Saturday, 29 October 2020 7:29 PM

The Innovation Fund for SMEs offers entrepreneurs a chance in times of crisis

Borrowing money remains a difficult matter for a small entrepreneur. This year, this problem has only gotten worse, according to the conclusions of MKB-Nederland, the umbrella organization of medium-sized and small companies. Many banks are suffering from the European crisis and are therefore extremely cautious about taking risks. When SMEs approach a bank with a plan for which they want financing, they often run into a closed door. That was different a few years ago, when banks helped entrepreneurs by actively thinking along.

A new fund of five hundred million US dollars, the Innovation Fund for SMEs, was set up a few months ago to give entrepreneurs a boost. This makes it easier for entrepreneurs to obtain the necessary capital to develop new products or services. The money pot is intended for small and medium-sized companies belonging to the sectors of energy, high-tech, life sciences, logistics, horticulture, water, head offices, food, chemicals and creative industry. Industries with which the Netherlands wants to break through in order to belong to the top of the world. The application for a loan from the Innovation Fund for SMEs mainly goes through the bank. One of the fund's credit rating agencies then checks whether the subordinated loan can be provided.

 


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