Corona relaunch credit for SMEs (TOA credit)

Do you own an SME which is in trouble because of the corona crisis? And is it hard for you to secure a loan? You may be eligible for a Corona relaunch credit for SMEs, TOA credit (Corona-doorstartkrediet voor mkb-bedrijven, TOA krediet).

You can loan up to in €100,000 working capital on favourable terms. This way you can restart, adjust, or expand your company’s activities. In total an amount of €200 million is available for this measure.

Who can apply?

This scheme is part of the Time-Out Arrangement (TOA) and is meant for SMEs that make use of the Homologation private agreement in bankruptcy Act (Wet Homologatie Onderhands Akkoord, WHOA). The main conditions for the loan are:

• Your company’s activities are fundamentally profitable.
• You have made arrangements with your creditors.

It is possible to issue a part of this credit as a subordinated loan. This means part (at most 30%) of the credit is subordinated to other financers. You may then be able to raise additional funds more easily. For more information on this you should contact Qredits (in Dutch).

If you want to apply you will need to provide:

• a WHOA starting declaration
• a restructuring plan including a statement on the financial viability
• your arrangement(s) with your creditors
• you must give insight into your private financial situation (through either your income tax return or personal budget)

How to apply?

You can apply for a Corona relaunch credit for SMEs (TOA Krediet) to Qredits from 1 June 2021 until and including 31 May 2024.