Together with the Federal Ministry of Finance, Österreichische Kontrollbank is reacting to the Covid 19 effects by providing companies with additional credit funds in the amount of EUR 2 billion.
In total, the credit line comprises two billion euros. The revolving loans are primarily intended to secure the exporters' locations and continue their operations. The financing is initially limited to two years with the possibility of extending it thereafter. The costs are based on the Kontrollbank refinancing framework (KRR), with a slightly increased bill guarantee fee in line with the risk.
The prerequisite for being able to use this variant of the working capital loan is, in addition to an existing export activity, proof that the company was economically sound until the start of the Covid 19 effects in Austria. The federal government is prepared to assume liability for 50 to 70 percent of these loans, with settlement taking place using existing structures.