Corona Rettungsgeld Rettungszuschuss – Financial support for Freelancer and small business

As the whole world is suffering from the Corona pandemic, the Federal Government has decided to help freelancers and small enterprises/company with financial aid in Berlin with Corona Rettungsgeld Rettungszuschuss. There are thousands of small business and freelancer working in Berlin as Artists, freelancers, Hair Dressur, Restaurant, small Shop etc who are really suffering due to Corona and they cannot work right now. Due to that it is getting very difficult for them to earn money and survive. Thats why Government has decided to help all the free lancer and small business owner in Berlin.

The Investitionsbank Berlin wants to quicky help and support Freelancer and small businesses in the Corona crisis with Corona Rettungsgeld Rettungszuschuss and transfer several hundred million euros to those affected as early as Monday.

The emergency aid is the biggest hope of small entrepreneurs and solo self-employed people who are afraid of insolvency because of the Corona crisis. Below you will find more information related to financial support:

Who is supported for the federal programme:

  • Artists, Freelancer, self employed, Shops like (Hair dresser, tabac Shop, Restaurant) and startup who has up to 5 employees from all economic sectors
  • Small business and companies who has up to 10 employees

How much Emergency financial aid will be provided:

  • for companies with up to 5 employees (FTE) EUR 5,000 from state funds and up to EUR 9,000 for 3 months from federal funds
  • for companies with up to 10 employees (FTE) up to EUR 15,000 from federal funds for 3 months

    Read more here

Terms and Conditions:

  • The company or self-employed person must be registered in Berlin.
  • The economic difficulties must have been caused by Corona.
  • Companies that were already in difficulties before Corona are excluded from the beneficiaries.

As per the Investment Bank Berlin (IBB), The Senate is initially making 100 million euros available, but hopes that additional money will be provided by the federal government. Around 80 percent of Berlin’s companies belong to the group of solo self-employed and small businesses with up to ten employees.

It is also very interesting to know that the Investment Bank Berlin (IBB) had also offered interest-free loans of 100 million euros for the companies.

Except the immidate help to Freelancer and small business, it is also being decided that there will be financial support given for the running cost which is as follows:

Federal funding for running costs

For this purpose, solo self-employed persons and small enterprises can take advantage of additional federal aid of 9,000 euros. Companies with up to ten employees can receive up to 15,000 euros from federal funds.

The above mentioned federal funds can only be applied for for current operating costs such as rents, loans for business premises, leasing rates and similar.

Note: The explanation and the information in this article are just for guidance and you should seek specific official advice from the website of IBB and IHK Berlin

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