The Dutch state makes an additional 750 million euros in bridging loans possible for companies with relatively small financing needs. The scheme will be called Small Credit Corona Guarantee Scheme (KKC scheme) and was partly initiated by the banks. The government guarantees 95% (713 million euros).
Under the KKC scheme, entrepreneurs can apply for a loan of at least € 10,000 and a maximum of € 50,000. The term is a maximum of 5 years, and the interest is a maximum of 4%. In addition, entrepreneurs pay the state a one-off premium of 2% as compensation. The scheme is open to entrepreneurs with a turnover of € 50,000 or more, who were sufficiently profitable before the corona crisis and who have been registered in the Dutch Chamber of Commerce since 1 January 2019.
The scheme is now being worked out and must be approved by the European Commission. The aim is to have the arrangement available from mid-May.
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NAZALI TAX & LEGAL |