OeKB processes guarantees for bridge financing

OeKB is supporting companies with liquidity difficulties caused by the corona crisis with another measure. As of now, OeKB is taking over the processing of financing guarantees for large companies as part of the government's 15 billion euro Corona Aid Fund and on behalf of the COVID-19 Federal Finance Agency (COFAG).

This new option from the Corona Aid Fund is available to all Austrian large companies, regardless of whether they are exporting or have already been OeKB's customer. According to the EU definition, large companies are companies with more than 250 employees or annual sales of more than 50 million euros and total assets of over 43 million euros.

Loan amount up to 25% of annual turnover

The loan amount is based on the actual liquidity requirement and is capped at twice the annual wages of the company or 25 percent of the annual turnover. The higher amount is used for the assessment. 

The state liability that OeKB handles on behalf of COFAG amounts to 90 percent of the requested financing amount. 

Application via principal bank

Companies can contact their bank directly for the application. As of now, applications can be submitted by the bank via OeKB's online tool "Export Guarantees Online".