SINT MAARTEN (GREAT BAY) - The St. Maarten Chamber of Commerce and Industry (COCI) is urging local businesses and aspiring entrepreneurs to start making the necessary preparations to take advantage of the approved SME Loan Guarantee Scheme (BMKB) available to entrepreneurs in Curaçao, Aruba, and Sint Maarten.
This Guarantee Scheme involves the allocation of €6 million annually by the Dutch government for SME’s development. Through this funding, the aim is to significantly improve access to financing for small and medium-sized enterprises (SMEs) in the Caribbean part of the Kingdom.
The SME-Loan Guarantee Scheme would be administered by the Ministry of Economic Affairs of the Netherlands. It provides guarantees of loans to small and medium-sized enterprises (SMEs), aiming to support businesses in transforming their ideas into profitable new products, services, and processes.
This reduces the risk for the banks, making them more willing to provide credit. The scheme enables businesses to invest, innovate, and create jobs, contributing to their growth and development. This funding is expected to commence in the third quarter of 2025.
COCI emphasizes the importance of ensuring that all necessary requirements are met in order to fully capitalize on this opportunity. Businesses are encouraged to ensure compliance with relevant institutions and financial obligations.
These compliance requirements include, having up-to-date COCI annual fees, having valid and current business license, compliant with social premiums at SZV and, respective tax payment to government is up to date. By ensuring these requirements are met, businesses can position themselves favorably for financial support and expansion.
COCI remains committed to supporting the local business community and will provide further updates and guidance as more details on the program become available. Businesses are encouraged to stay informed and proactive in their preparations to benefit from this significant funding opportunity.
For further information, business owners can contact COCI or visit its official website.
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