Small businesses get more credit subsidy
Monday 29 August 2011
The budget to guarantee credit for small and medium-sized businesses having difficulty getting bank loans is to be raised, economic affairs minister Maxime Verhagen said on Sunday in an interview with news website nu.nl.
The budget will be raised from €765m to €1bn, he said.
In addition, the temporary guarantee fund for large businesses will be extended. This fund of €600m was due to stop at the end of 2011.
'Credit for good business plans is what oils the wheels of our economy,' Verhagen told nu.nl. 'The government can remove banks' fears by guaranteeing part of the loan.'
In June, the minister said this budget was almost spent because so many businesses needed a loan guarantee and he was applying to the European investment fund for extra money.
© DutchNews.nl
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