Tens of thousands of applications: KfW says companies 33.5 billion Corona-credit help

In the framework of the special loan programme of the national development Bank KfW have entered into in the first 100 days of the approximately 70,000 applications for credit.

23. March until the end of June had been says the company 33.5 billion euros and, therefore, 99 percent of the applications to be finalized, such as the Ministry of economy, Ministry of Finance and KfW are jointly declared. 98.5 percent of the requests had therefore a maximum volume of three million euros. These would be reviewed by the intermediary banks and the KfW without further risk audit says.

“Aid is arriving, and exactly where they are needed, namely, in particular, in the case of small and medium-sized enterprises,” said Federal Minister Peter Altmaier (CDU), according to the memo. The smaller loan applications were reported to 19.5 billion euros.

26 billion euros were spent on applicants with a credit volume of more than ten million euros. Overall, loan applications to approximately 50 billion Euro in the first 100 days received. Only applications with a large volume are still in the test, it said. Instead of the intermediary banks, the KfW will be solely with a Federal government guarantee 80 to 100 percent of the credit risk.

The German Finance Minister, Olaf Scholz, spoke of a “success story”: “Many companies have adopted this financial aid is grateful to get through the difficult time,” said the SPD politician.