In the further specialization of the new measures, announced by Prime Minister Kyriakos Mitsotakis, proceeded the Minister of Finance, Christos Staikouras, according to which the government will continue to support households and businesses with total amount measures 36,5 billion. euros for two years 2020-2021.
More specifically, YPOIK announced the following:
1ον. Improving the terms of the Refundable Advance Payment 1, 2 and 3.
- It becomes a non-refundable part of it aid given against them 3 its first cycles Refundable Deposit, based on criteria for turnover losses suffered by companies within it 2020.
- The exemption reaches up to 50%, while necessary condition is the retention of jobs provided in each cycle.
- The cost of the measure is estimated at approx 570 million. euro.
2ον. Start of a new Repayable Advance cycle 7.
- Get started, in the month of April, the Refundable Advance payment 7, which will be given based on the drop in business turnover in the 1st quarter of the year.
- The percentage of the exemption is set at 50%, provided the number of employees is maintained until the end of August.
- Increased aid is foreseen at retail, the focus, tourism, and more generally to companies to which restrictive measures have been imposed, with raised thresholds.
- New businesses in the immediate affected sectors, which started operations after December 2019, will be eligible regardless of turnover, if they did not receive aid from 2 latest refundable advances.
- The cost of the measure is estimated at approx 1 billion. euro.
3ον. Extension of the repayment periods of the Refundable Advances.
- Extended, for all cycles, the repayment period from 40 in 60 doses, while the possibility of a one-time refund is given, with discount 15% on the repayable amount.
4ον. Establishment of a new business support scheme in the form of a grant on fixed costs.
- A new tool to support them is being launched operational and job protection. This is a subsidy percentage fixed business costs, held within 2020, and have not been covered by the aid granted to date.
- Fixed costs include benefits in employees, insurance contributions, the energy, the water supply, telecommunications, the rents, other operating expenses, debt interest and related expenses.
- The amount of aid is determined as a percentage of the difference between the fixed costs paid by the company, and the aid it has received.
- The purpose of the program is to subsidize companies that employ at least 1 employee, through credit that can be used to repay tax and insurance obligations.
- The cost of the measure is estimated, at first, in 500 million. euro.
5ον. Establishment of a new "GEFYRA" business loan subsidy program.
A new business loan subsidy program is underway. The new program "BRIDGE»Concerns medium, small, very small and sole proprietorships, including freelance entrepreneurs, who have been proven to be affected by the pandemic, and meet specific economic and property criteria. It is aimed at both companies that have serviced debts, as well as companies that can not meet their loan obligations.
Its main features program is:
- Monthly installment of business loans for 8 months.
- Subsidy of both the capital and the interest of the loan.
- Reward consistent borrowers, with high subsidy rates.
- Criteria that allow tens of thousands of companies to join the program, without restriction as to the debt ceiling for them.
Specifically, for the beneficiaries, the contribution of the State amounts to the following percentages:
For serviced loans: In the 90% of the monthly installment for the 1st quarter, in the 80% for the 2nd quarter and at 70% for the rest 2 months.
For non-performing loans:
- In the 80% of the monthly installment for the 1st quarter, in the 70% for the 2nd quarter and at 60% for the rest 2 months.
- The cost of the measure is estimated at 300 million. euro.
6ον. Extension of suspensions of regulated tax liabilities.
- By analogy with what happened in the previous two months, the March installment of regulated tax liabilities of companies to which restrictive measures have been imposed and are directly affected, transferred at the end of the adjustment period.
- The cost of the measure is estimated at 60 million. euro.
- While the measure of covering all the rent in specific sectors of the economy for the month of March is also valid, estimated costs 70 million. euro.