Doing business on Bonaire, St. Eustatius or Saba

The Ministry of Economic Affairs and Climate Policy, in cooperation with the local chambers of commerce and locally operating banks, improves the availability of capital to entrepreneurs on Bonaire, St. Eustatius and Saba through microfinance.

Microfinance means coaching and credit up to 44,000 dollars (35,000 Euro). Microfinance promotes business and helps to improve the quality of entrepreneurship. Since January 2012, banks in the Caribbean Netherlands have been able to grant their microcredit loans under the government-guaranteed scheme for loans to small- and medium-sized enterprises (BMKB).

The banks taking part in this initiative ultimately decide whether or not the credit will be granted, in the same way as normal credit. So it is very important that you as (new) entrepreneur should be well prepared before you apply for such credit. The Chamber of Commerce can help you in this respect.

How to apply

Entrepreneurs who wish to be considered for microfinance may apply to the Bonaire Chamber of Commerce. The Chamber of Commerce will provide consultancy and coaching. The consultancy component is the programme followed by the entrepreneur before starting up their business. Coaching starts after the start-up of the business. Coaching is partially provided by the Chamber of Commerce and partially outsourced to external agencies, with the Chamber of Commerce playing a mediating role.

More information is available on the website of the Bonaire Chamber of Commerce. On St. Eustatius and Saba, preparations are under way to realise such a structure. Further details on this will soon be published on the websites of those chambers and also on the site of the National Office for the Caribbean Netherlands.

Entrepreneurs who want to start businesses in the Netherlands, Bonaire, St. Eustatius or Saba can take advantage of the SME government-guaranteed loan scheme (BMKB). You can use this scheme if you want to take out a loan but do not have sufficient collateral for the bank.

The Dutch government guarantees sums up to 1,5 million Euro through the BMKB. The bank will be more willing to provide a loan if that loan is partially guaranteed by the government. Are you interested? In that case, contact one of the participating financial institutions (information in Dutch).

Do you want to attract venture capital so you can expand your business to Bonaire, St. Eustatius or Saba? This will strengthen your financial base and improve your chances of attracting foreign investment. Yet getting good finance often proves to be more difficult than expected. Financiers are reluctant to lend; often they think the risk is too great.

It is the policy of the Dutch government that there should be financing for good plans. That is why the Ministry of Economic Affairs and Climate Policy has created the Growth Facilty. A guarantee scheme that can help financial institutions to supply financing to entrepreneurs.

You can approach your bank or venture-capital company in the Caribbean Netherlands. At present there are still no local banks or venture-capital companies taking part in the Growth Facility.

This application is closed.

You want to extend your business to Bonaire, St. Eustatius or Saba and you need a loan for that purpose? Through the GO scheme, the government can guarantee up to 75 million Euro.

The Ministry of Economic Affairs and the Dutch banks have joined forces to fight the negative consequences of the credit crisis. One of the measures they have implemented is the Garantie Ondernemingsfinanciering (Corporate Finance Guarantee, GO), a facility designed for large and mediumsized businesses affected by the crisis. A 50% state guarantee makes it easier for banks to provide substantial loans to businesses.

Since the government guarantees part of the loan, the banks will be more willing to grant the rest. You can approach your bank in the Caribbean Netherlands. At present there are still no local banks taking part in the GO.