Corona – Measures by the Walloon government

WALLOON MEASURES (24 March 2020 (12h00))

Below is an overview of the financial support and compensation measures that have recently been adopted or announced by the Walloon government.

1. Central information point: The website 1890 went online, publishing all the official information related to the impact of COVID-19 on companies in Wallonia.

2. Walloon Fund COVID:

FOR WHOM:

• A single subvention of EUR 5,000.00 is granted to companies that have been subject to a full shutdown as a result of the measures and that, moreover, belong to the following sectors:
  • Bars and restaurants;
  • Hotels;
  • Travel agencies, booking offices and associated activities;
  • Retail, with the exception of food stores, pet food stores, pharmacies and newsagents;
  • Other personal services, with the exception of hairdressing businesses;
  • Automobile repair and sales
  • Arts, spectacles and recreative activities (gyms, sports& leisure…)
  • real estate mediation and sales and renting of real estate
  • cinema’s

INCENTIVIE

• A single subvention of EUR 5,000 EUR
• A single subvention of EUR 2,500.00 will be made available for hairdressing businesses whose activities are restricted as a result of the measures imposed by the National Security Council.

Applications are open via an online platform: https://indemnitecovid.wallonie.be/#/. where you can verify if you match the criteria based on your VAT number.

3. Corona Compensation

• A one off compensation of EUR 2,500 is available for independant professionals and undertakings that had to suspens their activities substantially in March and April and that bhave benefitted from the transitional rights (see point 5) https://racinebrussels.eu/corona-federal-measures/
• The application forms and conditions will be published on http://www.1890.be,
• You can register for an update on https://indemnitecovid.wallonie.be/#/

4. Corporate cashflow: Aid measures in the form of guarantees and banking loans will be provided by SRIW, SOGEPA and SOWLFIN.

• SME’s will be able to reach out to SOWALFIN, which will grant guarantees on existing credits, the increase of existing credits and new credits in the short term.
  • For existing loans, the instalments for capital and interest of 31 March 2020 will not be claimed. De payment plan for the capital is suspended with a similar period
  • A ‘ricochet’ loan of maximum EUR 45,000 at an interesting rate is available to lend pressing cash flow needs. The loan includes a capital cap of maximum 6 months. This loan cannot be combined with other compensation mechanisms (see point 2 and 3)
• SOPEGA will grant loans to companies in order to meet their short-term payment obligations.
  • Sogepa and Wallonie Santé propose laons with a maximum of EUR 200,000 with a reimbursement franchise of 1 year at a fixed rate of 2%
• Lager companies can call upon SRIW to grant guarantees on existing credits, as well as new crisiscredits in the short term.

Would you like to know more?

The Racine team is at your disposal to answer your specific questions.