responsibility finder
Schleswig-Holstein

Apply for a favorable loan for investments by companies and freelancers

Source: Zuständigkeitsfinder Schleswig-Holstein (Linie6Plus)

Service Description

If you need financing for investments or working capital for your commercial enterprise, you can apply for a favorable loan with redemption-free periods under certain conditions.

The Federal Ministry for Economic Affairs and Energy (BMWi) is helping companies to cushion the economic impact of the coronavirus crisis.
You can receive funding of up to EUR 100 million for:

  • all investments that are expected to lead to sustainable economic success,
  • for operating resources / running costs, such as rent, salaries and warehouses,
  • the purchase of other companies or a stake in them,
  • the purchase of assets from other companies (e.g. production facilities),

You will not receive funding

  • if your company was already in economic difficulties before 31.12.2019 (before the Corona crisis),
  • if you distribute profits or dividends during the term of your loan
  • for rescheduling or extending existing loans,
  • if you want to replace the utilization of your credit line with your house bank
  • for follow-up financing of projects that have already been started or completed,
  • if you are a business start-up or your company has been in existence for less than 5 years,
  • for fiduciary structures and silent partnerships,
  • for so-called in-sure transactions, such as the purchase of your own company shares,
  • for residential, non-profit and municipal use in the case of letting and leasing,
  • if your company is excluded from state aid,
  • if you have already started the measure before submitting the application.

You can receive a maximum loan of EUR 100 million. The maximum amount of your loan is limited to

  • 25 percent of your annual turnover in 2019 or
  • twice your wage costs in 2019 or
  • the liquidity requirement
    • for 18 months for small and medium-sized enterprises (with fewer than 250 employees and an annual turnover of no more than EUR 50 million)
    • for 12 months for large companies (with more than 250 employees regardless of annual turnover).

For loans over EUR 25 million, you cannot receive more than 50 percent of the total debt or 30 percent of your company's balance sheet total as a loan.

You can finance up to 100 percent of the eligible costs via the loan.
Eligible measures are

  • Investments
  • operating resources
  • Warehouses
  • Acquisition of assets from other companies and active participations

You pay a reduced interest rate of between 1.00 and 2.12 percent per year for the loan. Your individual interest rate depends on

  • your financial circumstances (creditworthiness) and
  • the quality of your collateral.

Small and medium-sized enterprises (SMEs) receive particularly favorable interest conditions.

You can initially only pay interest for up to 3 years after disbursement of the loan (grace period). This gives you greater financial leeway in the initial period after the investment.

You can choose the following loan terms for your project:

  • for loans over EUR 800,000:
    • up to 6 years term
      • with a maximum of 2 redemption-free years
      • and a fixed interest rate for the entire term of the loan.
  • for loans up to EUR 800,000:
    • up to 10 years term
      • with a maximum of 2 redemption-free years
      • and a fixed interest rate for the entire term of the loan.
  • if you only finance running costs (operating resources and stock):
    • up to 2 years term
      • with a fixed interest rate for the entire term of the loan and
      • repayment in one sum at the end of the term.

When you have completed the investment, you must prove that you have spent the money from the loan in full on your measure.
You must keep all documents relating to the eligible costs.
You can repay all or part of the loan early. In this case, you will have to pay an extra fee (early repayment penalty).

Applications for funding are processed by the Kreditanstalt für Wiederaufbau (KfW).

You have no claim to approval of the subsidy.

Note:
You can combine the funding from this program with other funding from the Kreditanstalt für Wiederaufbau (KfW).


Process flow

Your application for funding is submitted in writing to the Kreditanstalt für Wiederaufbau (KfW) via your house bank/financing partner.

  • You first need a financing partner, through whom you then submit your application to KfW. The financing partner can be a bank, savings bank or financial intermediary.
  • Select your financing partner and make an appointment for a consultation. If you are looking for a financing partner, you can use the online consultation request on the KfW website.
  • Prepare your application before the appointment with the financing partner using the online-based KfW Promotion Assistant. To do this, go to the KfW website and enter the information requested by the KfW Promotion Assistant. When you have finished, you will automatically receive a summary of your details. Print out the summary and take it with you to your consultation with your bank/financing partner.
  • During the consultation, your financing partner will check whether your planned measure meets all the requirements and whether you are creditworthy.
  • You complete the loan application together with your financing partner. Your financing partner will inform you which other documents you need for your application.
  • Your financing partner submits the completed loan application to KfW. KfW checks your application and decides on the funding.
  • You will then receive notification from KfW via your house bank/financing partner as to whether your loan has been approved.
  • Conclude the loan agreement with your financing partner and start the project. KfW will pay you the loan amount on demand.
  • Once you have completed the measure, you must prove to your financing partner that you have spent all the money from the loan on the measure. You submit this proof to your financing partner.
  • Your financing partner checks and confirms your proof and forwards it to KfW.
Requirements

Applications can be submitted:

  • Companies in the commercial sector
    • based in Germany
    • based abroad that submit applications for subsidiaries in Germany
    • that have been in existence for at least 5 years
    • which are majority privately owned
  • sole traders or freelancers
    • based in Germany
    • based abroad who submit applications for subsidiaries in Germany
    • that have been in existence for at least 5 years or are self-employed
  • commercial social enterprises
    • with the intention of making a profit
    • which have been in existence for at least 5 years

Further requirements:

  • You must be creditworthy
  • Your measure must be expected to be a sustainable economic success
  • Your company may not pay out any profits or dividends during the term of the loan (normal market distributions or withdrawals for business owners are possible)
  • the term of the loan must be at least 2 years
Which documents are required?

You must submit the following when applying:

  • Supplementary information Special measure Corona aid
  • Declaration of cumulation of small grants and low-interest loans or
  • Declaration of cumulation by the final borrower/participant
  • for small and medium-sized enterprises (SMEs):
    • Simplified self-declaration SME (if your company is independent and not interlinked with other companies) or
    • SME self-declaration (Annexes 3-5) with SME definitions information sheet (if your company is not independent and is interlinked with other companies)
  • Consent for requests for information (e.g. for a SCHUFA report)
  • For applicants who do not prepare a balance sheet: Declaration of consent

You may need to submit further documents.

What are the fees?

Not applicable

What deadlines do I have to pay attention to?
  • Application under the KfW special program
    • until 31.12.2020, thereafter regular conditions
    • Before the start of the measure
  • Loan drawdown period: within 12 months of loan approval, in one lump sum or in installments
  • Proof of use of the funds via your house bank/financial partner after full disbursement of the loan
Processing duration

KfW usually needs 2 to 4 weeks/ to process your application.

Note:
Once you have submitted your application, you can start the measure at your own financial risk.

Legal basis
Appeal

none

Applications / forms
  • Forms: yes
  • Online procedure possible: no
  • Written form required: yes
  • Personal appearance required: yes (at the financing partner)

Note:
You will receive the original forms from your financing partner. You fill out the forms together.

Author
Forwarding service: Deep link to the original portal

The text was automatically translated based on the German content.

Teaser

If you need financing for investments or working capital for your commercial enterprise, you can apply for a favorable loan with redemption-free periods under certain conditions.

Process flow

Your application for funding is submitted in writing to the Kreditanstalt für Wiederaufbau (KfW) via your house bank/financing partner.

  • You first need a financing partner, through whom you then submit your application to KfW. The financing partner can be a bank, savings bank or financial intermediary.
  • Select your financing partner and make an appointment for a consultation. If you are looking for a financing partner, you can use the online consultation request on the KfW website.
  • Prepare your application before the appointment with the financing partner using the online-based KfW Promotion Assistant. To do this, go to the KfW website and enter the information requested by the KfW Promotion Assistant. When you have finished, you will automatically receive a summary of your details. Print out the summary and take it with you to your consultation with your bank/financing partner.
  • During the consultation, your financing partner will check whether your planned measure meets all the requirements and whether you are creditworthy.
  • You complete the loan application together with your financing partner. Your financing partner will inform you which other documents you need for your application.
  • Your financing partner submits the completed loan application to KfW. KfW checks your application and decides on the funding.
  • You will then receive notification from KfW via your house bank/financing partner as to whether your loan has been approved.
  • Conclude the loan agreement with your financing partner and start the project. KfW will pay you the loan amount on demand.
  • Once you have completed the measure, you must prove to your financing partner that you have spent all the money from the loan on the measure. You submit this proof to your financing partner.
  • Your financing partner checks and confirms your proof and forwards it to KfW.

Requirements

Applications can be submitted:

  • Companies in the commercial sector
    • based in Germany
    • based abroad that submit applications for subsidiaries in Germany
    • that have been in existence for at least 5 years
    • which are majority privately owned
  • sole traders or freelancers
    • based in Germany
    • based abroad who submit applications for subsidiaries in Germany
    • that have been in existence for at least 5 years or are self-employed
  • commercial social enterprises
    • with the intention of making a profit
    • which have been in existence for at least 5 years

Further requirements:

  • You must be creditworthy
  • Your measure must be expected to be a sustainable economic success
  • Your company may not pay out any profits or dividends during the term of the loan (normal market distributions or withdrawals for business owners are possible)
  • the term of the loan must be at least 2 years

Which documents are required?

You must submit the following when applying:

  • Supplementary information Special measure Corona aid
  • Declaration of cumulation of small grants and low-interest loans or
  • Declaration of cumulation by the final borrower/participant
  • for small and medium-sized enterprises (SMEs):
    • Simplified self-declaration SME (if your company is independent and not interlinked with other companies) or
    • SME self-declaration (Annexes 3-5) with SME definitions information sheet (if your company is not independent and is interlinked with other companies)
  • Consent for requests for information (e.g. for a SCHUFA report)
  • For applicants who do not prepare a balance sheet: Declaration of consent

You may need to submit further documents.

What are the fees?

Not applicable

What deadlines do I have to pay attention to?

  • Application under the KfW special program
    • until 31.12.2020, thereafter regular conditions
    • Before the start of the measure
  • Loan drawdown period: within 12 months of loan approval, in one lump sum or in installments
  • Proof of use of the funds via your house bank/financial partner after full disbursement of the loan

Processing duration

KfW usually needs 2 to 4 weeks/ to process your application.

Note:
Once you have submitted your application, you can start the measure at your own financial risk.

Legal basis

Appeal

none

Applications / forms

  • Forms: yes
  • Online procedure possible: no
  • Written form required: yes
  • Personal appearance required: yes (at the financing partner)

Note:
You will receive the original forms from your financing partner. You fill out the forms together.

Author

Forwarding service: Deep link to the original portal

The text was automatically translated based on the German content.

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