KfW Quick Loan 2020 delayed – but you can already make preparations
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KfW Quick Loan 2020 delayed – but you can already make preparations

The new KfW programme is designed to guarantee that KfW assumes one hundred percent of the liability risk. Apparently, there are difficulties now: The announced KfW Quick Loan 2020 is delayed. Nevertheless, you should be prepared. We analyse the situation.

We had already reported that the Federal Government had agreed to the KfW Quick Loan 2020 with a 100 percent guarantee.

Now, however, there are difficulties in the implementation: The KfW Quick Loan 2020 is delayed because there is no approval at European level.

European Commission must approve KfW fast loan

This approval by the European Commission is still missing. Various media report on a delay caused by the Commission being overloaded.

However, there are still details to be clarified in other areas.

Coordination of the federal states is still pending

Above all, the federal states still have to agree on the application procedures and, in addition, agree on how unbureaucratic the process of application and approval should be.

In addition, the creditworthiness requirements for applicants have yet to be defined.

When can we expect the KfW Quick Loan 2020 to be published?

This cannot be clearly stated at this stage. However, the past few weeks have shown that political institutions are striving for speed of action.

In any case, it would be important for companies to implement it quickly. Moreover, from a practical point of view, a solution that is as unbureaucratic as possible would be desirable.

Our recommendation

You should be prepared before it actually starts. This way you can benefit from the new opportunities as quickly as possible and quickly submit an appropriate application, which is then approved quickly.

We recommend that you use plausible liquidity planning to identify and document the coverage gap.

You should also compile current figures from your accounting department. This includes the annual financial statements for 2018 as well as the annual financial statements for 2019.

If you have not yet completed the financial statements for 2019, however, make sure that you prepare a meaningful business assessment (BWA) for December 2019 and February/March 2020. By the end of 2019, you should already have reconciled receivables, liabilities, provisions and inventories accordingly.

We will be happy to support you in compiling relevant documents!

If you need help in preparing liquidity plans, we can also help you with this.

We also refer to the new funding opportunities, which we have already described in a previous blog article.

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