Fixed cost subsidies will be available this year for Austrian businesses

Austrian Finance Minister Gernot Blümel said in a press conference that ”Fixed cost subsidies will be available this year. Applications possible from 20th May”.

“We have already achieved a great deal with the €38 bn protective package we have extended over the Austrian economy. Much remains to be done, but a total of around €19 bn in funding has been committed so far. There is a €15 bn corona relief fund, which is processed via COFAG and includes two relief mechanisms. On the one hand, there are loans, which are guaranteed by the state and granted through the banks”, said Finance Minister Gernot Blümel.

COFAG has provided around €1 bn in guarantees by now and Austria is one of only four EU countries to offer 100% guarantees.

Advance payment of the fixed cost subsidy

Additionally to the state guarantees, the fund provides a second relief mechanism in the form of grants to particularly hard-hit companies. These grants cover fixed costs and perishable goods.

The subsidy is staggered and, depending on the extent of the loss, up to 75 % of fixed costs and perishable goods can be reimbursed. It is now also possible to pay this subsidy in advance.

Applications can be submitted on FinanzOnline from 20th May. The finance office checks plausibility in an automated process before COFAG conducts the final checks and approves the payment. 

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