LOWER SAXONY. Similar to companies, self-employed people or freelancers, the corona pandemic also affects non-profit organizations in Lower Saxony. Necessary income or donations are no longer available to the extent required to cover ongoing costs or upcoming investments, for example. In order to prevent liquidity bottlenecks or even a complete loss of liquidity, the “Niedersachsen-Schnellkredit charitable organizations” can be applied for from NBank.
Dr. Carola Reimann, Lower Saxony Minister of Social Affairs, underlines the importance of the funding: “The social importance of the non-profit sector cannot be overestimated. That is why it is important to me that social institutions have the same rights as commercial companies to obtain loans at very favorable refinancing conditions. “
Dr. Ulf Meier, board member of NBank: “The new Lower Saxony express loan for non-profit organizations closes a gap in order to counter the consequences of the corona pandemic and to support the economy and society to survive the crisis as unscathed as possible. With the funding we help non-profit organizations to continue their socially important work. “
The funding offer is aimed at non-profit organizations that have temporary financial difficulties due to the Corona crisis. Structural difficulties are left out when assessing whether funding is possible.
Loans from 10,000 euros to 800,000 euros can be applied for. The term varies between five, seven and ten years. Repayment suspensions are possible depending on the term. There is no need to provide securities.
The application can be made quickly and without complications via the NBank customer portal. An explanatory video gives precise instructions.
The application is now possible. Running costs (operating resources) and short-term purchases (investments) in the social infrastructure are funded. Salaries, wages and fees for freelance workers are eligible under certain criteria.
Lower Saxony is one of the six federal states in which the KfW special program for non-profit organizations has been implemented so far.
Minister Dr. Reimann concludes: “In Lower Saxony, therefore, stands for youth and family education facilities, youth hostels, workshops for disabled people and other non-profit social enterprises in addition to the state’s services from the directive” Corona – Special program for youth and family education and recreation “as well as investment cost subsidies Nursing facilities under the Lower Saxony Nursing Act to compensate for corona-related loss of income have another program available that mitigates the consequences of the COVID-19 pandemic and the economic consequences caused by it and contributes to the preservation of our diverse social landscape. “
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