SME Credit Guarantee: Who Qualifies and What You Get
Learn how the SME Credit Guarantee can help small businesses secure loans even when they lack sufficient collateral.
This scheme provides a government guarantee to help small businesses secure financing when they do not have enough assets to back a loan.
Who it's for
This is designed for small businesses that need to take out a loan but lack the necessary collateral to satisfy a lender's requirements.
What you get
The government provides a guarantee for a portion of your business loan. This reduces the risk for the lender, making it easier for your business to access the credit it needs.
What it costs you
You must apply for this through your bank rather than applying to the government directly. Please note that a fee applies as part of the application process.
The catch to know
Even if you meet all the requirements, the final decision rests with the bank. The bank decides whether or not they want to use this guarantee scheme for your specific loan request.
How to apply
- Speak with your bank to discuss your loan needs.
- Ask the bank if they are willing to use the SME Credit Guarantee for your application.
- Complete the application process as directed by your lender.
- Visit the official portal for more information: https://www.rvo.nl