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More than half a billion euros in aid approved for Lower Saxony's businesses

April 17, 2020


Abstract : NBank, the investment and business development bank of the northern German state of Lower Saxony, has so far approved around 536 million euros in emergency aid for companies, freelancers and self-employed persons.

NBank, the investment and business development bank of the northern German state of Lower Saxony, has so far approved around 536 million euros in emergency aid for companies, freelancers and self-employed persons. NBank announced in the state capital of Hanover on Wednesday that more than 80,000 applicants have received emergency aid that provides them with support to deal with the economic consequences of the coronavirus crisis.

The total number of incoming applications is about 180,000, but this figure includes duplications, multiple applications and pure requests. Adjusted for this, the current number is around 107,000 applications, the bank said.

In one case, an entrepreneur had submitted an application for Corona emergency aid more than 200 times - it was only granted once. "The man's computer had stalled," said NBank spokesman Bernd Pütz.

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