Hitachi Capital (UK) PLC’s European Vendor Solutions division is one of only a small number of companies approved to support businesses in the Netherlands impacted by Covid-19 under a new emergency Government-backed loan scheme.
The SME credit guarantee scheme (BMKB-C), similar to the Coronavirus Business Interruption Loan Scheme (CBILS) funding for UK firms, offers loans with a 75% credit guarantee from the Dutch Government to SMEs (with up to 250 full time employees) that have been heavily impacted by the global pandemic.
Hitachi Capital European Vendor Solutions has joined a select group of accredited providers of BMKB-C loan facilities and will now be open to its existing Dutch customers with immediate effect.
The support for SMEs in the Netherlands through the BMKB-C loan facility to alleviate the impact of COVID-19, follows Hitachi Capital UK’s support for UK businesses. Hitachi Capital UK’s Business Finance division, the first asset finance provider to partner with the British Business Bank to offer the Coronavirus Business Interruption Loan Scheme (CBILS), has provided more than £98 million of additional funding to UK SMEs to date.
Dilek Mackenzie, Managing Director, Hitachi Capital European Vendor Solutions, said:
“Hitachi Capital European Vendor Solutions is delighted to receive BMKB-C accreditation to help our existing customers in the Netherlands acquire credit at a time when many have experienced difficulties due to the pandemic.
“I am proud of how quickly we have worked together to meet the high standards of the BMKB-C accreditation in order to be one of only a handful of lenders approved to support the scheme.
“Hitachi Capital UK has a long and distinguished record of providing innovative finance solutions to help businesses achieve growth. This agreement enables us to replicate the success we’ve seen supporting UK-based businesses through the Coronavirus Business Interruption Loan Scheme and increase our lending capabilities in the Netherlands and other European markets.
“We strongly believe that this will give us the opportunity to provide an effective lifeline to eligible businesses across the Netherlands that have experienced difficulties due to the pandemic.”
Hitachi Capital European Vendor Solutions work with vendors and their distribution networks across Europe to help manage working capital and meet the financing needs of their customers.
Businesses based in the Netherlands can check their eligibility and find further details at www.rvo.nl.