March 25, 2020 / 1:04 PM / 14 days ago

Swiss to charge zero interest on emergency loans for virus-hit firms

ZURICH, March 25 (Reuters) - The Swiss government will charge no interest rate on emergency loans of up to 500,000 Swiss francs ($509,995.92) it is making available to companies to help them weather the coronavirus-driven shutdown, it said on Wednesday.

Companies suffering “substantial reductions in revenue” can also apply for bridging credit representing up to 10% of their annual sales, to a maximum of 20 million francs as part of the measures.

Loans larger than 500,000 francs will be 85% secured by the Swiss government and have an interest rate of 0.5%. Companies can apply for the credits from this Thursday. ($1 = 0.9804 Swiss francs) (Reporting by John Revill, editing by John Miller)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below