July 6, 2020
Corona Crisis: Additional federal short-term financial assistance
Who is eligible for the federal short-term financial assistance?
For funding are eligible, among others: small and medium-sized enterprises (SMEs), sole proprietorships, and members of the self-employed professions whose turnover in April and May 2020 collectively fell by at least 40 to 60 percent compared to the same months of the previous year in April and May 2019.
If this applies, the Federal Government will grant you a non-repayable subsidy for the months June to August 2020 in the amount of
- 80 percent of the fixed costs in the event of a more than 70 percent decline in sales
- 50 percent in case of a decline between 50 and 70 percent
- 40 percent in case of a decline between 40 and under 50 percent
Fixed costs include
- Rent and lease of buildings
- Interest expenses
- Expenses for electricity, water, heating,...
- Costs for tax consultants and auditors incurred in connection with the application for Corona stop-aid gaps
- Costs for trainees
- Personnel expenses not covered by short-time working allowances at a flat rate of 10%.
The total sum is calculated as follows:
- The maximum grant is 150,000 euros for three months
- For companies with up to five employees, the maximum reimbursement amount is 9,000 euros for three months
- For companies with up to ten employees, the maximum reimbursement amount is 15,000 euros for three months
- In justified exceptional cases - small enterprises with very high fixed costs - these maximum amounts may be exceeded.
The total funding volume amounts to 25 billion euros. So if you are in need, apply for the funds together with a tax consultant or an auditor before the funds are exhausted.
Find out more details and how to apply at the Federal Ministry of Finance.
Check out the Corona aid information page at Hamburg Kreativ Gesellschaft for more information about additional programs.