Working closely with the Confederation, we were able to quickly and easily provide our business customers with bridging loans of up to 500,000 francs, subject to certain conditions, if they found themselves facing liquidity and financing problems through no fault of their own as a result of the COVID-19 crisis.
COVID-19 credit limit
PostFinance is participating in the Federal Council’s assistance programme. The deadline to apply for the COVID-19 loan is 31 July 2020.
- The loan is issued in Swiss francs as an account overdraft limit on a PostFinance business account.
- The interest rate is currently 0.0% net p.a. (the Federal Department of Finance adjusts the fixed interest rate once a year on 31 March in line with market developments).
- The current COVID-19 limit can be viewed in e-finance under “Account information” in the account tile.
- The maximum amount is 10% of the applicant’s revenue, up to a limit of 500,000 francs.
- The loans granted must be repaid in full within eight years. (The COVID-19 loan can be repaid and terminated at any time before the end of the loan term).
- The first instalment must be paid by 31 March 2022. Thereafter, the COVID-19 loan must be fully amortized in quarterly linear tranches up until one semester prior to the end of the loan term (30 September 2027).
The first instalment must be paid by 31 March 2022. Thereafter, the COVID-19 loan must be fully amortized in quarterly linear tranches up until one semester prior to the end of the loan term (30 September 2027).
If you are using your COVID-19 credit limit
If you are using your limit at the time of the amortization, we ask you to settle the amortization amount due on your account. Your limit will subsequently be reduced automatically.
If you are not using your COVID-19 credit limit
You are not currently using your COVID-19 loan. Your limit will be automatically reduced by the amount due at the time of amortization.
What happens if you cannot afford the amortization
Fundamentally, you must ensure that you are in a position to repay your COVID-19 loan. If you cannot afford the amortizations, the COVID-19 loan will be cancelled after a warning period. The relevant surety bond cooperative will repay the COVID-19 loan to PostFinance and as such will become the lender of the amount receivable. You will then be contacted by the relevant surety bond cooperative by a given time to determine the next steps (repayment methods etc.).
The loans granted must be repaid in full within eight years. The COVID-19 loan can be repaid and terminated at any time before the end of the loan term. The termination is irreversible.
Do you have any questions on COVID-19 bridging loans?
We would be pleased to advise you by telephone on 0848 888 900 (max. CHF 0.08/min. in Switzerland).