The HypoVereinsbank, the Germany-based private commercial bank and KfW Banking Group, the Germany-based promotional bank, have signed a contract for a global loan for SME loans amounting to EUR500m.
This global loan is part of the ongoing activities by the Federal Government of Germany and represents an important component to stabilize the credit market for companies in the nation.
Lutz Diederichs, board of HypoVereinsbank for corporate and investment banking, said: “The global loan is an important product for us to help midsize companies in Germany, which because of the current financial and economic crisis have temporary financial difficulties, but are structurally sound and long-term competitiveness.”
Axel Nawrath, board member of KfW banking group for the domestic development business, said: “With the completion of this global loan, we make a further contribution that the small business boom that began in obtaining sufficient funding. We can count with, HypoVereinsbank on a long-time partner in the field of SMEs.”
