Key features of the loan
- Loan of €50,000 to €200,000 toward recovery of the company after the Covid-19 crisis.
- Short-term loan to bridge to cash flow positive or follow-on funding.
- First year no payment obligation, then monthly interest payment and repayment.
- Smooth handling.
- Standard documentation.
- There is a budget of 8.5 million euros and applications will be considered in order of receipt.
Why NOM?
Whether you need to bridge a difficult period, start, grow or innovate, NOM is ready for entrepreneurs who lack the financial resources for a flying start or to take the next step. We will gladly sit down with you to realize your plans.
Our vision is to make Enterprises grow, and we stand beside you on this growth path. Through funding, but also by sharing our network or offering programs that allow you to achieve that growth.
To qualify for a Corona Recovery Loan, the following criteria apply:
- Your business is a legal entity.
- Your company is innovative*
- Your company is located in one of the 3 northern provinces; Drenthe, Friesland, Groningen.
- You have an enterprise with a viable business case and commercial potential (not pure loss funding).
- Your company is active in one of the following sectors: AgriFood, Water Technology, HTSM, LifeScience and Health, (Green) Chemistry, Energy, IT.*
- Your company must operate within at least one of the following themes: More Sustainable, Healthier or Smarter.*
- Your company has a liquidity problem demonstrably due to the Covid-19 crisis.
- Your company has funding needs in the form of working capital and investments for the purpose of business recovery.
* These criteria do not apply to companies that have received a Corona Bridging Loan (COL).
You can easily apply for a Corona Recovery Loan online.
- Complete the digital application form.
- Upon receipt, we will review your application. We may contact you by mail or phone for additional information.
- If this initial assessment is positive, we will schedule an introductory meeting with one of our loan specialists. They will take a closer look at your plans.
- A final decision on the provision of funding is then made by the relevant NOM sector team.
- Contracts are signed and money is deposited.
- We aim to provide clarity on granting your application within four weeks.
- Business Plan
- Financial statements (2019, 2020 and 2021).
- Forecasts (balance sheet, P&L, cash flow per month, investment budget - all for the next 3 years 2022-2024)
- Current financial statement (balance sheet and profit and loss statement this year to date)
- CVs entrepreneur(s)
- Organization Chart
- Agreements with current funders
- Loan.
- Repayment and interest are collected by direct debit, monthly.
- The interest rate is determined per company (based on our methodology and your credit rating), where collateral can have a positive effect on the rate.
- The first year is interest only, after that repayment in 2 years.
- If 2 installments are not paid without consultation, NOM has the right to convert to shares at face value.
- No increase in management fee, other than in accordance with business plan, without permission NOM.
- NOM may make disclosures regarding its financial commitment to the company.
- Joint and several liability affiliates.
- Shareholders also sign for agreement funding and do not sell their shares in the company without permission NOM.
- Submit quarterly financial information within 4 weeks of end of quarter, annual financial statements and budget.
- Guarantee that supplied information is accurate and complete
- Final contracts from co-funders
- Account numbers
- Shareholder register of your company and shareholders
- Articles of association of your company
- Management Agreement