Liquidity Relief for Startups in Switzerland
IN BRIEF: Federal government together with the interested canton agree to 100% guarantee the loan amount up to CHF 1 million for promising startups who meet the criteria set by The State Secretariat for Economic Affairs (SECO). Loan guarantee applications can be submitted from 7th May until 31st August 2020.
The government will guarantee 65% of the loan and 35% will be guaranteed by the canton or third parties chosen by the canton. The amount guaranteed can be up to CHF 1 million, but may not exceed one third of startup’s running costs in 2019.
Startups who are eligible for applying for the loan guarantee are:
Companies founded after 1stJanuary 2010, but before 1stMarch 2020 and located in the participating canton.
Limited liability companies (GmbH) or companies limited by shares (AG) in Switzerland
Companies that are not part of the agricultural sector
Companies that are not currently in bankruptcy or liquidation
Companies that are facing liquidity problem due to COVID-19
The application needs to be submitted to the canton, in which the head office of the startup is located. So far, canton Waadt, Neuenburg and Freiburg are participating. More information about other participating cantons will be gradually released by the government.
If your Swiss company fulfills the above requirements and you are considering applying for such a loan, F Trust can help you to complete the application procedure.
We are specialists in the incorporation and administration of Swiss companies. If you need our assistance or have any questions, please get in touch at admin@ftrust.ch