358 million euros in Corona aid: Hamburg demands repayments from companies!

358 million euros in Corona aid: Hamburg demands repayments from companies!

Entrepreneurs in Hamburg are faced with a significant demand for reimbursement of Corona economic aid. In total, the recipients have to pay back 358 million euros to the city. Around 2,000 claims are currently open and primarily concern bridging and restart assistance, such as South Germans reported.

A total of around 3.8 billion euros in Corona aid was paid out in Hamburg during the pandemic. Most applications were approved by the Investment and Development Bank between 2020 and 2022. The economic authority expects total claims of around 200 million euros, with repayments to applicants for the bridging aid expected to be 280 million euros. So far, 48 million euros in back payments have already been made.

Deadlines and repayment obligations

The current reclaim raises questions, particularly regarding the financial burden on small businesses. The left-wing faction repeatedly expressed concerns that these repayments could place a heavy burden on small businesses. The billing of the emergency aid from 2020 has now been completed and there are no longer any additional payments to applicants in this context.

Across Germany, the repayment campaigns are part of a larger effort that has paid out over 60 billion euros to companies. Loud daily news To date, around 60.1 billion euros in various economic aid have been distributed in Germany.

Audit processes and financial situations

Companies are now obliged to prove that they actually needed the money they received. This proof is often provided by third parties, such as tax advisors, who have also submitted the applications. If approvals are too high, repayments must be made, although companies are given up to six months to do so and payments in installments are possible.

About a third of the companies have received confirmation of their funding from final invoices that have already been processed. In this context, over 40 percent of companies even receive more money than requested. In contrast, around a quarter of companies have to make repayments, on average these are around 7,400 euros. The Federal Association of Medium-Sized Companies has already expressed its concerns about the financial situation of many established companies. The repayment obligations could represent an additional burden in this tense situation.

By last Thursday, over 80 percent of the expected 860,000 final statements had already been submitted. The ministry expects that around 90 percent of all statements will be submitted by next Monday's deadline. In an emergency, companies that do not submit a final statement will be faced with the full repayment of the Corona aid they received. The review of these invoices by the responsible authorities could take several months, so lengthy queries are to be expected.

In summary, it can be said that the reclaims of Corona aid represent an important and pressing issue in the current economic situation, both in Hamburg and nationwide. Companies must now handle the subsidies they receive carefully and submit the resulting invoices on time to avoid financial losses.