The GO-facility (in Dutch: “Garantie Ondernemingsfinanciering”) is an existing finance facility under government guarantee, which is extended by the government in order to bridge the financial consequences of the Covid-19 crisis.
The extended version is named GO-C-facility and the budget of the GO en GO-C-facility for 2020 jointly amount to EUR 10 billion.
The extension of the GO-C facility consists of:
- increase of government guarantee from 50% to 80% for large companies and to 90% for mid-sized companies;
- applicable for loans between EUR 1,5 million up to EUR 150 million;
- term of the loan max. 6 years;
- applications can be submitted no later than 15 December next before 17.00 CET.
“Mid-sized companies” are defined as companies with:
- 50 up to max 250 FTE;
- Annual turnover between EUR 10 million to EUR 50 million or a total balance sheet between EUR 10 million to EUR 43 million.
"Large companies” are those which exceeds the criteria of the Mid-sized companies.
Only companies which were profitable before the Covid-19 crisis can make a request under the facility by submitting a finance application at its bank. After approving the application, the bank has to forward the application to RVO (Rijksdienst voor Ondernemend Nederland), which will decide whether the GO-C-facilty can be awarded. Agricultural companies, real estate companies as well as certain health companies are excluded from the facility. Agricultural companies can apply for specific facilities under government guarantee.