As the coronavirus started to spread over Europe in early 2020 and most European governments closed down public life, guarantee institutions all over Europe reacted in no time and set up extensive support measures for SMEs. Throughout 2020, AECM played an active role in coordinating its members’ activities and communicating with policymakers on the EU level.
In this publication, AECM introduces the main measures that its members have been adopting to support the severely affected SMEs during the pandemic:
- Increase of the guarantee capacity.
- Increase of the maximum and decrease of the minimum guarantee amounts.
- Increase of the coverage rate.
- Reduction or waiver of fees and interest.
- Fast-track procedures with reduced documentation requirements.
- Relaxation of repayment schemes.
- Extension of the scope of the guarantees.
- Reduction of collateral requirements.
- Equity and quasi-equity measures.
- Offering advisory services.