fbpx
On 3 April 2020, the Federal Council decided to increase the guarantee volume for the SME loan programme to a total of CHF 40 billion. At the same time, additional measures to prevent abuses of the programme are to be taken. The Swiss Bankers Association (SBA) remains in close dialogue with the authorities regarding the loan programme.

At its meeting on 3 April 2020, the Federal Council decided to augment the joint and several guarantees programme for Covid bridging loans and to request Parliament to increase the existing credit to a total of 40 billion Swiss francs.

Over 76,000 loan agreements

To date, the SME loan programme has been implemented efficiently and quickly. Processing via the banks is working very well: as at 2 April 2020, 76,034 loan agreements with a volume of 14.3 billion Swiss francs had been concluded.

Preventing abuses

The SME loan programme serves to support companies which are directly affected by the corona crisis and are facing liquidity shortages. To prevent abuses of the programme, the Federal Council has decided to develop further measures in the fight against such abuses. The SBA welcomes this course of action. The concrete measures and approaches must, however, still be examined in detail and if required, amended. The SBA in particular welcomes the fact that the central unit of the loan guarantee organisations is verifying all loan agreements to ensure the basic requirements are met and to check whether multiple loan requests have been submitted. The systematic verification of loans by linking VAT and other data is also expedient and important.

The SBA remains in close dialogue with the authorities regarding the implementation of the programme.

Source:

https://www.swissbanking.org/en/media/news/sme-loan-programme-federal-council-increases-guarantee-volume

Michael AW

Michael AW

Michael is the founder of Fantastic Switzerland Associaton. A non-profit organization to promote the location of Switzerland

Leave a Reply

Your email address will not be published. Required fields are marked *

Close

Social Media

Subscribe to our Newsletter