Bridge over a ravine

© Adobe Stock/Feodora

Initial advance payments of Bridging Assistance III have been paid out. Yesterday afternoon – only one day after the application process for Bridging Assistance III was opened on 10 February – the Federation began to make the first advance payments. This is good news for many companies and their employees who are finding themselves in troubled waters. It means that companies can now receive up to €100,000 in advance payments per month for the relevant period – an overall €400,000 for four months. Advance payments higher than €400,000 will also be ready to be paid out by the end of February. Regular payments and the assessment of applications by the Länder will begin in March.

Between the beginning of the application process on 10 February and yesterday evening (11 February), 282 applications were made and €4.5 million in advance payments paid out.

Bridging Assistance III is available to companies that are heavily affected by the COVID-19 pandemic and the current partial lockdown. Until the end of June, these companies can receive support of up to €1.5 million per month. This aid is not repayable. Applications for Bridging Assistance III can be made via the pan-German platform at www.ueberbrueckungshilfe-unternehmen.de (in German).

As economic assistance is dependent on State-aid negotiations with the European Commission and a complex process of coordination with the Federal Ministry of Finance and the 16 Länder, the Federal Ministry for Economic Affairs and Energy introduced the instrument of advance payments along with the November Assistance. This instrument is now firmly established and makes it possible for companies to receive this money much more swiftly.

For more information about Bridging Assistance III and the application requirements, please click here or visit www.ueberbrueckungshilfe-unternehmen.de (in German).