The Bridging Loan can still be applied for until December 15, 2022 at noon, unless budget funds are exhausted earlier.
The bridge loan was made by the Flemish government created during the corona crisis to support companies in their acute cash flow problems. This measure was extended in response to the war in Ukraine and can now be used for companies experiencing liquidity problems due to the energy crisis. It involves loans with an interest rate of 1.5% and the maximum amount of credit was increased to 750,000 EUR for companies up to 250 employees regardless of the sector. Loans up to EUR 50,000 have a term of 24 months and amounts above that are 36 months. No repayments have to be made during the first 12 months.
In addition, companies that difficulties are experiencing due to the energy crisis their contact at the bank However, there is no legal framework here. For each case, we examine what tailor-made solution can be offered to support the company during this difficult period.
Sowalfin supports the Walloon SMEs through their existing banking solutions. Through their Prêt ProPulsion, Sowalfin grants subordinated credits to finance working capital needs. The term of this credit is up to 10 years. Besides this, Sowalfin has other products running such as Prêt Invests Wallons, Prêt Easy'Up, Prêt Sowalfin etc.
SRIW provides a solution for large companies affected by the Ukraine crisis and in need of working capital or new investments. Affected companies can turn to SRIW for 6-year credits on the one hand and guarantees to cover bank credits on the other. Additional information can be found on the website of SRIW.
In addition, companies that are experiencing difficulties due to the energy crisis can approach their contact person at the bank to discuss possible modalities of current credits, although this lacks a legal framework. For each case, we examine what tailor-made solution can be offered to support the company during this difficult period.
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