Government measures in key jurisdictions 3rd edition final - Flipbook - Page 127
The Netherlands
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A measure is available for SMEs with a maximum of 250 employees that were established
in the Netherlands before 15 March 2020 and are active in sectors which are affected by the
government measures. SMEs can apply for a tax-free allowance to pay fixed costs, which
must amount to at least EUR 4,000 from June until September. Depending on the size of
the SME, the level of the fixed costs and the degree of loss of turnover (at least 30%),
companies can receive a contribution up to a maximum of EUR 50,000 for the months June,
July, August and September. The government has made available EUR 1.4 billion to support
these businesses, who are expected to be employing over 800,000. Application and further
eligibility criteria may be found here.
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Bridge financing is available to start-ups and scale-ups that have been affected by the Covid19 outbreak. Since these companies usually do not have banking relationships, the credit will
be provided by Regional Development Agencies (Regionale Ontwikkelingsmaatschappijen,
"
"). 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.
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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.
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A measure is available for agricultural SMEs that are established in the Netherlands and have
substantial activities in the Netherlands. The Dutch government has decided to temporarily
amend the scheme to provide more financial leeway for agricultural SMEs that run into
difficulties and need working capital and/or liquidity.
The temporary extension is aimed at regular agricultural loans and means that the State
guarantees 70% of the total amount of the loan granted by the financier. This temporary extension
can be used by agricultural SMEs to obtain a bridging loan or an increase in current account credit
from a lender for a maximum term of two years.
On 10 April 2020, the measure has also been extended to include fisheries and aquaculture
companies. Companies within these sectors can make use of the scheme retroactively per 18
March 2020.
Furthermore, the premium for the government guarantee has been decreased from 3% to 1.5%
and from 1% to 0.5% for starters. The eligible companies make an application to the accredited
financier which is usually a bank. The accredited financiers can submit an application to
Rijksdienst voor Ondernemend Nederland. You can find the eligibility criteria and the list of
accredited financiers here.
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The government introduced a scheme with a EUR 650 million budget for the compensation of
damages suffered by specific agricultural sectors as a result of the Covid-19 outbreak.
Businesses in the ornamental horticulture sector and specific sections of food horticulture with a
loss in turnover of at least 30% were compensated for up to 70% of their loss in turnover in March,
April, May and June 2020. The benchmark was the average turnover in the same period in three
preceding years. As of 11 June 2020 only EUR 156 million of the available EUR 600 million was
requested.
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