COVID-19 INFOS FOR STARTUPS
We are gathering and sharing information to help fintech companies and especially startups during the current COVID-19 crisis. The information below is a work-in-progress and will be constantly updated.
SUPPORT MEASURES FOR STARTUPS – OVERVIEW
Due to the economic consequences of the coronavirus, the Federal Council is making liquidity assistance available to start-ups in Switzerland to supplement the Covid 19 loans.
PROTECTION CONCEPTS FOR BUSINESS
Companies need to develop and follow a protection concept to insure the safety of their employees and customers and to prevent infection.
Template Protection Concept in German language: Musterschutzkonzept (DE)
Other languages: https://backtowork.easygov.swiss/
INNOVATIVE STARTUPS TO RECEIVE ADDITIONAL FEDERAL SUPPORT
It is planned to create a new procedure for start-ups under the existing system of guarantees by 30 April 2020. The Confederation will guarantee 65% of a credit, and the cantons the remaining 35%. It is for individual cantons to decide whether they wish to offer this guarantee facility, originally intended for SMEs, to their start-ups. Some cantons have already committed considerable resources to other kinds of support for start-ups.
BRIDGE LOANS FOR SME & STARTUPS
Companies affected by the current situation caused by the COVID-19 pandemic can apply to their banks for bridging credit facilities representing a maximum of 10% of their annual turnover and no more than CHF 20 million. Certain minimum criteria must be met. In particular, the company must declare that it is suffering substantial reductions in turnover because of the COVID-19 pandemic.
UBS SUPPORTS SWISS SME DURING COVID-19
UBS welcomes the immediate measures announced by the Federal Council to support Swiss SMEs in association with other Swiss banks. In addition, UBS provides liquidity of several billion for its clients with an intact business model. Press Release (GER)
More info: www.ubs.com/kmu-corona
MEASURES OF THE FEDERAL GOVERNMENT
Package of measures to minimize economic consequences, 20 MAR 20
LINK LIST FOR STARTUPS
Swiss Finance Startups has put together a link list with valuable info for startups.
The list is work-in-progress and will continuously be updated.
If you have information that you would like us to add, please send us an e-mail and we’ll be happy to enhance the list.
Open LINK LIST