Over 600 start-ups and scale-ups received Corona bridging loan

From 29 April to 1 July 2020, over 600 start-ups, scale-ups and innovative SMEs received a Corona Bridging Loan (COL) for an expected total amount of € 217 million. This appears from an interim report by Techleap.nl that manages and analyses the COL portal. The Corona Bridging Loan (COL) is an emergency loan made available by the Dutch Ministry of Economic Affairs and Climate Policy for innovative entrepreneurs and SMEs without a bank credit relationship that have run into financial difficulties due to COVID-19. A majority of the companies that received a COL loan are enterprises that are already in a scale-up phase and/or already have an investor on board. It therefore primarily concerns companies with a proven innovation and a sustainable business model. Companies in the High-tech, Med-tech and Life Sciences sectors were most often allocated a bridging loan.