Money for business: Fixed cost subsidies will be available this year
 
Finance Minister Blümel: Fixed cost subsidies will be available this year. Applications possible from 20th May
 

“We have already achieved a great deal with the €38 bn protective package we have extended over the Austrian economy. Much remains to be done, but a total of around €19 bn in funding has been committed so far. There is a €15 bn corona relief fund, which is processed via COFAG and includes two relief mechanisms. On the one hand, there are loans, which are guaranteed by the state and granted through the banks”, said Finance Minister Gernot Blümel at today’s press conference on corona aid. COFAG has provided around €1 bn in guarantees by now. Austria is one of only four EU countries to offer 100% guarantees.

Advance payment of the fixed cost subsidy

Additionally to the state guarantees, the fund provides a second relief mechanism in the form of grants to particularly hard-hit companies. These grants cover fixed costs and perishable goods. The subsidy is staggered and, depending on the extent of the loss, up to 75 % of fixed costs and perishable goods can be reimbursed. It is now also possible to pay this subsidy in advance. “We have received a lot of feedback from entrepreneurs that the money is needed now and that they cannot wait for a settlement next year. This is why we have decided to make the money available this year, and that a part of it should be made in advance”, continued Finance Minister Blümel. Applications can be submitted on FinanzOnline from 20th May. The finance office checks plausibility in an automated process before COFAG conducts the final checks and approves the payment. “The first payment can potentially cover a third of the total costs and will be made within ten days”, says Finance Minister Blümel.

Overview of the most important questions and answers (in German)

Press conference images