On November 5th, 2020, a series of support measures in the follow-up to the Covid-19 pandemic was approved by the Council of Ministers, aimed at companies:
- Subsidies for micro and small companies, whose activity belongs to sectors affected by the exceptional measures COVID-19, in the total amount of 750 million euros non-repayable;
- Direct support to companies in certain sectors in the form of credit lines guaranteed by the State, with the hypothesis of partial conversion to non-repayable funds in order to maintain jobs. For these companies, the total amount of support corresponds to 800 million euros, covering 160 million euros in non-refundable form.
Support for lost funds created with the aim of supporting micro and small companies with revenue breakdowns that operate in the sectors affected by exceptional pandemic contingency measures, such as:
– Cultural activities
– Trade and services open to consumers whose closure was enacted in March 2020
– Breakdown of turnover greater than 25% in the first nine months of 2020;
– Positive equity capital as of 12/31/2019;
– Financial situation regularized with the Tax Authority, Social Security, Banking and Mutual Guarantee Society;
– The company’s activity belongs to the sectors most affected by the pandemic contingency measures.
Amount to be allocated
The amount of support to be attributed to each company will be in accordance with a percentage of the break in revenue in the first nine months of 2020, limited to:
– Microenterprises = Up to 7,500 euros
– Small Business = 40,000 euros
Credit Line for Event Support Companies
Support available to companies that provide support services for cultural, festive, sporting or corporate events, in the total amount of 50 million euros.
It will be possible for the entities to convert 20% of the credit attributed to a non-repayable subsidy, if the companies keep their jobs.
Export Industry Credit Line
This credit line will be available to industrial companies with a high turnover from exports of goods, with the amount of support in the global amount of 750 million euros.
The amount of credit to be allocated will depend on the number of jobs, with the possibility of converting 20% into non-repayable subsidies, should the jobs be maintained.