Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure NL-2020-12/827 – Updated – measures in Netherlands
|Country||Netherlands , applies nationwide|
|Time period||Temporary, 16 March 2020 – 30 June 2022|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Amber van der Graaf (Panteia)|
|Measure added||07 May 2020 (updated 23 March 2022)|
The SME credit guarantee scheme (BMKB) was initially created to support SMEs affected by more stringent environmental legislation with regards to PFAS and nitrogren.
In light of the COVID-19 crisis, the scheme has been temporarily expanded to SMEs grappling with the economic consequences of the outbreak. The aim is to keep businesses afloat by providing more government guaranteed credit.
The scheme was introduced and expanded by the national government, which informed the Parliament on 12 March 2020.
The measure ensures better access to finance for SMEs by means of a government credit guarantee. It is available for companies, including self-employed without employees, at least three years old with a maximum of 250 employees, an annual turnover of up to €50 million or assets up to €43 million.
Previously, up to 50% of credit was guaranteed by the government and this has now been increased to 75%. Also, the duration of the credit has been increased to four years and the test for eligibility has been relaxed. Finally, the interest rate has been decreased from 3.9% to 2%.
The following updates to this measure have been made after it came into effect.
|03 February 2022||
The BMKB has been extended until 30 June 2022. Companies with a credit need up to €266,667 can finance three quarters with BMKB credit, otherwise the limit is a maximum of half of the credit. Furthermore, the maximum of the BMKB credit has temporarily been increased from €1 million to €1.5 million. A government guarantee of 90% applies to the BMKB credit.
Based on Central Statistics Office data, 4,110 companies used this measure as of 31 May 2021, with a total of €524 million pledged (CBS, 2021).
|Does not apply to workers||
|Does not apply to citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Form||Consultation through tripartite or bipartite social dialogue bodies||Consultation through tripartite or bipartite social dialogue bodies|
Social partners' role in the implementation, monitoring and assessment phase:
Since the outbreak of the Corona crisis, the government has had regular and close consultation with the social partners. Together the national level social partners and the government arrived at the first and second packages of emergency measures, announced on 17 March and on 20 May respectively.
No information available.
Eurofound (2020), SME credit guarantee scheme (BMKB), measure NL-2020-12/827 (measures in Netherlands), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/NL-2020-12_827.html
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