IFB Hamburg begins paying December aid
The Hamburgische Investitions- und Förderbank (IFB Hamburg) has begun issuing December aid for companies impacted by the coronavirus crisis. More than 8,500 applicants in Hamburg have applied for funds from the EUR 150 million available. The German government has issued around EUR 55 million in advance payments so far, but IT issues had delayed issuing the December aid. Applications for November and December aid can be submitted on the nationwide bridging aid IT platform until April 30, 2021.
Two-thirds of applications for November aid approved and paid out
"IFB Hamburg's employees were ready to start and had been waiting for the green light from the federal government," said Michael Westhagemann, Hamburg's Senator for Economics. The urgently-needed amounts have been transferred and the companies in the respective industries can breathe a sigh of relief. I am glad that we have been able to turn that around as it is an important building block for securing Hamburg's economic diversity and viability in future." Ralf Sommer, CEO of Hamburgische Investitions- und Förderbank, said: "Two-thirds of the applications for November assistance were approved and paid out in the last fortnight. We now aim to scale up the processing of applications for December aid."
Grant of up to 75 per cent of expected revenue
The payments in November and December help businesses, farms, self-employed individuals, associations and institutions hit by temporary corona-induced lockdowns. The grants are based on revenue in the months of November and December 2019 and come to 75 per cent respectively. They are available on a per-day basis.
The Hamburgische Investitions- und Förderbank (IFB Hamburg) supports housing and economic development as well as environmental protection and innovation projects. IFB Hamburg is the main point of contact for private individuals, companies and institutions in Hamburg and advises about all of Hamburg's funding offers and those of the German government and the European Union. More information can be found on: www.ifbhh.de