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154 million for start-ups – What you need to know about the federal guarantees

On April 22, 2020, the Swiss Confederation pledged CHF 154 million in financial support for start-ups. The new measure is a response to the call for help from start-ups and builds on the existing guarantee system. But what exactly are guarantees and how does the path to a loan work? We answer your questions.

Guarantees for start-ups

Innovative start-ups are key drivers of the Swiss economy. It is therefore even more important that they are supported in the ongoing corona crisis. Up to now, start-ups haven’t been able to benefit from the federal government’s aid packages because the emergency loans were tied to turnover or wage totals. Especially for young start-ups, both numbers can be quite small. As a result, loans for start-ups were not approved at all or were very low. If at the same time private investors withdraw their support, bankruptcy is imminent. This is about to change! On April 22, 2020, the federal government responded to the call for help from start-ups and issued a new support concept.

Cantons can decide for themselves

The new package of measures for start-ups builds on the existing guarantee system and is designed to provide rapid support. By April 30, 2020, the Confederation will create a corresponding procedure, with the Confederation itself guaranteeing 65 percent of the loan and the cantons 35 percent. In total, up to CHF 154 million will be made available, CHF 100 million of which will come from federal funds. Whether the cantons will participate is still unclear, however, and is left to each canton to decide for itself. This is because many cantons have already adopted comprehensive packages of measures to support start-ups. Which cantons will participate in the federal government’s plan will be revealed at the end of the month.

How to get the loan

Start-ups wishing to take advantage of the aid must submit a guarantee application to the cantonal authority responsible by August 31, 2020. The latter may seek advice from a committee of the Swiss Agency for Innovation Promotion (Innosuisse) to assess the application. If Innosuisse supports the request, it will be forwarded to a guarantee organisation recognised by the Confederation, which will issue a confirmation of the guarantee. With the latter, a start-up can apply for an emergency loan from any bank.

What exactly is a guarantee (Conrtract of Surety)?

A guarantee is a contract that serves to ensure the fulfilment of an obligation, such as the repayment of a loan. A distinction is made between various forms of guarantees, which are regulated in Art. 492 – 512 of the Swiss Code of Obligations. The normal case is the so-called simple guarantee. In the case of a simple guarantee, the guarantor promises to take over a claim if the debtor is not in a position to pay it himself. The guarantor is only obliged to pay if several promissory notes have already been issued against the principal debtor, if the debtor has fallen into bankruptcy, has received the debt-restructuring moratorium or has moved his residence abroad. In addition, the guarantor may demand in advance that any existing liens be realised.

We are available for advice and support under the e-mail help@startups.ch.

Haben Sie eine innovative Geschäftsidee, die Sie gerne umsetzen möchten? Die Experten von STARTUPS.CH stehen Ihnen gerne zur Verfügung und begleiten Sie in berufliche Selbständigkeit.

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