The Cabinet is increasing the second tranche of the Corona Bridge Loan (COL) by €50 million to €200 million. The cabinet announced this yesterday. Especially for startups, scale-ups and innovative SMEs affected by COVID-19, the Corona-OverbruggingsLening (COL) was created. Earlier, €100 million was granted and that amount is now being supplemented by €200 million. With this, the government is responding to the large funding needs of these companies.
Yesterday, the ROMs announced that applications for the Corona Bridge Loan (COL) continue to pour in. As of April 29, 1,507 startups, scale-ups and innovative SMEs have applied for a COL. These companies have applied for a total of €540 million. Meanwhile, 311 applications have been approved for over €100 million. Companies can apply through the COL from €50,000 and take advantage of favorable conditions. The regional development companies provide the loans.
The Corona-OverbruggingsLening (COL) is an emergency loan for innovative entrepreneurs and SMEs without a bank credit relationship who have run into financial difficulties due to Covid19. This scheme was created in intensive cooperation between the Ministry of Economic Affairs and Climate (EZK), the joint Regional Development Companies (ROMs) and TechLeap.nl with also close involvement of Invest-NL. At the request of EZK, the ROMs provide bridging loans between €50,000 and €2 million.