Contents
Interest has been charged on the loans for a year. The industry fears a further increase.
Anyone who works in the catering industry knows it only too well: there are no big margins and when fixed costs rise, things can get tight.
17 billion Covid loans
Open box Close box
During the Covid pandemic, the federal government rescued numerous companies and around 17 billion francs in Covid loans were paid out. It was the largest operation of its kind in Swiss history. These loans have to be repaid, which around half of the companies have already done.
This could soon be even more the case, because the Federal Council could increase the interest rate on Covid loans again from 1.5 percent.
“Reduction would help the industry and SMEs”
For some restaurants, another increase would be fatal, says Casimir Platzer from Gastrosuisse. He even calls for a reduction in interest rates. “We hope that the Federal Council will take the current economic situation and the situation of many SMEs into account and lower the interest rate again.” This would help the industry and SMEs.
Legend: Casimir Platzer calls for a reduction in repayment interest. SRF
It was the catering businesses that received the most federal Covid loans four years ago. At that time, the federal government opened some of the money storage facilities for free, an unprecedented move. The borrowers and therefore the restaurateurs already knew back then that interest rates could become an issue.
Nevertheless, they are bothered by it today. “The Federal Council has said that it will review the interest rates annually. “But he also said that when he weighs up his interests, he will definitely support the 100,000 SMEs and not the 123 banks,” said Platzer.
Interest rate increases seem rather unrealistic
The interest rates on Covid loans are still comparatively low. According to SRF business editor Reto Lipp, increasing this in the current economic situation will not be easy. “In fact, the National Bank’s interest rate is higher than the interest rate on Covid loans. However, there is currently a lot of speculation on the financial markets that the central bank could cut interest rates as early as March. That seems over-optimistic.
Legend: The interest rates on Covid loans are still comparatively low. SRF
But in a climate where people are talking about cutting interest rates, raising interest rates again seems to be a signal that is difficult to understand politically, said Lipp.
It is still unclear whether restaurateurs will have to prepare for higher interest rates. The Federal Council is expected to decide this at the end of March.
2024-02-18 20:09:34
#Repayment #interest #rates #high #Beizers #difficulty #repaying #Covid #loans
