Loan assistance for companies in North Rhine-Westphalia (NRW) - BÜRGSCHAFTSBANK NRW/FEDERAL-STATE GUARANTEES IN NRW/NRW.BANK - PKF Fasselt Schlage
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PKF FASSELT SCHLAGE
Loan assistance for companies in
North Rhine-Westphalia (NRW)
BÜRGSCHAFTSBANK NRW/FEDERAL-STATE GUARANTEES IN
NRW/NRW.BANK
www.pkf-fasselt.de
Foreword
» The federal-state government of North Rhine-Westphalia has launched and/or expanded
its current assistance programmes in order to counteract the negative impact of the
coronavirus on companies in Lower Saxony.
» The following explanations describe the funding programmes and loan assistance
measures adopted by the federal state of North Rhine-Westphalia in order to bridge
liquidity bottlenecks as well as to provide recommendations for action for companies and
self-employed professionals.
» We expressly point out that the programmes and services presented on the following
pages do not constitute a conclusive list of all measures. Due to the dynamic pace of the
corona crisis, it is conceivable that the federal-state government will adjust its assistance
programmes or the relevant preconditions at short notice. We would hence advise you to
make sure that you always have the most up-to-date information regarding the relevant
assistance programmes.
» Please also note that the special assistance measures generally require that the
applicant’s financing difficulties exclusively result from the corona crisis (and have not
arisen before) and that these difficulties are also of a temporary nature according to the
applicant’s plans.
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 2
Contents
1 BÜRGSCHAFTSBANK NRW 5
2 FEDEFRAL-STATE GUARANTEES IN NRW 9
3 NRW.BANK 15
4 CONTACT 18
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 3Bürgschaftsbank NRW 1
Bürgschaftsbank NRW
Assistance options for entrepreneurs
» Assistance is available to existing small and medium-sized enterprises and start-ups in the
commercial sector (EU definition of SMEs), including horticultural businesses and
members of the liberal professions.
» No assistance will be available to companies that were already in economic difficulty
before 31 December 2019.
» The different assistance options are presented below.
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 5Bürgschaftsbank NRW
» Classical guarantee
Variant A
• Maximum guarantee amount: EUR 2.5 million
• Guarantee rate: 90%
• Maximum loan amount to be guaranteed: EUR 2.777 million
• Guaranteed credit term of up to six years with a maximum of one repayment-free year
» Classical guarantee:
Variant B
• Maximum guarantee amount: EUR 2.5 million
• Guarantee rate: up to 80%
• Maximum loan amount to be guaranteed: EUR 5 million (with 50% guarantee rate)
• Guaranteed credit term (working capital) of up to ten years with a maximum of two
repayment-free years
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 6Bürgschaftsbank NRW
» Express guarantee
Variant A:
• Maximum guarantee amount: EUR 250,000
• Guarantee rate: 90%
• Loan amount to be guaranteed: EUR 277,700
• Guaranteed loan term of up to six years with a maximum of one repayment-free year
Variant B:
• Maximum guarantee amount: EUR 200,000
• Guarantee rate: up to 80%
• Loan amount to be guaranteed: EUR 250,000
(with 80% guarantee rate)
• Guaranteed credit term (working capital) of up to ten years with a maximum of two
repayment-free years
» Express guarantees will be processed within 72 hours
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 7Guarantee Bank NRW
» Quick guarantee100
• Maximum guarantee amount: EUR 250,000 (per group of affiliated customers)
• Guarantee rate: 100 %
• Credit amount to be guaranteed: EUR 250,000 (per group of affiliated customers)
• Guaranteed credit duration for working capital up to ten years with a maximum of two grace
years
• Guaranteed credit duration for current account lines up to eight years with a maximum of four
grace years
» Decision within 72 hours
» Immediate guarantee
• Maximum guarantee amount: EUR 90,000
• Guarantee rate: 90 %
• Credit amount to be guaranteed: EUR 100,000
• Guaranteed credit duration up to six years with a maximum of one grace year
» Decision within 24 hours
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 8Bürgschaftsbank NRW
Recommendations for action by Bürgschaftsbank NRW for companies
1. Determination of liquidity requirements, if necessary, with the support of
consultants
2. Prepare fact sheets for banks, in particular:
» 2018 annual financial statements
» Provisional annual financial statements for 2019, alternatively 2019 business assessment,
including trial balance
» Brief description of the situation, explanation of measures already initiated
» Preliminary 2020 liquidity planning
» profitability plans for 2020 and 2021
» The extent of the necessary documentation depends on the respective loan and guarantee
programmes.
3. Attend advisory meeting, depending on the initial situation:
» Directly with the applicant’s house bank (business customer advisor)
» In advance with assistance/financing advisors of the chambers
» With assistance/financing experts at Bürgschaftsbank NRW
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 9Bürgschaftsbank NRW Recommendations for action by Bürgschaftsbank NRW for companies 4. Apply for funding: » With the applicant’s house bank, if necessary, secured by a guarantee bank 5. Preliminary examination of the need for financing » Request via the financing portal of the guarantee banks » https://finanzierungsportal.ermoeglicher.de 6. Important contact information: » Bürgschaftsbank NRW: Phone: ++49 2131 5107 – 200 » https://www.bb-nrw.de/de/index.html » Chambers of Industry and Commerce: contact regional chamber » Chambers of Crafts: contact regional chamber PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 10
Federal-state guarantees in 2 NRW
Federal-state guarantees in NRW
What are the advantages of federal-state guarantees for lenders?
» Guarantees by the federal state of North Rhine-Westphalia provide first-class loan
collateral.
» Federal-state guarantees facilitate financing of companies in all industries and sectors.
» The guarantee covers up to 90% of the loan’s default risk, generally up to a credit volume
of EUR 50 million.
» Guarantees cover loan financing, such as working capital and investment loans, but also
revolving cash and guaranteed loans.
Who can apply for guarantees?
» Commercial enterprises in all sectors (excluding enterprises owned by local authorities),
freelancers, agricultural and people with income from agriculture and forestry and start-ups
together with credit institutions based in the EU.
» Applications for guarantee volumes of up to EUR 3.125 million (corresponding to a loan
volume of EUR 1,562,500.00 at the usual guarantee rate of 80%) must be generally
submitted to Bürgschaftsbank Nordrhein-Westfalen GmbH .
» If the guarantee volume exceeds EUR 3.125 million, applications must be submitted to
PricewaterhouseCoopers GmbH WPG, Düsseldorf .
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 12Federal-state guarantees in NRW
Up to what amount and to what extent are guarantees issued?
» The federal state of North Rhine-Westphalia usually provides guarantees for loans with a
guarantee volume of EUR 3.125 million or more and for loans which cannot be guaranteed
by Bürgschaftsbank Nordrhein-Westfalen GmbH for other reasons.
» The amount of the guarantee amounts to a maximum of 90 % of the loss, but is
determined by the Ministry of Finance of North Rhine-Westphalia on a case-by-case basis.
» The term of the guarantee is generally up to ten years for working capital loans, up to
15 years for investment loans and in some cases even longer for real-estate financing.
Repayment grace years are possible.
» State guarantees under the ‘Corona’ crisis programme can be granted for a maximum
period of six years.
Which requirements must be met for the application?
» The company must have a sustainable business model and must not have been a 'firm in
difficulty' within the meaning of the EU guidelines on State aid for enterprises in difficulty
on 31 December 2019.
» Proof is provided by means of a questionnaire entitled 'Companies in difficulty'.
» If the company encountered difficulties after 31 December 2019, these must be due to the
Corona crisis.
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 13Federal-state guarantees in NRW
What does a guarantee cost?
» The costs of a federal-state guarantee are made up of the one-off application fee and the
ongoing guarantee fee, each of which must be borne by the borrower.
» The one-off application fee amounts to 0.5% of the guarantee amount, not exceeding a
maximum of EUR 25 thousand.
» The ongoing guarantee fee totals at least 0.5% of the remaining guarantee amount. The
guarantee fee is calculated on the basis of the 1-year default probability as specified by
the lender as well as the repayment profile and collateral. The final calculation of the
ongoing guarantee fee is usually carried out using the assistance value of the guarantee at
the time the guarantee is approved, usually using the assistance value calculator.
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 14Federal-state guarantees in NRW
Which documents must be submitted?
» Medium-term planning as well as corona and recovery reflecting short-term planning
(earnings and financial planning) including scenario observations, each with
comprehensive qualitative and quantitative comprehensible explanation.
» Last existing planning for the ‘normal course’ without corona crisis (if available).
» Information on working capital: payment terms used, advance payments received and
factoring possibilities and utilization.
» Presentation of the current financing conditions (loans, credit lines, etc.) including
presentation of the collateralisation ratios. Information on sustainable availability and
possible follow-up financing risks.
» Annual financial statements for the years 2016 to 2019 (possibly preliminary) together with
audit reports (if available) and information on the current economic development of the
ongoing year 2020 with breakdowns and explanations of the main items.
» Description of the business model with presentation of the production/business
programme (if not evident from the annual financial statements).
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 15Federal-state guarantees in NRW
Which documents must be submitted?
» Personally signed list of private assets, their liabilities and private debts of the owners or
partners who can exercise significant influence on the company, and their spouses.
» Certificate from the responsible tax office according to the form available there for the
applicant, who are personally reliable proprietors and other persons who practice material
influence on the company in their capacity as shareholder.
» Confirmation from the creditor and the debtor that no deferred payments have accrued up
to 31 December 2019.
» In case of losses in 2019: Form for declaration of UiS status as per 31 December 2019.
Important information available at:
» https://www.pwc.de/de/covid-19/merkblatt-landesbuergschaften-in-der-corona-krise-
nrw.pdf
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 16NRW.Bank 3
NRW.BANK
NRW.BANK offers the NRW.BANK.Universalkredit loan to bridge liquidity
bottlenecks
» There are no rules regarding minimum/maximum limits.
» The interest rate is fixed over the entire term..
» Flexible terms and conditions of loan can also be agreed upon in individual cases for loan
amounts of EUR 5 million and above.
» If a loan amount of EUR 10 million is exceeded, the special relevance of the project for
North Rhine-Westphalia must be explained in terms of the federal state’s assistance
policy.
» 80% release from liability for working capital financing with a term of up to five years is
possible for companies with liquidity problems due to the corona crisis. There is no
minimum amount for liability releases.
» Indemnification is offered exclusively for investment and working capital loans pf EUR
125,000 and above.
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 18NRW.BANK
NRW.BANK offers the NRW.BANK.Universalkredit loan to bridge liquidity
bottlenecks
» The loan must be secured with the customary collateral within the scope of the applicant’s
capabilities.
» Rescheduling of assistance loans from the federal state of North Rhine-Westphalia,
NRW.BANK and KfW Bankengruppe is not possible.
» The NRW.BANK.Universalkredit loan is made available under the customer access
mechanism.
Important contact information:
» NRW.BANK: ++ 49 211 91741 – 4800
» https://www.nrwbank.de/de/index.html
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 19Contact 4
Contact
Martin Franke
Associate Partner
Public Accountant, Tax Advisor
+49 221 1643 230
Martin.Franke@pkf-fasselt.de
Gerd Norta
Senior Manager
Public Accountant, Tax Advisor
+49 203 30001 266
Gerd.Norta@pkf-fasselt.de
PKF Fasselt Schlage Partnerschaft mbB - Wirtschaftsprüfungsgesellschaft ∙ Steuerberatungsgesellschaft ∙ Rechtsanwälte 01.07.2020 21PKF FASSELT SCHLAGE
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