Until July 31, 2020, all companies can apply to their bank for a credit equivalent to 10% of annual sales at a rate of 0% if they can demonstrate that they have lost sales due to COVID-19.
An ordinance was published in Berne on 25.03.2020 on this subject, along with an analysis of it.
Here’s how to apply for your COVID-19 credit:
- Go to the Department of Economics website link
- Download the agreement available via the link below, fill in all the required fields and print the PDF.
- Sign the agreement
- Scan the agreement and send it by e-mail or post to the bank
- The bank checks the agreement. If the agreement is complete, the bank pays you the money directly.
Transitional loans in excess of CHF 500,000 are 85% guaranteed by the Swiss Confederation. The bank granting the loan has a 15% share in the loan. Since these credits can amount to up to CHF 20 million per company, they must be carefully examined by the bank beforehand. The interest rate applicable to these credits is currently 0.5% for the amount guaranteed by the Confederation.
Important note: you must first submit a COVID-19 credit agreement (see above) before you can apply for a COVID-19 Plus credit of over CHF 500,000.
You can also find all the information you need on the website of the Department of Economics, Training and Research.
Please consult our COVID-19 newsletters on workers’ and employers’ rights, and on short-time working in case of need.
The Argos group team remains at your disposal for any further information.
