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Germany is extending its already impressive liquidity scheme for companies, this time #SMEs are in focus. #Covid19 /quick thread
SMEs can now borrow up to 800k (or 3 months revenue, whichever is lower), for up to 10 years with 100% (!) federal guarantee. So basically: everyone. /2
Well not quite, companies need to show they were profitable before (either in 2019 or average 2017-2019) and not insolvent/restructuring. #Repayment can be waived for first 2 years, early repayment at discretion of the borrower. /end
PS: This is all economically justified. But once more, it needs to be made clear that *all* European countries need to be able to do this. Here is how it could be done. https://www.cer.eu/insights/proposal-coronabond-pandemic-solidarity-instrument
