Suspension of repayments of bank loans
23 maart 2020 | Door: Bas van Loo
Enterprises with a bank financing of up to € 2.5 million may be granted a suspension of repayments of loans for a period of six months. The measures taken by the ECB, DNB and the government seem to have a significant impact.
The biggest banks of the Netherlands, i.e. ABN Amro, ING, Rabobank, de Volksbank and Triodos, have decided to meet the needs of SMEs. Smaller enterprises with a financing of up to € 2.5 million may be granted a suspension of repayment of loans for a period of six months. In order to be eligible for this measure, the enterprises must be healthy in essence. The exact manner in which this will be assessed is as yet unclear.
The banks can offer this because buffers for tackling crises such as this one have been built up in the past few years. Both the European Central Bank and De Nederlandsche Bank offer the space to use these buffers to put the financing of SMEs back on track.
What can I do?
Start by drawing up a cashflow forecast to assess whether a suspension of repayments may eliminate the liquidity deficit. An extension of the existing credit margin may also be one of the options.
You can turn to your own main bank for a suspension of repayments or an extension of the credit margin. Each bank has its own policy for the suspension of repayments, so contact your own account manager at the bank for this purpose or submit a request through the following links:
- ABN Amro (only report if a suspension is not required)
- ING Bank (application can be made through Mijn ING Zakelijk)
- Rabobank (application form)
- de Volksbank
Of course, you can also contact your own adviser at Alfa for drawing up a cashflow forecast or assistance with the application for financing.