Companies in Saxony can now obtain guarantees more quickly than before to gain access to loans. The Bürgschaftsbank Sachsen (BBS) is now offering a so-called “24-hour guarantee,” according to an announcement by the Ministry of Finance and the Ministry of Economic Affairs. Decisions on such applications are expected to be made within one day.
The paperless express procedure applies to loans of up to 375,000 euros and is intended for companies based in Saxony or planning investment projects there. The goal is to facilitate investments more quickly despite a lack of collateral and to speed up the loan process. In particular, the aim is to make it easier for small and medium-sized enterprises to access debt capital.
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