Factsheet for measure
DK-2020-12/597
–
Updated
– measures in Denmark
Guarantee scheme for large enterprises (above 250 employees)
Statsgaranteret lån for store virksomheder
Background information
Together with all parties of the Danish parliament, the government has passed a new guarantee scheme via Vækstfonden (the Danish state's investment fund) The new scheme is targeted large companies (above 250 employees) affected by the effects of COVID-19.
The guarantee scheme is part of the government's aid package for business. The government and all the parliamentary parties announced the total relief package on 19 March 2020.
The scheme's guarantee framework is a total of DKK 25 billion. and can thus facilitate loans of up to DKK 35.7 billion.
Content of measure
The Growth Fund can guarantee the loans or credit of large companies in the financial institution to cover losses or expected losses in revenue of at least 30% as a result of the spread of COVID-19. The measurement is based on the start time of 1 March 2020 and is based on a minimum period of 14 days.
Large companies in all industries with a CVR number and address in Denmark can receive a COVID-19 guarantee. That is, companies with: Over 250 employees (full-time equivalent) and / or Revenue of more than DKK 372 million and a balance sheet total of more than DKK 320 million per year.
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The same company can be guaranteed several times - however, the Growth Fund cannot guarantee loans to cover loss of revenue, which relates to the same period more than once. The guarantee covers 70% of the financial institution's losses.
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The guarantee has a term of up to 6 years and is written down on a straight-line basis over the term.
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The schemes are valid until 1 October 2020, and also apply to Faroese and Greenlandic companies.
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The guarantee scheme is part of the government's aid package for business. The scheme's guarantee framework is a total of DKK 25 billion and can thus facilitate loans of up to DKK 35.7 billion.
Updates
The following updates to this measure have been made after it came into effect.
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27 December 2021
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The measure is prolonged until the 27 December 2021.
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Use of measure
Unknown.
Target groups
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Workers
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Businesses
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Citizens
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Does not apply to workers
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Larger corporations
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Does not apply to citizens
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Actors and funding
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Actors
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Funding
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National government
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National funds
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Social partners
Social partners' role in
designing the measure
and form of involvement:
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Trade unions
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Employers' organisations
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Role
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No involvement
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No involvement
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Form
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Not applicable
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Not applicable
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Social partners' role in the
implementation, monitoring and assessment phase:
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No involvement
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Main level of involvement: Unknown
Involvement
n/a
Views and reactions
Unknown.
Sources
