All support measures to help companies at a glance
- Products and services
The restrictions currently imposed by the Dutch government to curtail the coronavirus are having a major impact on the country’s economy – and its companies. ABN AMRO is liaising closely with other banks, government authorities, employers’ organisations and regulators to offer what assistance it can. Read on to find out what measures and facilities ABN AMRO currently has in place to assist its commercial clients:
Automatic six-month deferment of interest and repayments
For almost all businesses with a commercial credit facility of up to EUR 50 million, ABN AMRO is offering six months’ deferment of interest payments and repayments on their loans. This has been arranged automatically, except where individual companies have indicated that they do not need it. In total around 70,000 companies are making use of this arrangement, which offers clients peace of mind and time to plan what they need to do to survive the coronavirus crisis.
BMK and GO loans
Some companies require more liquidity, however, despite the breathing space offered by the deferment and on top of the various government measures. Sectors that are suffering more than most are particularly likely to need more liquidity. Companies in those sectors can apply for a loan with their banks under the SME Credit Guarantee (BMKB) scheme: government-guaranteed loans with a principal of up to EUR 1.5 million. Another facility that will become available shortly is the Corporate Finance Guarantee (GO) scheme, which provides government-guaranteed loans in excess EUR 1.5 million.
For self-employed workers and flex workers: three months’ deferment for mortgage repayments and interest payments
Flex workers and self-employed workers can apply for 3 months’ deferment of the interest and principal payments on their ABN AMRO mortgages.
Sector analyses
Lastly, ABN AMRO is mapping out in as much detail as possible how the coronavirus measures are impacting individual sectors and what the future scenarios are. It is sharing that information with commercial clients to enable them to decide their course of action based on the most accurate information available.