Table 14 Loan guarantee programmes internationally (cont.)
From: Firms’ participation in the Swiss COVID-19 loan programme
Jurisdiction | Beneficiary | Guarantee/ maximum loan size | Closing date | Interest rate | Loan maturity | Usage (CHF bn) | Usage (% of GDP) |
|---|---|---|---|---|---|---|---|
Germany (Bundesregelung Kleinbeihilfen 2020) | SME | 100% for loans up to: EUR 500’000 for firms with 50 employees; EUR 800’000 for others | 31 Dec 2020 | Individual loan rate determined by bank | N/A | 5.0 (after 100 days) | 0.1% |
Germany (Kreditanstalt für Wiederaufbau, KfW) | All firms | 90% for SME, 80% for others; EUR 1bn per company | 31 Dec 2020 | Subsidised loan rate (lower for SME) | Up to 5 years | 58.1 | 1.5% |
Hong Kong SAR (Special Financing Guarantee Scheme, SFGS) | SME | 100%; up to total amount of employee wages and rents for six months or HKD 4m | Avaiable for 12 months | Optional principal moratorium for 1 year; rate is Prime Rate minus 2.5%; no guarantee fees | Up to 3 years | 10.9 | 3.2% |
Italy (Fondo di Garanzia PMI) | SME | 80–90%: loans up to EUR 1.5m; 100%: loans up to EUR 800’000 | 17 Dec 2020 | Guarantee cost waived; loan rates set by lenders | N/A | 87.9 | 4.6% |
Italy (Cassa Depositi e Prestiti) | All firms (SME must first apply for SME plan) | 70–90%; maximum of 25% of 2019 revenues or twice payroll costs | 31 Dec 2020 | Individual loan rate determined by bank | 6 years | N/A | N/A |