The Cabinet clarified two new (credit) arrangements in connection with the corona crisis.
Small Credit Corona Guarantee Scheme (KKC)
The KKC is intended for entrepreneurs with a credit application of EUR 10,000 to EUR 50,000.
The loan is open to entrepreneurs:
- with a turnover starting at EUR 50,000 per year,
- who were sufficiently profitable prior to the corona crisis, and
- who, on 1 January 2019, were registered at the Dutch Chamber of Commerce.
The government guarantees 95% of these loans to entrepreneurs. The lender may pass on a maximum of 4% costs to the entrepreneur. In addition, the entrepreneur must pay an one-off premium of 2% to the State.
For the time being, only banks and financiers accredited for the BMKB-C scheme, are allowed to offer these loans. Other lenders can report to the Rijksdienst voor Ondernemend Nederland (RVO.nl).
This scheme has yet to be approved by the European Commission.
The COL is intended for entrepreneurs with a credit application between EUR 50,000 and EUR 2,000,000. This facility is open to start-ups, scale-ups, innovative small and medium-sized entreprises (SMEs) and SMEs without a banking relationship.
These enterprises that, due to the corona crisis, find it difficult to obtain a bridging loan from a bank can apply at the Regional Development Agencies (ROMs) for a Corona-bridging Loan (COL). The loans granted vary between EUR 50,000 and EUR 2,000,000 and have a fixed interest rate of 3%.
If an entrepreneur wishes to borrow more than EUR 250,000, a co-financing of 25% is expected from the shareholders.