The exceptional financial assistance for the month of November offers broad central support for companies, businesses, the self-employed, associations and institutions that are particularly hard hit by the latest COVID-19 restrictions. The details have now been unveiled by Federal Finance Minister Olaf Scholz and Federal Economic Affairs Minister Peter Altmaier.
The German government is thus supporting businesses and self-employed individuals who are directly and indirectly affected:
Businesses directly affected include businesses, self-employed individuals, associations and institutions which have been required to suspend their business operations as a result of the decision taken by the federal and state governments on 28 October 2020. Hotels are deemed to be directly affected businesses. Indirectly affected businesses include all those that can provide evidence that they regularly generate 80 per cent of their turnover from their business with companies that are directly affected by closures.
The interim financial assistance is to be extended and significantly improved for the worst affected branches. KfW rapid loans are to be made available to companies with fewer than 10 employees. The rules apply to businesses, the self-employed and own-account workers – especially but not exclusively those working in the cultural and events sector.
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