1. Crisis emergency fund of € 233 million to support sectors suffering economic damage as a result of the coronavirus and the measures taken by the National Security Council.
The Walloon Government has decided to grant € 5,000 per company that has been completely closed down. The application platform is online since 27 March 2020.
The compensation is only available for micro and small enterprises, which are registered in Wallonia, are active in specific sectors (restaurants, accommodation, retail trade, travel services, events sector, personal services, carwash, etc.) and which have paid social security contributions in 2018. More details (in French) can be found via the following link.
Self-employed persons and undertakings who demonstrate a substantial reduction in their activities in March and April will receive a compensation of € 2,500. The application platform for this compensation is not yet available.
More information in French about the measures can be found here.
2. Water and electricity bills
For Walloon companies that encounter problems in paying their water bills on time, payment can be spread out upon a simple request to the Walloon Water Company (SWDE).
3. SOWALFIN, SOGEPA and SRIW will grant a general freeze on outstanding loans until the end of March 2020. This freeze may be extended until the end of April 2020.
4. SOWALFIN, SOGEPA AND SRIW are also offering other support measures (loans and guarantees) for companies in financial difficulties.
To meet the urgent cash needs of companies, SOGEPA and Wallonie Santé will offer, for example, loans for a maximum amount of € 200,000 with a deductible repayment of 1 year and a fixed interest rate of 2%.
More details on the other support measures (in French) can be found here.
5. The ‘Fédération Wallonie-Bruxelles’ has approved the launch of an emergency loan for cultural and creative enterprises. The loan would be available for a period of 6 months (possibly renewable for 6 months) for an amount of €20,000 to €100,000 with a fixed interest rate of 2%.
Companies that need cash to enable them to bounce back will also be able to take out a € 45,000 loan at a favourable rate with the support of Sowalfin. The loan will benefit from a capital allowance of up to 6 months and cannot be combined with the two compensation amounts mentioned above.
More information on the St’art loan can be found via this link.
6. Deadlines in regional procedures: the SPW Economy will ease the deadlines for companies with a commitment to the Walloon Region (e.g. in terms of a target for new jobs, a deadline for aid reimbursement, etc.).
7. The Walloon government will also grant € 115 million to support the health, social and employment sector. More details can be found here.
The above information is merely intended as comment on relevant issues of Belgian law and is not intended as legal advice. Before taking action or relying on the comments and the information given, please seek specific advice on the matters that are of concern to you.