Henk Kamp, the Dutch Minister of Economic Affairs, today presents new plans supporting funding opportunities for small and medium-sized enterprises. ABN AMRO is engaged in solid discussions with the Ministry about bank lending to SMEs and helping to design plans to support this particular group of Dutch businesses.
The plan focuses squarely on boosting companies’ equity position, as successive years of weak economic activity have taken their toll on many businesses – making it more difficult for them to secure loans from their banks. The aim is to set up a fund providing subordinated loans, which count towards the bank’s own shareholders’ equity and should help improve SME equity positions.
By expanding Qredits, the plan specifically also targets really small companies. Initially an ABN AMRO initiative, Qredits provides small loans to start-ups and businesses that need only a little funding, for which they often can’t turn to their banks.
And then there’s education. By improving their knowledge and skills, small companies also greatly enhance their chances of securing funding from banks or other financiers. ABN AMRO’s Verder met Financieren (‘Taking funding further’, in Dutch only) has more.
ABN AMRO’s Hans Hanegraaf comments: "Small and medium-sized companies are a key group of customers for us at ABN AMRO. The Ministry’s plan will provide the focused support that these companies so sorely need and should help boost SMEs’ business fundability, a key issue of concern. ABN AMRO is happy to finance SMEs and we definitely have the means to do so."