threatened The Corona pandemic threatens to destroy thousands of small and medium-sized companies, millions of jobs are everywhere in Germany. In order to prevent the collapse of our economic system, put together by the Federal government in the last days of billion-dollar aid packages for businesses.
traders, artisans and service providers need credits
One of the most important of Federal Minister Peter Altmaier (CDU) encouraged measures: The granting of loans to companies that are advised by the Corona-crisis in Need.
in fact, many traders, artisans and service providers are in great need of these loans. Even if the interest (pain, depending on credit rating and term to maturity of between one and more than seven percent) in some cases in the money helps you to bridge financial bottlenecks and to secure their existence, at least in the short term.
Minister Altmaier incensed over the attitude of some banks
But the well-intentioned initiatives of the government, powerful institutions threaten the blockade to fail. Some banks torpedo the state’s offers of assistance almost and small companies are pushing even further to the abyss.
economy Minister Altmaier showed on Sunday, “Anne Wants to spend” visibly angry on banks and savings banks, the state Corona loans only hesitantly or not at all, because they are afraid of the repayment. He was “dissatisfied” with the implementation of the emergency relief programme by the banks, said Altmaier.
entrepreneurs want to loan Corona, in order to secure company
FOCUS Online has researched a case that is likely to incite the displeasure of the Minister more. He plays in Bayern and relates to a businessman who asked not to be named.
in normal times, a successful business man suffers the Corona-crisis. Orders break away, fixed expected lack of revenue. On the other hand, he has to pay for running costs. to
not in time to file for bankruptcy, he turned for help to the HypoVereinsbank in Munich, a subsidiary of the Italian UniCredit group. There he is with his company for many years.
crisis assistance: state assumes the largest part of the failure risks
The man who runs a small service company, asked for a so-called “Corona loan”, it was a mid-five-figure amount. Refers specifically to the current crisis that are tailored loans. The special thing about them is that the state is responsible for the largest part of the risk of default.
Specifically, this means: Should not be able to pay back a business loan later, shall be liable to the state to 90 per cent, the Bank only to ten percent. The inherent risk of the banks, to get through the bursting of the credit repayments even in difficulties such as the recent banking crisis to happen drops.
Bank demanded from the owner of the company is 100% guarantee
In his credit request called the entrepreneurs on this, the Minister of economic Affairs Altmaier always advertised Corona-regulation – and bite on granite. Because the HypoVereinsbank asked for the desired loan as a security is a “100-percent guarantee of the shareholders”.
In English: the owner of The company should be liable for the Corona-credit in the full amount, and thus all default risks alone wear. This counteracts the idea of further bailouts.
The Bank customer is not hooked up and caution to believe his eyes for the sake of whether he had understood the passage in the E-Mail correctly. For him, it was clear that “The requirements of the Bank represent a 190-percent collateral against the loan. This violates the law.“
Senior associate: system applies to “all commercial customers”
in Writing the credit institution informed him: “Yes, this has been decided by our Bank, explicitly in relation to ‘Corona’ liquidity ‘ for all corporate customers.” The risk of the Bank will normally, due to the “existing collateral” – i.e. deposits covered by the customer. These are not in the business man, however, a sufficient amount is available.
Indirectly, the Bank criticized the entrepreneur for the fact that he wanted to be pounded on the 90-percent-liability of the state and not even the head stall. A shareholder that were so, the future of his company, obviously out of the question, it was said in almost dreistem sound. “Neither we as a Bank nor the government as a liability Adjuster is unreasonable under the circumstances, a Loan origination.”
entrepreneurs: Arrogant banks destroy many lives
Thus, the issue of Corona was done-credit. A serious blow for the company. The owner is disappointed with the behaviour of his Bank. To told FOCUS Online: “With their arrogance, the banks destroy thousands of livelihoods and their economies are of economic importance in these difficult times, not fair.”
With his opinion, the entrepreneur is not alone. The President of the German chamber of Commerce and industry tags, Eric Schweitzer, recently warned prior to a bankruptcy wave if applications are not granted funds by the banks. He feared that, in spite of the 90-percent guarantee by the state”, many companies due to the crisis, by the so-called customary Bank examination fall,” said the Swiss. He demanded that the state should increase its liability to 100 per cent.
expert warns of “mass extinction” medium-sized companies
expressed Similar to the chief of the Central composite Eckhard-Black stand. In his opinion Germany had to be based in Switzerland. Switzerland have a nickname, a direct and a 100 percent government-guaranteed Liability – associated with an immediate disbursement by the Bank of the medium-sized company on the spot.
Hold Germany to its previous credit practice, will be leading the “into Chaos,” said Black. In the case of “Anne Will” stated he, “If I stop the liquidity, it comes to a heart attack. And then it comes to the mass extinction of small and medium-sized enterprises.“
Sparkasse President: Problematic assignment guidelines
Also in another point the government needs to improve may be. In the “Handelsblatt” said Sberbank President Helmut Schleweis on a weak point in the procurement guidelines.
the state development Bank KfW would be the loan program, only those companies that can pay back the loan within five years. Schleweis: “many companies in industries that suffer from the Corona-crisis is particularly strong, this is not currently the case.”
More of the Coronavirus outbreak in the News-Ticker of FOCUS Online
proposal: number-period to ten years to expand
The Bavarian entrepreneur, the abblitzte in the case of the HypoVereinsbank and his loan request, looks the same. “How do you prove to the Bank in these uncertain times, the company enters into five-years profit and the credit easily can repay you?” His proposal: “The period should be extended to ten years. Then it’s not likely to be the Situation for many of us greatly improved.“
HypoVereinsbank: loan approval depends on the case ab
The HypoVereinsbank in Munich was very reluctant to the allegations. Specific issues of FOCUS Online for the award of practice in Corona loans, the Institute left unanswered. A spokesman said only: “What collateral or guarantees are required, depends on the individual case.”
At the same time, he stressed, the HypoVereinsbank stand by their customers “of course, in this exceptional Situation to the side”.
In the FOCUS Online/Wochit In the
