The Swiss government presented a state guarantee program on Monday that is specifically directed at start-ups. According to a press release, loan guarantee applications can be submitted from May 7 until August 31, 2020.
The loan guarantees will be provided by both the Swiss federal government (65 percent) and by the canton or third parties appointed by the canton (35 percent). In total, the federal government and canton (or third party) will jointly guarantee an amount up to a maximum of 1 million Swiss francs in full. The total amount guaranteed may not exceed one third of the 2019 running costs incurred by the respective start-up.
Eligible start-ups are those headquartered in a canton participating in the guarantee scheme. The list of participating cantons is being updated on a continuous basis and is available to view on a federal government webpage. In addition, only start-ups founded in 2010 or later are eligible for support from this scheme. Enterprises in the area of agriculture do not qualify for liquidity support.
The Swiss federal government has already resolved several measures to support businesses since the onset of the coronavirus crisis. Some start-ups may have already benefitted from these. For example, one such would be the Zurich-based start-up Algrano, which operates an online marketplace for coffee. It has been able to secure assistance loans for the pre-financing of coffee deliveries.
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