Small Credits for Corona Guarantee Scheme (KKC) ready; New10 opens application procedure
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The Dutch government’s scheme for small coronavirus loans is ready. This is a scheme for small companies that have been impacted by the coronavirus and need a bridge loan of 10 to 50 thousand euros. The loan is approved by the bank and the government will be backing 95% of the loan with a guarantee.
The , the BMKB-C scheme (loans up to 1.5 million euros) and the Go-C scheme (loans of 1.5 to 150 million euros) mean government guaranteed loan schemes are now available for every category. Every scheme is tailored to meet the specific needs of theborrowers in that category.
New10 opens digital application process KKC loans today
ABN AMRO is offering the KKC loan through its subsidiary New10, which specialises in online lending. From today, you can easily apply for loans of 10 to 50 thousand euros throughNew10’s , where you can also find the terms and conditions. The coronavirus loans have a fixed term of five years, of which the first twelve months are redemption free and the maximum interest rate can be up to 4%.
ABN AMRO clients who have already applied for a loan between 10 and 50 thousand euros, or are still in the process, will receive a message from the bank explaining the New10procedure. Loans can be officially offered, signed and paid as soon as the scheme has been officially ratified in Brussels.
Support measures and possibly extra loans
Because the government is offering so many facilities and ABN AMRO offers a six-month deferral of interest and repayment of loans, many clients have said these schemes aresufficient for now and that they don’t need any additional loans. Around 70,000 commercial clients at ABN AMRO have opted for the deferral measure. However, given the impact of coronavirus in some sectors, there are companies that have an immediate need for extra loans in addition to the current measures.
More information on the KKC scheme can be found on the of the Dutch Ministry ofFinance and the NVB’s (Dutch Banker’s Association) .