SME credit guarantee scheme (BMKB)
If you have a business in the Netherlands and employ no more than 250 workers (you have an SME), you may be eligible for a guarantee for part of a loan through the SME credit guarantee scheme (BMKB). The Ministry of Economic Affairs and Climate Policy stands as guarantor. This will enable you to borrow more than would otherwise be possible based on your collateral.
The bank and other possible funders are covered by the government’s SME credit guarantee scheme.
Corona crisis: Extension SME credit guarantee scheme
The SME credit guarantee scheme (BMKB) has been extended (in Dutch) to deal with the economic consequences of the corona crisis:
- Businesses can use the BMKB for a bridging credit, or to increase their overdraft (how much they are allowed to be in the red) on their current account.
- The credit guarantee has been increased from 50% to 75%. This enables banks to extend credit more easily and quickly, and businesses to lend more money faster.
- The BMKB interest percentage is lowered from 3.9% to 2% for a maximum period of 8 quarters and 3% for a period of 9 to 16 quarters.
- The BMKB guarantee budget is increased from €765 million to €1.5 billion.
- Accreditation becomes available to financiers other than banks, to enable them to finance their clients using this extended BMKB scheme.
This measure is also open to agricultural entrepreneurs, including the fisheries and aquaculture sectors, in the Dutch Caribbean.
In the Netherlands agricultural and horticultural entrepreneurs and entrepreneurs in the fisheries and aquaculture sectors can apply to the – also extended – Credit Guarantee Scheme for Agriculture (BL).
PFAS and nitrogen
The government offers extra support within the BMKB scheme to SMEs whose turnover relies for at least 20% on activities affected by the PFAS and nitrogen developments (in Dutch). The government can be guarantor for a larger credit sum. You can make use of this extra support until and including 31 December 2020.
When do you qualify?
To be eligible for the SME credit guarantee scheme, you must fulfil various conditions, including the following:
- Your business is established in the Netherlands, Bonaire, Saba or St. Eustatius.
- Your business has up to 250 FTE employees.
- Your business has an annual revenue of up to €50 million or has a balance sheet total of up to €43 million.
- Your company has been established for over 3 years.
The scheme offers extra opportunities for innovative companies and startups (in Dutch). It is also open to entrepreneurs who want to start businesses in Bonaire, Saba and St. Eustatius.
How to apply?
Entrepreneurs do not apply for the SME Credit Guarantee themselves. They simply apply for a loan from one of the participating banks or other funders (in Dutch), which in turn submits an application for the SME credit guarantee from the Netherlands Enterprise Agency (RVO). A special webportal (partly in Dutch) is available for funders with all relevant information.