Coronavirus: Federal Council adopts emergency ordinance on granting of credits with joint and several federal guarantees

26. März 2020 – During its extraordinary meeting on 25 March 2020, the Federal Council addressed the issue of liquidity assistance for SMEs, which should have rapid access to credit facilities to bridge liquidity shortfalls caused by the new coronavirus pandemic. Affected companies 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. To get the credit, the company must declare that it is suffering substantial reductions in turnover because of the COVID-19 pandemic. For further information, see: here.