Borrowing cheaper for SMEs in Noord-Brabant

Small and medium-sized businesses in Noord-Brabant can count on support from the province and regional banks. 25 million US dollars will be made available for entrepreneurs to borrow money more cheaply. These are subordinated interest-bearing loans of US $ 100,000 to US $ 500,000.

From 1 September last, companies in Noord Brabant can turn to the SME Innovation Fund from which loans are provided. Because the SMEs in Noord-Brabant provide a lot of employment, the province wants to stimulate companies to innovate. For many companies this means borrowing money, something that has become difficult in recent times.

Healthy companies with 5 to 200 employees can qualify for an interest-bearing subordinated loan . The loans have a maximum term of three years and are an interest-only loan for half the term, 1.5 years. In addition to a contribution from the fund, banks will finance at least 50% of the loan, thereby reducing the risk.

Companies can contact the SME Innovation Fund for more information, the loans are provided by the relevant regional banks in Noord-Brabant.

Published September 3, 2009 at 12:13 PM by the editorial team .