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aws bridging guarantees expanded
Thanks to the active support of the interest group, higher collateral for loans could be achieved.
aws bridging guarantees expanded
“Our political efforts were worth it thanks to the special commitment of committee lobbyist Adolf Seifried: the aws bridging guarantees were significantly expanded. The innovation includes a 100% guarantee rate for loans up to EUR 500,000 and a 90% guarantee rate for loan amounts exceeding this,” writes the Federal Trade Division in a press release and expressly thanks the committee's lobbyist Seifried for his political support.
Austria Wirtschaftsservice GmbH (aws) is the federal government's development bank and handles the CORONA support instruments on behalf of the federal government. For the Bridging guarantees was achieved:
The aws guarantee conditions previously required that companies must have an equity ratio of more than 8% and a fictitious debt repayment period of less than 15 years (URG criteria).
Due to high investments, many companies - especially SMEs - do not meet the URG criteria (Company Reorganization Act). In retail alone, 31% of companies have an equity ratio of less than 8%. Together with SME research, it was determined that around 20% (approx. 67,000!) SMEs in the overall economy do not meet the URG criteria. The efforts have been fruitful: the aws bridging guarantees have been significantly expanded.
The innovation includes a 100 percent guarantee rate for loans up to 500,000 euros and a 90 percent guarantee rate for loan amounts exceeding this. Using a fast-track procedure, aws permits are usually approved within 24 hours. The URG criteria have been removed for these guarantees - a great success! In addition, our trading companies will gain liquidity quickly!