Banks support the national economy in the wake of COVID-19

Spuerkeess has been providing special financing and payment deferrals for existing financial commitments since the very start of the pandemic. 

One of the first initiatives was to offer a deferral of up to six months on loan payments or leasing expenses. Over 2,500 deferrals have been requested at Spuerkeess to date with a 98% approval rate.

Additionally, special financing solutions adapted to the current economic scenario are also available:

• Partial unemployment pre-financing, subject to approval by the employment agency (ADEM) 
• State guarantees for new loans with a maximum duration of six years
• Guarantees through the Office du Ducroire - Luxembourg Credit Export Agency
• Guarantees and Special Anti-Crisis Financing (SACF) with the SNCI
• Guarantees and financing through La Mutualité des P.M.E. and La Mutualité de Cautionnement for a maximum duration of five years
• InnovFin SME Guarantees by the European Investment Fund (EIF)