More than 1,500 companies apply for a total of €540 million for Corona-OverbruggingsLening (COL)

More than 1,500 companies apply for a total of €540 million for Corona-OverbruggingsLening (COL)

Rutger Huizenga

Thursday, May 28, 2020

On Wednesday 20 May, the government announced that, in addition to an earlier tranche of € 100 million, another € 150 million will become available for start-ups, scale-ups and innovative SMEs. Given a large number of applications, there is a great need for this. Companies can apply via the COL from € 50,000 and make use of favourable conditions. The regional development companies provide loans.

 

AppThis Group from Enschede was the first company to receive a COL in the East of the Netherlands. "We use the loan to fill in the fallen turnover and for the latest product adjustments in connection with the 1.5-meter conditions at our customers," says Arjan Zwarteveen who runs the company together with Andreas Weber.

Players from Delft also received a COL. Founder and CEO Josefien Groot: "The COL fits perfectly with the kind of company we are. An innovative startup with high costs compared to the income. Thanks to the COL we can complete our product development and put it on the market on time".

 

More information about the COL applications so far

Almost three-quarters of the applications are for smaller tickets up to € 250,000. However, the 23% scale-ups that made a COL application account for about half of the total requested amount of € 540 million. All applicants together represent more than 15.000 jobs.

More than a third of the innovative companies that have applied are active in the field of soft tech (platform, SaaS, AI), but there are also many applications from the fields of Medtech, life sciences, cleantech and high-tech.

 

About COL

The Corona-OverbruggingsLening (COL) is an emergency loan for innovative entrepreneurs and SMEs without a bank credit relationship who have run into financial difficulties because of Covid19. This scheme was established in close cooperation between the Ministry of Economic Affairs and Climate Change (EZK), the joint Regional Development Agencies (ROMs) and TechLeap.nl, also with the close involvement of Invest-NL. At the request of EZK, the ROMs provide bridging loans between € 50,000 and € 2 million.  

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