08 May 2020 – Allocated additional funding for companies to secure small loans

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Industry interventions
Sectors Involved: Business support
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Dutch Government has allocated an additional €750 million towards a new Small Credit Corona Guarantee Scheme (KKC), which aims to support banks and other accredited lenders in providing loans to companies with small financing needs (from €10,000 to 50,000).

Under the scheme, 95% of loans provided will be guaranteed by the Government (totalling €713 million). The loans will also have an interest rate of up to 4%. Approval by the European Commission is required before the scheme can officially enter into force.

It is expected that tens of thousands of companies will take advantage of the new scheme.
Full details here: https://www.rijksoverheid.nl/onderwerpen/coronavirus-covid-19/nieuws/2020/05/08/750-miljoen-euro-extra-corona-overbruggingskrediet-gericht-op-kleine-bedrijven