CORONA Relief Fund for Agriculture and Forestry
The CORONA Relief Fund has been established in order to help Austrian enterprises who have got into a liquidity shortage due to the COVID-19 crisis. The fund is endowed with an amount of € 15 billion and helps also agricultural and forestry enterprises to cushion losses of turnover, fixed costs and losses of values of goods.
The relief fund is available to all agricultural and forestry enterprises and contains two instruments:
1. Bridging guarantees for agricultural and forestry enterprises:
As a compensation for turnover losses you have the possibility to apply for bridging guarantees for credits via your principal bank. The duration is up to five years. Depending on the credit line, three guarantee options are available.
100 % guarantee
- For primary agricultural production with a maximum credit line of € 100,000;
- For enterprises of the fishing and aquaculture sectors with a maximum credit line of €120,000;
- For other SME with a maximum credit line of € 500,000;
The interest rate cap is fixed at 0 % per year for the first two years, afterwards three months Euribor + 0.75% redemption-free until 1 January 2021
- For a maximum credit line of € 27.7 million. The concrete cap is calculated on the basis of the demand for liquidity and/or of two times the amount of the wages and the salaries or 25% of the annual turnover of the year 2019.
The interest rate cap is fixed at 1 % per year.
80 % de minimis guarantee
- for a maximum credit line of € 1.5 million
The interest rate is variable.
The deadline for the submission for all credits and/guarantees is the 15th of December 2020. Further information is available at www.aws.at as well as at the hotline: +43 1 501 75 - 500 (Monday to Sunday: 8 a.m. to 5 p.m.)
2. Fixed cost subsidies
These are tax-free, non-refundable allowances to cover fixed costs resulting from the Corona crisis. The allowance is graduated and is granted subject to the following conditions:
- Headquarters or permanent establishment and operative activity in Austria:
- The enterprise has suffered a loss of turnover of at least 40 % between 16 March 2020 and 15 September 2020, which was caused by the spreading of COVID-19. For the calculation a certain observation period can be selected;
- The enterprise must have taken reasonable measures to reduce fixed costs;
- The enterprise must not have been in financial difficulties on 31 December 2019, must not have opened insolvency proceedings or meet the requirement for insolvency proceedings.
Further information on the assessment basis is available on the website of the Federal Ministry of Finance Webseite des BMF. Applications on fixed cost subsidies can be filed via FinanzOnline from 20 May 2020 to 31 August 2021 at the latest.