Thousands of entrepreneurs hope for relief from corona aid

Thousands of small businesses and freelancers in Saxony are hoping that they will not have to repay emergency coronavirus aid. The Sächsische Aufbaubank (SAB) reported that more than 8,000 of those affected have so far indicated that they wish to be exempted from the corresponding repayment claims. However, this is only possible in very limited cases. Since this week, corresponding applications can be submitted via the development bank's portal.

Interest relief and extension of the payment deadline

In mid-July, the state announced relief for the repayment of such aid from the time of the coronavirus pandemic. This includes interest relief and a flexible extension of the payment period by up to 36 months. In individual cases, entrepreneurs can also be exempted from repayment altogether. According to the information provided, the total income from the tax return for 2023 must be less than 35,000 euros net and assets must not exceed 40,000 euros.

178 million euros in emergency aid repaid

According to the SAB, 178 million euros in emergency aid has already been repaid. The current feedback procedure relates to around 66,000 aid recipients, it said. Of these, almost two thirds (64 percent) have reported back so far. In around 25,000 cases, reclaims have been made. Around 97 million euros are currently still outstanding. With a view to a flexible extension of the repayment period, 1,500 applications have been submitted so far, according to the SAB. A positive decision has already been made in 750 cases.