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Do you have an SME in the Netherlands? And do you need financing, for instance to expand your business, for a takeover, to reorganise or restructure? You may be eligible for the Growth Facility Scheme (Regeling Groeifaciliteit, in Dutch), which makes it easier for SMEs to raise capital.
Under the scheme, financiers who provide venture capital to SMEs receive a guarantee. If an SME incurs a loss on the investment, they can reclaim 50% of that loss. The guarantee applies to, for instance, losses incurred on the sale of shares, the writing off of a loan, or bankruptcy. The term of the guarantee is a maximum of 12 years.
Extension due to corona crisis
The Growth Facility Scheme has been extended to 1 July 2023 as a result of the corona crisis. The scheme was supposed to end on 1 July 2020.
When do you qualify?
To qualify for this scheme as an entrepreneur conditions apply, such as:
- Your business is established in the Netherlands, Bonaire, Sint Eustatius or Saba and its commercial activities are conducted there.
- The business plan outlines reasonable profitability and continuity prospects.
- You cannot use the funds to pay off existing loans (‘fresh money requirement').
- The funds are meant solely for financing your own business activities or takeovers.
- There have been no excessive capital withdrawals in the last 12 months.
How to apply?
SMEs can apply to participating banks or venture capital companies (in Dutch). Financiers can contact the Netherlands Enterprise Agency if they wish to take part in the Growth Facility Scheme.