On 13, 20 and 25 March 2020, the Federal Council approved a comprehensive package of measures totalling around CHF 40 billion to mitigate the economic consequences of the spread of coronavirus. CHF 20 billion of this was made available for bridging credit facilities. At its meeting on 3 April 2020, the Federal Council decided to increase the guarantee volume for liquidity assistance to CHF 40 billion. This leaves over CHF 60 billion available for:
If your company (sole proprietorships, partnerships, legal entities) is affected by a liquidity shortfalls as a result of the coronavirus, you can quickly and easily obtain credit amounts of up to 10% of turnover or a maximum of CHF 20 million from your bank.
To enable you to obtain a bridging loan from the banks, the Federal Council will set up a guarantee programme worth CHF 20 billion. Amounts up to CHF 500,000 will be paid out immediately by the banks and 100% guaranteed by the Confederation. Amounts in excess of this will be 85% guaranteed by the Confederation and will require a brief bank examination.
The emergency ordinance for the granting of the credits is to be adopted and published in the middle of next week. After that, the currently still open questions regarding the modalities of submitting these applications can be clarified. Applications can then be submitted to the respective house bank.
The entitlement to short-time work is also extended to persons who are in a position similar to that of an employer or who work in the business of the spouse or registered partner. You can find more information here: Short-time work due to the coronavirus
Entitled are self-employed persons who suffer a loss of income due to the measures of the Federal Council. You can find more information here: Information self-employed persons
Parents who have to interrupt their gainful employment due to school closures in order to care for their children are entitled to compensation. They are also entitled to compensation in the event of interruption of employment due to a quarantine ordered by a doctor.
The compensation is based on the income compensation regulations and is paid as a daily allowance. This corresponds to 80 percent of income and amounts to a maximum of 196 francs per day. You can find more information here: Information self-employed persons
In order to bridge liquidity shortfalls, employers may temporarily use the employer contribution reserves they have built up to pay employee contributions to the occupational pension scheme.