Bavaria: Bavaria expands guarantees for companies

Munich (dpa/lby) - Bavaria offers extended guarantees to companies that have temporarily run into financial difficulties as a result of the consequences of the war.

Bavaria: Bavaria expands guarantees for companies

Munich (dpa/lby) - Bavaria offers extended guarantees to companies that have temporarily run into financial difficulties as a result of the consequences of the war. Economics Minister Hubert Aiwanger (FW) said on Tuesday that interrupted supply chains made production more difficult for many companies, and that rising energy, raw material, transport and material costs weighed on them.

The development bank LfA offers guarantees of up to 30 million euros. State guarantees can be applied for in the case of higher financing requirements or for companies with annual sales of more than 500 million euros. Investments and working capital financing could be applied for with a guarantee rate of up to 80 percent. Aiwanger said: "We want to get everyone through the crisis as far as possible in order to save jobs and enable a dynamic upswing once the economic situation has normalized."

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