Saxony-Anhalt: State: Support the economy with interest rate reductions on loans

Magdeburg (dpa/sa) - The state of Saxony-Anhalt has reduced interest rates on loans from the SME and start-up fund.

Saxony-Anhalt: State: Support the economy with interest rate reductions on loans

Magdeburg (dpa/sa) - The state of Saxony-Anhalt has reduced interest rates on loans from the SME and start-up fund. This was announced by the Ministry of Economy on Friday. The changes are therefore effective immediately.

The low-interest loans should help to pre-finance orders, to invest in measures for more energy efficiency or in modern warehouses, said the department of Minister Sven Schulze. For example, the effective annual interest rate for SME loans from the investment bank for a financing amount of up to EUR 3 million falls from 1.95 to 0.95 percent. For a construction and modernization loan, the rate drops from 1.45 to 0.95 percent.

"As a state, we want to help companies remain flexible in the crisis and to organize business operations economically and sustainably. In addition, Saxony-Anhalt's economy is receiving an economic stimulus that helps to remain competitive," explained Schulze.

With a start-up loan, for example, the state wants to promote promising business ideas. Anyone founding a company or taking on a successor in times of crisis can also receive a loan. The investment bank offers advice on this.

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