Entrepreneurs who received a loan under the program tozo, will begin repayment of debts from July 1, 2021, and not from January 1, as previously planned.
Secretary of State for Social Affairs and Employment (Sociale Zaken en Werkgelegenheid) Bass van 't Vout (Bas van 't Wout) noted that private / individual entrepreneurs are going through a very difficult time now, and it is rather difficult to predict the situation for the future. At the beginning of the coronavirus crisis, no one expected it to continue until now. However, these are our realities, and they are not yet amenable to change. Therefore, the Cabinet of Ministers decided to give entrepreneurs some more time.
In addition to the postponement of the start of repayment and the temporary suspension of the accrual of interest, the period during which the loan must be repaid is also extended. Earlier the maturity date of 36 months was announced, but now it has been increased by another 6 months, which will eventually amount to 3,5 years. However, any entrepreneur who wants to pay off the loan faster can do it.
Our reference
*tozo (Tijdelijke Overbruggingsregeling Zelfstandig Ondernemers) - additional income support and working capital loans for private / individual entrepreneurs.
scheme tozo is part of a package of support during the coronavirus crisis and economic and labor market recovery. This temporary scheme is based on the social security system for the self-employed. - bbz (Besluit bijstandverlening zelfstandigen).
tozo valid until July 1, 2021.
Publication Date: 04.02.2021
