Government measures in key jurisdictions 5th edition - Flipbook - Page 141
The Netherlands
•
A broader scheme was introduced under the same GO-C. The GO-C scheme offers
businesses the opportunity to secure funding for liquidity caused by corona that would
otherwise not have been possible. The scheme is for medium and large companies with
substantial activities in the Netherlands and for entrepreneurs on Bonaire, St. Eustatius or
Saba. The GO-C scheme allows banks to obtain an 80% or 90% state guarantee on
medium and large loans. The percentage of the state guarantee depends on the turnover
of the company. Loans of up to Ä150 million are guaranteed up to Ä135 million. The state
guarantee reduces the risk for banks to provide liquidity financing as a result of the
corona and increases their options for lending money. A budget of Ä2.5 billion (for GO
and GO-C together) is available for 2021. The scheme is available until 30 June 2021. A
guarantee application may be submitted to the RVO until 15 June 2021.
•
A measure is available for businesses and self-employed individuals, named “TVL”. On
21 January 2021, the Dutch government announced that the existing TVL Scheme will
be expanded with broader support: (i) The TVL will be made available to all companies
in the Netherlands. (ii) The subsidy percentage will be further increased to 85% for all
entrepreneurs with a loss of turnover from 30%. This was 50% increasing to 70%. (iii)
The minimum amount of fixed costs for a company will be reduced to EUR 1,500 per
quart. That was EUR 3,000. This gives smaller companies access to the TVL. The share
of fixed costs associated with the SBI-code (indicating the business activities), not with
the actual fixed costs of the company. (iv) The minimum subsidy amount per quarter will
be increased to EUR 1,500. (v) The maximum subsidy amount per quarter will be
increased to EUR 330,000 for SMEs (maximum of 250 employees) and EUR 400,000 for
non-SMEs (more than 250 employees). (vi) A subsidy for closed non-food retailers
(“VGD”) will be extended in Q1 2021 and increased by 21% on top of the fixed costs
percentage of the TVL, with a maximum compensation of EUR 200,000. (vii) Companies
in the travel sector receive an extra compensation for costs that are not refunded in
case of cancellations. An extra 3.4% is added one-time only to the percentage of fixed
costs and is on top of the TVL subsidy. (viii) Agriculture and horticultural businesses
receive an additional compensation for the special costs to keep plants and animals
alive. This compensation of 21% is added to the percentage of fixed costs and is
provided on top of the TVL subsidy. (ix) There will be a separate subsidy scheme for
entrepreneurs who started their business between 30 September 2019 and 30 June
2020. This is still being worked out and is expected to open for applications in the
second quarter of 2021.
•
The TVL Q1 scheme is available from 15 February 2021 until 30 April 2021. An extra EUR
3.8 billion is made available for the TVL Scheme.
•
Bridge financing is available to start-ups and scale-ups that have been affected by the
Covid-19 outbreak. Since these companies usually do not have banking relationships,
the credit will be provided by Regional Development Agencies (Regionale
Ontwikkelingsmaatschappijen, "ROM"). The loans provided vary between EUR 50,000
and EUR 2 million. For amounts above EUR 250,000, 25% co-financing is expected from
the shareholders or other investors. A uniform interest rate of 3% applies. The
government has made EUR 100 million available to support the start-ups and scale ups
through this scheme. Applications may be submitted via this link.
•
On 29 May 2020, the Dutch government has made EUR 750 million available for SMEs
with a minimum turnover of EUR 50,000 and a financing need of between EUR 10,000
and EUR 50,000. The Dutch government will guarantee 95% of the total amount of the
loan granted by the financier. The loans can be granted by banks and non-banking
accredited financiers and will have an interest rate of maximum 4%. Furthermore, the
SMEs have to pay a one-time premium of 2% as compensation and the bridging loan can
be used for a maximum term of five years. Rabobank, ABN AMRO Bank, ING Bank, de
Volksbank, and Triodos Bank have agreed to offer loans through this scheme. Applying
for this loan is possible until the end of June 2021.
Government measures in key jurisdictions
141
