Via the BMKB scheme the Ministry of Economic Affairs and Climate Policy is guaranteeing loans to entrepreneurs to make it easier for them to borrow funds. Entrepreneurs can contact lenders, usually their own bank, to access these loans.
Under the regular scheme the government-guaranteed loan represents 50% of the loan granted by the bank, for a period of one year. The government underwrites 90% of this guaranteed loan. The maximum amount of the BMKB loan has been increased temporarily from € 1 million to € 1.5 million.
As a result of the coronavirus crisis the level of the government-guaranteed loan under the BMKB scheme has been raised from 50% to 75% for companies requiring credit of up to € 266,667.
The expansion of the BMKB scheme will apply until 30 June 2022.
This will allow banks to extend credit more easily and more quickly, reduce the risk to which they are exposed and give companies the option of borrowing more funds at an earlier stage. The scheme will also be applicable to bridging loans and overdraft facilities with a term of up to two years.
You do not have to submit a separate application for the BMKB scheme. This is arranged via your bank.