The loans amount can vary between 50,000 and 250,000 euros
Translated by Thomas Ansell
Start-ups and small businesses in Friesland can, from this week, begin to apply for small stimulus loans from the ‘Business Stimulus Friesland’ fund. The fund is an initiative by the Friese Ontwikkelingsmaatschappij (FOM), and supported by the Province of Friesland and the business association Ynbusiness. As reported by the Omrop Fryslân.
The fund has been launched following various calls for support from Frisian businesses. A number of sectors and types of business have been missed by existing support schemes, or do not fall within their eligibility criteria. “We have noted that lots of businesses are finding it difficult to come by financing, in order to stay financially healthy and/or to invest in their work”, says Dennis Carton, of Ynbusiness.
Small-scale business service companies, the recreational sector, and cafés and restaurants all come under the new scheme, having been identified as key pre-Coronavirus drivers of the Frieisan economy.
The FOM, Ynbusiness, and the Province have bundled together all of their stimulus packages to try and support businesses missed by existing schemes- with the fund being the result of this. The fund is seen as an emergency instrument, intended for all businesses that have seen their income fall as a result of the Coronavirus outbreak.
Businesses with fewer than 50 staff, self-employed people, partnerships; and private companies can all apply for support from the fund, however those in the agricultural sector and the property industry are shut out from the scheme. Those that apply will have to show that their company was in a good financial state before the Coronavirus outbreak, and show plans that will result in its healthy running again in the future.
The fund has a total endowment of 2 million euros, and will run until December 31, 2020. If the initiative is very successful, then a further 2 million euros of funding can be added to the pot. The FOM is handing applications and processing claims- for more information check out their website.
Image via Pickpik. License-free.