Intervention Categories: Finance policy and financial aid; Stimulus packages and financial support
Level of Jurisdiction: National
Overview: The Dutch Government has extended their SME Credit Guarantee (BMKB) scheme to help small to medium businesses secure loans from banks and other lenders.
Under the scheme, 75 percent of the lending credit (loan) can be guaranteed by the government. This is intended to encourage financial providers, such as banks, to increase lending and businesses to borrow more money. The government estimates that this measure will provide â‚¬300 million of additional financing for small to medium businesses affected by COVID-19.
The scheme is available to businesses (including in the Dutch Caribbeanâ€”Bonaire, Saba or St. Eustatius) which have been established for over three years, with less than 250 employees, and an annual revenue of â‚¬50 million or a balance sheet total (total value of assets) of â‚¬43 million.
The Dutch Government reduced the interest rate for the BMKB scheme from 3.9 percent to 2 percent and increased the scheme”s budget from â‚¬765 million to â‚¬1.5 billion. It also allowed non-bank lenders to become accredited to finance their existing customers under the BMKB scheme.
Full details here: https://www.rijksoverheid.nl/actueel/nieuws/2020/03/15/coronavirus-verruiming-bmkb-regeling-voor-ondernemers-versneld-opengesteld