Together with the BMF, we are responding to the effects of COVID 19 and are providing companies with additional loan funds amounting to 2 billion euros. Applications for this can be submitted via the exporter's respective bank.
2 billion euros in working capital loans
From now on, export companies can apply – in collaboration with their commercial bank – for a credit line of 10 percent (large companies) or 15 percent (small and medium-sized companies) of their export sales with OeKB. The maximum limit is 60 million euros per customer. This offer is independent of whether the respective company has already been a customer of OeKB and whether any previous credit line has been exhausted. As a reliable partner of the export industry, we take responsibility for securing jobs and Austria as a location.
In total, the credit line comprises two billion euros and is part of the government's four billion euro aid package for the domestic economy. The revolving loans are primarily intended to secure Austrias economy and continue the operation of exporters. The financing is initially limited to two years with the option of extending it afterwards. The costs are based on the control bank refinancing framework (KRR), with a guarantee of aval fee, which is slightly higher - in proportion with the risk.
Existing export activity as a prerequisite
In addition to existing export activity, the prerequisite for being able to use this variant of the working capital loan is proof that the company has been economically healthy until the start of the COVID 19 effects in Austria. The federal government is ready to assume liability for 50 to 70 percent of these loans, with settlement taking place using the existing structures.
Applications for this can be submitted via the exporter's respective bank. Please find more details on this in our FAQs on the COVID-19 aid.
Short-time working – a sensible option for securing liquidity
The German government has decided to take extensive measures to alleviate the consequences of the Corona crisis. On behalf of our client, the Federal Ministry of Finance, we would like to especially draw your attention to the possibility of the Corona short-term work model. It secures companies skilled workers and liquidity – regardless of industry and company size. As a result, Austrian jobs will be preserved even in this challenging time. Please, as an export company, take advantage of these support measures.
You can find information on short-time corona work on the websites of the Federal Government and those of the social partners (onyl in German):