Navigating through COVID-19

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COVID-19 Information Hub


Our COVID-19 information hub keeps our members updated on the latest developments in transatlantic business in the context of the coronavirus outbreak. Here, you’ll find information about business services in the US and Germany, aid packages implemented by both governments and resources by various reliable organizations. We’ll also provide you with the latest information about new activities at AmCham Germany, such as virtual events and new communication channels.

All over the world, aid packages are focused on actions to tackle the COVID-19 outbreak and reduce the economic effects of the virus. For this reason, AmCham Germany has compiled a special COVID-19 Briefing. In the briefing, you will find information on:


Measures at the European Level

  • The European Commission has provided its member states with a temporary framework of aid to support the economy. Among other things, the new framework allows member states to grant subsidies or relief of €500,000 to companies and to secure loans with state guarantees. More information about the EU temporary framework on the website of the European Commission: https://bit.ly/2QJxkws

  • Find our comparative tracker of EU and Global COVID-19 measures here.

  • Find information about COVID-19 impact on foreign direct investment in the EU here.

  • Aid from the European Investment Bank


Measures in Germany

  • Company, self-employed or a freelancer - have you run into financial difficulties because of the coronavirus crisis and do you need a loan? You can now get a KfW loan to improve your liquidity and cover running costs. Apply for the loan through your bank or savings bank. 
  • Funding database for grants and financing

  • Information on immediate help for companies

  • Information on short-time allowance (Kurzarbeit)

  • KFW Special Program


Measures in the US

  • A major goal of the US government is to keep small and medium-sized businesses alive and protecting their workforce. The lead agency for assistance for SMEs is the Small Business Association, a US government agency. Any monies that are approved will be made available and distributed through the banks. Find out more

  • On April 30, 2020 the Board of Governors of the Federal Reserve published two updated term sheets and one new term sheet for the Main Street Lending Program, which will be funded by three Federal Reserve facilities under Section 13(3) of the Federal Reserve Act, along with FAQs that may from time to time be updated. Find out more.

  • After much anticipation, the Board of Governors of the Federal Reserve on April 9, 2020 announcedadditional actions “using its full range of authorities” to provide US$2.3 trillion of credit to a wide variety of business enterprises, states and municipalities. More about the CARES Act Financial Assistanceto Business Enterprises, Statesand Municipalities

  • As a result of the COVID 19 crisis EXIM had numerous discussions regarding the temporary lack of liquidity of the private sector. Foreign buyers are experiencing difficulties in obtaining financing in the commercial markets due to the economic strains. Therefore EXIM establishes a Temporary Bridge Financing Program

  • Furthermore EXIM modifies a Supply Chain Financing Guarantee Program, introduced in 2010. EXIM will temporarily waive the target of 50 percent small business. This will allow EXIM to help in those instances when US exporters have supply chains composed of suppliers that are not mostly small businesses. Read more

  • EXIM’s Working Capital Guarantee Program facilitates loans from commercial lenders to creditworthy US businesses that export over the term of the loan. Find out more.

  • Due to the COVID-19 crisis there was concern regarding the inability to finance pre-delivery or pre-export payments owed to manufacturers during the manufacturing process. Therefore the EXIM temporarily expanded the Pre-Export Payment Policy to become the Pre-Delivery/Pre-Export Financing Program

  • The US$ 349 billion Paycheck Protection Program (PPP) included in the third stimulus package has been exhausted since Thursday morning. In a statement released on Wednesday, US Treasury Secretary Steven Mnuchin and the Small Business Administration (SBA) stressed that the agency will then no longer be able to approve new loans. They called on Congress to increase the aid program: https://bit.ly/2VDDEqK

  • Updated guidance on securing CARES act stimulus funding for small businesses

  • US Concierge Service Desk for SMEs by the European-American Business Organization Group

 

Please note that this information is frequently updated.

We at AmCham Germany will continue to provide you with high-quality, content-driven events in the form of web seminars, online briefings and conference calls. We are also happy to provide virtual events with best-practice information for companies on how to deal with COVID-19. To find out what events are happening next, please check out our Upcoming Events Page

Want to stay up-to-date on the latest transatlantic business news? 
We encourage you to sign up for our policy newsletter The Navigator and listen to our new podcast The Clue

If you have any questions about the impact of COVID-19 on transatlantic business or AmCham Germany's activities in this regard, please do not hesitate to contact our communications department at presse(at)amcham.de.

As always, we welcome your questions, comments and concerns!

"Only a collective understanding of measures against the virus will help us to contain this pandemic and find solutions for our society and economy on both sides of the Atlantic. In our globalized world, we need to develop joint aid initiatives for transatlantic trade."


Frank Sportolari, President of AmCham Germany