New credit guarantee programme for technology-based start-ups
The canton of Basel-Stadt will, with effect from 1 December 2020, support technology-based start-ups that suffer from the consequences of COVID-19. The canton partners with the Eckenstein-Geigy-Stiftung and the Basler Kantonalbank (BKB).
The canton will guarantee subordinated loans to an extent of 90%. The Government of Basel-Stadt has, on 24 November, accepted the corresponding ordinance. The canton partners with the Eckenstein-Geigy-Stiftung and the Basler Kantonalbank (BKB). The Eckenstein-Geigy-Stiftung, based in Basel, will guarantee the remaining 10% of the credit risk. Start-ups will have to sign a warrant agreement with the canton, enabling the canton and the Eckenstein-Geigy-Stiftung to participate in the future success of the start-ups. The canton is interested in co-operating with further sponsors or banks. All credit guarantees will be granted by the Government.