FINANCE

Gefyra 2 financial support program to begin next month

gefyra-2-financial-support-program-to-begin-next-month

More than 100,000 freelance professionals, personal enterprises and small and medium-sized enterprises stand to benefit from the “Gefyra 2” state subsidy program for corporate loans that the Finance Ministry will activate next month.

The subsidy will apply for eight months, starting from 90% of the loan’s tranche for consistent debtors and dropping to 70% by year-end, while for companies with delayed loans, the coverage will start from 80% and drop to 60% of the tranche by the end of the subsidy period.

The ministry’s objective is to incorporate into the measure loans that banks have already deemed to be “bad,” for which the tranche subsidy will amount to 70% at first before sliding to 50%. Details on this category of debtors will be announced over the coming days.

Inclusion in this program will cover freelancers and enterprises with an annual turnover of up to 50 million euros, regardless of the debts they have to banks. The maximum subsidy will range from €600 for personal enterprises and freelancers to €50,000 for medium-sized companies, as long has they have suffered a 20% annual decline in turnover.