid program II (0.2 billion euros) Euro). So far, around 58,000 applications with a volume of more than 1.1 billion euros have been submitted for bridging aid II; the approvals have been running since the end of October. Since the end of November it has also been possible to apply for November aid. So far, around 151,000 applications with a funding volume of 2.5 billion euros have been received, and November aid approvals have been around 400 million euros. The list thus shows that the amount of the payments of grants to small and medium-sized enterprises in the second half of 2020 is significantly lower than at the beginning of the pandemic.

Aid program for small and medium-sized companies and start-ups extended

The Federal Ministry for Economic Affairs and Energy and the Federal Ministry of Finance have now also commissioned KfW to Financing package for start-ups and small and medium-sized enterprises in the amount of two billion euros until June 30, 2021. Thanks to the extension, young companies should now be able to receive commitments for equity and equity-like financing from the package of measures for another six months.

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