State loans for more firms and for longer

State loans for more firms and for longer

The Finance Ministry is now considering extending the loans to companies known as the “Deposit To Be Returned” until June, taking into account market needs.

Sources say the expansion of the 1-billion-euro state lending package could mean enterprises that have already applied for this form of cash support in the original phase being able to reapply, so that they get extra cash if the data in April and possibly in May reveal huge economic damage demanding the further intervention of the state.

The ministry may also decide to include enterprises that have been excluded from all other funding instruments to date, and it is particularly likely that the eligibility terms for the provision of this five-year loan will be amended too.

Nevertheless, all that will be decided after the completion of the existing procedure set to end on April 21. Once the final figure of eligible recipients becomes known, the cash will be distributed to them. Of course the fact that 70,000 applications have already been finalized does not mean they will all get the loan.

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