Finance & Invest.brussels will play an important role in the recovery of the Brussels economy and will receive an injection of 160 million euros for this purpose. Two thirds of this will be made available by the Region over the next four years at a rate of 26.4 million a year. In addition, an additional amount of 40 million euros will be made available, specifically for the badly affected catering sector. Not only restaurants, cafés and their suppliers, but also hotels will be supported with loans at low interest rates to be repaid within five years.
In addition, the Brussels government has agreed on the following additional support measures:
- Early commitment and liquidation of the economic expansion aid, for any sector of activity. A similar measure had already been taken previously, aimed only at the hotel and catering, tourism, culture and events sector.
- Mobilise private savings by means of a "proxi loan" (EUR 1 million) to finance SMEs by means of a tax credit on one or more loans granted to an SME by a Brussels resident.
- Support for the activities of cooperatives and Smart (EUR 2 million): the Government will grant a loan at reduced interest rates to salaried entrepreneurs in the activity cooperatives on the basis of an agreement between Finance&invest and the cooperative in question. These wage earners are not eligible for the traditional premiums because they do not have their own VAT number.
- Granting of micro-cash loans for the self-employed and SEEs: it was decided to strengthen micro-credits through BRUSOC with the granting of cash loans of up to 15,000 euros at a limited rate, intended for the self-employed, SEEs and social economy organisations.
- Public support for the operation of microcredit institutions will be increased (€500,000) so that they can grant loans at a limited rate to strengthen the working capital of micro-entrepreneurs who are restarting their activities.
Last update: 07/05/2020