From now on, companies particularly affected by Corona can apply for funding within the framework of the Bridging Aid III apply for an equity grant of up to 40 percent of eligible fixed costs. This is subject to a drop in sales of at least 50 percent in at least three months between November 2020 and June 2021. The grant is awarded in addition to regular funding. Companies that have already submitted their initial application for Bridging Aid III can apply for the new equity grant with an amendment application.
“Opening of bridging aid for startups”
Bavaria's Minister of Economic Affairs Hubert Aiwanger says:
"The recent improvements represent a major step forward in providing as many businesses as possible with the highest possible level of financial support. I very much welcome the fact that the federal government has further developed the program and has also incorporated some important Bavarian demands. These include, in particular, opening up the bridging aid to startups founded by October 31, 2020, and the possibility of using alternative comparable sales in certain cases."
If revenue drops by more than 70 percent, fixed costs can even be fully reimbursed. Companies in the event and travel industries can receive start-up aid amounting to 20 percent of their payroll, up to a maximum of €2 million.
To date, Bavarian companies have received over 680 million euros in the context of the Bridging Aid III, and around 70 percent of all applications have already been approved by the Chamber of Industry and Commerce for Munich and Upper Bavaria. All information about the bridging aid is available online at Website of the Bavarian Ministry of Economic Affairs.
