Business founders in Saxony can apply for a reduced-interest microloan

Founders of new businesses in Saxony can receive a reduced-interest microloan of up to 30,000 euros for their projects. The loan can be applied for with immediate effect from the Sächsische Aufbaubank (SAB), the Ministry of Economic Affairs announced in Dresden on Thursday. Accordingly, the maximum term of the loans is six years - one year of which is repayment-free.

"SMEs are the heart of our economy," said Economics Minister Martin Dulig (SPD). With the new loan program, the Free State wants to enable its companies to successfully implement their projects and thus secure jobs and create new ones. "We are supporting the transformation process, especially in regions affected by structural change." No project is too small for this.

The aim of the loan is to support the establishment of a sustainable self-employed or freelance business. On the other hand, they are intended to consolidate existing young companies or freelance businesses. Investments and working capital of up to 80 percent of the eligible costs are financed. The microloans are part of the "Loans for SMEs" program presented in autumn 2023.