In a significant move to strengthen the business climate in the Dutch Caribbean, the Dutch Council of Ministers has approved the extension of the SME Credit Guarantee Scheme (BMKB) to entrepreneurs in Aruba, Curaçao, and Sint Maarten. This decision, proposed by Minister Beljaarts of Economic Affairs and State Secretary Szabó (Digitalization and Kingdom Relations), will improve access to financing for businesses in the region, fostering economic resilience and growth.
What is the BMKB Scheme?
The BMKB (Borgstelling MKB-kredieten) is a financing support mechanism provided by the Dutch Ministry of Economic Affairs. The scheme helps small and medium-sized enterprises (SMEs) secure financing by offering partial guarantees on loans, thereby reducing the risk for financial institutions. This initiative has proven to be a vital tool in strengthening businesses in the Netherlands, and its introduction to Aruba marks a milestone for the local economy.
A Game Changer for Aruba’s Business Sector
Entrepreneurs in Aruba often face challenges in securing investment capital, limiting their potential for expansion and innovation. With the BMKB scheme set to launch in September 2025, local businesses will have greater opportunities to access credit through local financial institutions. This will particularly benefit startups and SMEs looking to scale their operations or invest in new ventures.
State Secretary Szabó emphasized the importance of this initiative, stating: “It is often difficult for SMEs in the Dutch Caribbean to secure the necessary funding for growth. We hope that financial institutions on the islands will embrace this opportunity and offer the scheme to local businesses, as is much needed.”
How Will It Work?
- The BMKB scheme will be available to financial institutions in Aruba starting in September 2025.
- Entrepreneurs can apply for loans with reduced collateral requirements, as the Dutch government will partially guarantee the financing.
- Financial institutions interested in participating can apply for the guarantee through the Netherlands Enterprise Agency (Rijksdienst voor Ondernemend Nederland, RVO).
Next Steps for Entrepreneurs
With the Dutch government’s approval secured, a consultation for the BMKB scheme will begin in February 2025. The governments of Aruba, Curaçao, and Sint Maarten will then be asked to formally adopt the scheme.
Local business owners and investors should stay informed on updates regarding the scheme’s rollout. The Aruba Investment Agency (ARINA) is committed to guiding entrepreneurs through the process and ensuring they maximize this opportunity for business development. Contact us today!
