Germany: The federal government increases the amount of Corona Aid to 200,000 euros
Due to the ongoing restrictions caused by the corona pandemic, the German federal government has announced the extended bridging aid III for the duration January 2021 to June 2021. Instead of the current maximum of 50,000 euros per month, reimbursement of operating costs up to a maximum of 200,000 euros per month is possible in the future. In addition, the November aid should also be paid out to companies that are not directly affected.
Federal Finance Minister Olaf Scholz and Federal Economics Minister Peter Altmaier have agreed to make further details and improvements in the November aid, as announced by the ministries. They have also agreed to extend and expand the previous bridging aid beyond the end of the year: This bridging aid III runs from January 2021 to June 2021. This also includes the so-called “restart aid for self-employed people”. This is intended to take into account the special situation of self-employed soloists, in particular artists and cultural workers.
Increased bridging aid III is coming
Bridging Aid III includes a special innovation: instead of the current maximum of 50,000 euros per month, up to a maximum of 200,000 euros per month can be reimbursed for operating costs. The aim is to support companies, self-employed people and freelancers who are particularly hard hit by the measures to combat pandemics. According to the ministry, these should be unbureaucratic and fast grants that do not have to be repaid. Bridging Aid II currently runs until December 31, 2020. Olaf Scholz and Peter Altmaier want it to be extended and expanded until the end of June 2021. Further details are to be announced as soon as possible. Here, too, there should be further improvements, such as the ability to deduct expenses for maintenance, modernization measures or costs for depreciation. The details of how to apply should be available in the coming weeks.
Bridging Aid III – this is new
Directly affected companies: it is made clear that hotels, accommodation providers and event venues are eligible to apply as companies that are directly affected. This ensures that pensions, youth hostels and concert halls, for example, also receive the November aid within the framework of the applicable provisions.
Indirectly affected companies: In addition to those directly affected, those indirectly affected are eligible to apply if they regularly generate 80 percent of their sales with companies directly affected by the closure measures.
In addition, companies that regularly generate 80 percent of their sales through deliveries and services on behalf of companies that are directly affected by the measures via third parties are also eligible to apply. This also helps companies that work indirectly for a company that is directly affected by the closure orders. This helps, for example, many companies and self-employed people from the culture and event industry, such as sound engineers, stage builders and lighting professionals. These companies and the self-employed have to prove beyond any doubt that they will suffer a drop in sales of more than 80 percent due to the closure regulations of October 28, 2020.
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