Corona Recovery Loan

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