Corona brigding loan for startup, scaleups and innovative SME's
The Dutch government is allocating € 100 million for bridging loans for start-ups, scale-ups and innovative SMEs. The Regional Development Companies (ROMs) provide this Corona Bridging Loans (COL).
Loans under favorable conditions
The Regional Development Companies (ROMs) will provide bridging loans under favorable conditions. The amounts of the loans vary between € 50,000 and € 2 million. For amounts above € 250,000, 25% co-financing is expected from the shareholders or other investors.
A uniform interest rate of 3% is applied and the terms are tailored to the target group. The aim is to assess and process applications under € 500,000 within four to nine working days. For applications above € 500,000, the aim is to reach a final decision within three working weeks.
The COL is emphatically an emergency instrument in connection with the economic situation as a result of the Covid19 outbreak. This means that entrepreneurs must be able to demonstrate that they need this loan because of the current economic situation, but that in principle they have a sustainable and healthy future perspective. Entrepreneurs must also have taken cost-reducing measures that you can reasonably expect from them at the moment.
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