Tackling the Coronavirus Crisis
The German Ministries of Finance and Economic Affairs and Energy – together with the state-owned bank for domestic and foreign economic development, the KfW have undertaken the beginning of the massive economic relief programs.
The plan aims to ensure that German companies have funds to stay in business and ride out the Coronavirus crisis. The KfW is offering to cover up to 90 percent of risk in order to encourage banks to make low-interest commercial loans to struggling companies. No limit has been set on funds available for the guarantee program, which is open to all business that were not encountering financial difficulties as of December 31, 2019.
“The focus is on helping businesses quickly and non-bureaucratically,” said German Economics Minister Peter Altmaier. “One major pillar is access to liquidity. Funds will be made available as quickly as possible since we know that for many companies every week counts.”
“Together with the KfW, we are ensuring that companies can remain solvent during the crisis,” said Finance Minister Olaf Scholz. “To that end we are using the great financial might of the state. The state will place the necessary volume of guarantees as the disposal of the KfW.”
The two ministries also announced that they are immediately making 50 billion EUR available for small businesses and self-employed people.
Important contact centres for information on the current CORONA crisis:
Federal Ministry of Economics and Energy
Federal Ministry of Finance
Corona Task Force
Federal Ministry of Labour and Social Affairs
Occupational health and safety issues concerning the Coronavirus (SARS-CoV-2)
Corona virus: Information for companies on short-time work compensation
Corona Emergency Aid offered by different German states
The state government provides direct aid in the billions to help small and medium-sized enterprises and the self-employed and to prevent a wave of insolvencies.
In order to be able to provide SMEs with even better support in the current difficult situation, the Landeskreditbank (LBank) and the Bürgschaftsbank have supplemented their range of services. These measures support all commercial small and medium-sized enterprises and the liberal professions across all sectors and will be implemented by Bürgschaftsbank with immediate effect.
Hotline and emails for companies in Baden-Württemberg:
Phone: 0711/122-2999 – Monday to Thursday 8.30 to 16.30, Friday 8.30 to 16.30 hrs
Corona Emergency Aid
The state government provides emergency aid to small businesses in particular. Companies in need receive between 5,000 and 30,000 Euros at very short notice and without red tape. The Ministry of Economics has created the conditions for the implementation of a support programme “Emergency Aid Corona”.
Corona emergency aid for commercial enterprises and self-employed persons including members of the liberal professions
Amount of the Corona emergency aid:
- 5.000 Euro (up to 5 employees)
- 7.500 Euro (up to 10 employees)
- 15.000 Euro (up to 50 employees)
- 30,000 Euro (up to 250 employees)
You can find comprehensive information here:
Corporate Hotline Bavaria:
089/12 22 20 – Monday to Thursday from 08:00 to 18:00 hrs, Friday from 08:00 to 16:00 hrs
Aid from the LfA for companies and freelancers:
LfA Förderbank Bayern has a wide range of funding instruments at its disposal to provide rapid and targeted support to companies that get into financial difficulties in the wake of the corona epidemic.
LfA Förderberatung offers fast and free information, particularly on liquidity support, at
Phone: 089 2124-1000
If you have any questions about public financial aid and would like to request information material, please contact the staff of our funding advisory service by telephone on 089 2124-1000 or by e-mail at firstname.lastname@example.org, Monday to Thursday from 8 a.m. to 6 p.m. and on Fridays from 8 a.m. to 3 p.m.
Hotline and e-mail for companies in Berlin:
Hotlines and e-mail addresses of the state of Brandenburg:
Brandenburg (Havelland, Ostprignitz-Ruppiner, Prignitz)
North-East Brandenburg (Oberhavel, Barnim, Uckermark districts)
East Brandenburg (Märkisch-Oderland, Oder-Spree and the city of Frankfurt/Oder)
Phone: 0335/283 960-11
Southern Brandenburg (Spree-Neisse, Oberspreewald-Lausitz, Elbe-Elster and the city of Cottbus)
Phone: 0355/784 22-14
Central/Western Brandenburg (Dahme-Spreewald, Teltow-Fläming, Potsdam-Mittelmark and the cities of Potsdam and Brandenburg an der Havel)
Phone: 0331/730 61-237
Hotline and email for companies in Bremen:
Hamburg Investment and Development Bank (IFB Hamburg)
Extensive protection screen for self-employed and small companies:
- 2.500 Euro for individual free-lancer
- 5,000 Euro for small businesses with up to 10 employees
- 10.000 Euro for small companies with up to 50 employees
- 25,000 Euro for small businesses with up to 250 employees
The Bürgschaftsgemeinschaft Hamburg offers guarantees in cooperation with the FHH.
Hotline and information for companies in Hamburg:
T: 040/432 1694
Community of Guarantors
T: 040/611 700 100
T: 040/248 46 533
Information on subsidised loans and state guarantees can be found at IFB.
Hotline of Bürgschaftsbank Hessen:
T: 0611/150 777
Hotline for companies:
T: 0385-588 5588, Monday to Friday, 08:00 to 20:00 hrs
By increasing its counter-guarantee share, Mecklenburg-Vorpommern is participating in doubling the guarantee volume of the Bürgschaftsbank M-V for loans from house banks from 1.25 million euros to up to 2.5 million euros per individual case.
Fast guarantees up to 250,000 euros
Guarantees up to a loan volume of EUR 250,000 for SMEs can be decided in an abbreviated and simplified procedure by the guarantee bank without further involvement of a committee.
Hotlines and e-mail addresses of the state of Lower Saxony:
Contact person at the NBB:
Lars Luther and Carsten Bolle
Phone: 0511/33 70 50
For state guarantees: PwC as an authorized agent of the state:
telephone: 0511/535 75323
Phone: 0511/5357 5351
Mobile 0171/766 5908
Hotline of the development bank NRW:
Telephone Service Centre: 0211/9174148
Hotline for companies in Rhineland-Palatinate:
Phone Service Center: 06131/16-5110
A Business Assistance Corona Unit was set up in the Ministry of Economic Affairs. Companies can contact this unit with their questions:
Hotline Business Assistance Corona:
Liquidity support for freelancers and SMEs
There is liquidity support for micro-enterprises and freelancers through repayable grants of up to 20,000 euros, and for operating expenses of SMEs through repayable grants of up to 200,000 euros. The funds are to be disbursed in a simplified procedure by the Gesellschaft für Arbeitsmarkt und Strukturentwicklung (GSA).
T: 0681/501-4433 (Monday to Friday, 09:00 to 18:00 hrs)
The Sächsische Aufbaubank – Förderbank (SAB) is available as contact partner. The advice is free of charge. Phone: 0351 / 4910-1100.
The tax authorities will also accommodate affected companies. Upon application, ongoing advance payments for income tax and corporate income tax can be reduced or suspended. Tax payments due can be deferred and late payment surcharges can be waived. Enforcement measures can also be temporarily waived.
Hotline for companies in Saxony:
Phone: 0351/4910-1100 (SAB)
All companies should first contact their house bank. Suitable and common measures in the event of temporary liquidity problems in the company consist of extending the loan terms and repayment deferrals in order to reduce the outflow of liquidity in the company.
In the second step, however, companies can also approach the Investitionsbank Sachsen-Anhalt or the Bürgschaftsbank Sachsen-Anhalt with their house bank.
The guarantee bank and Mittelständische Beteiligungsgesellschaft Sachsen-Anhalt is providing around 205 million euros to secure loans totalling around 390 million euros.
Hotline for companies in Saxony-Anhalt:
T: 0391/567-4750, on workdays between 08.30 and 16:00 hrs
Corona emergency aid program with 100 million Euro for small businesses and solo self-employed decided:
- 2,500 Euro for individual free-lancers and professionals
- 5,000 Euro for entrepreneurs from 1 and up to 5 full-time employees
- 10,000 Euro for entrepreneurs with up to 10 full-time employees
The Ministry of Finance has also announced tax measures to ease the burden on affected companies.
Hotlines and important addresses of the state of Schleswig-Holstein:
Contact Persons are:
These contacts coordinate the funding of IB.SH, MBG and BB-SH and represent all three institutes.
Information for companies in Thuringia:
Sources: GTAI, Wirtschaftsbeirat Bayern; Institut der Wirtschaftsprüfer IDW; Handwerksblatt; Ifo-Institut München; Lehrstuhl für VWL, Geld und internat. Wirtschaftsbeziehungen, Julius-Maximilians-Universität Würzburg.