Corona

Hamburg launches microloans for self-employed and small businesses

22 April 2021
"Hamburg-Kredit Mikro" to bridge bottlenecks - up to EUR 40,000 available

Up to EUR 40,000 in microloans are now available as part of the "Hamburg-Kredit Mikro" for the self-employed and small businesses. The scheme also lends support to startups, business takeovers, investment projects, working capital and to pre-finance specific orders. Applications can be submitted to the Hamburg Investment and Development Bank (IFB Hamburg), a press release said Thursday (April 15, 2021). More than 100,000 applicants have received around EUR 1.3 billion in supportive funding since the launch of the Corona Protective Shield in March 2020, the senate said.

Support in start-up phase

Michael Westhagemann, Senator for Economics, remarked: "It is important to me that we also take this target group with us. Small companies and solo self-employed people, who are beginning their business or are in the start-up process, find it difficult to get financing especially in the pandemic." Andreas Dressel, Senator for Finance, stressed the importance of microloans as bridging aid, and noted: "This is good news for many self-employed people and small business entrepreneurs, who have to bridge liquidity bottlenecks in this difficult situation."

Up to EUR 40,000 available 

Maximum loans of up to EUR 40,000 are reserved for small companies in their fifth year of business year and onwards. Firms that have been in existence for less than five years can obtain between EUR 5,000 and 25,000 in funding. The senate is making corona-related grants, loans and lending schemes available to commerce in Hamburg via the IFB.

tn/sb/pb

Sources and further information

IFB Hamburg

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 funding offers in the city and those of the German government and the European Union. More information can be found on: www.ifbhh.de

Similar articles

Employers in Hamburg may issue certificates of coronavirus test

Certificates for rapid coronavirus tests subject to conditions

Nearly EUR 8 million in funds for infection research at UKE

Funding to support research-based specialists

Hamburg to subsidise e-taxis

Overarching "Future Taxi" project will see taxis become electric and more inclusive

Hamburg expands coronavirus aid for SMEs and startups

Funding for SMEs now EUR 1.8 million up from EUR 800,000 - balance of pandemic a year on
The Consent Management Platform (https://app.usercentrics.eu/) we use could not be loaded. This can happen if AdBlockers incorrectly block this URL. Some features such as maps, proximity search or forms, cannot be used this way. To use these features, please deactivate your AdBlocker or allow access to *.usercentrics.eu.