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Working Capital Loan for Self-Employed in Amsterdam

Interest-free working capital loan for Amsterdam zzp'ers via Municipality of Amsterdam's Bbz scheme. Working capital in financial need, max €20,000. (118 characters)

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Working Capital Loan for Self-Employed in Amsterdam

A working capital loan for self-employed in Amsterdam falls under the Bbz scheme (Decree on Assistance for Self-Employed Persons 2004). This provides self-employed professionals (zzp'ers) and entrepreneurs with an interest-free loan for working capital, ideal in a vibrant city like Amsterdam where many self-employed struggle with liquid funds for inventory or daily expenses. The Municipality of Amsterdam provides this loan, with deferral of repayment until your finances improve.

What does a working capital loan for self-employed in Amsterdam entail?

This working capital loan for self-employed targets Amsterdam-based zzp'ers and self-employed individuals in financial distress. Unlike commercial bank loans, it is a form of social assistance for entrepreneurs. The capital covers essential expenses such as material purchases, supplier payments, or staff costs. The maximum amount is twice the monthly welfare benefit for a single person, depending on your personal situation.

It forms part of the Bbz and builds on the general Bbz assistance for self-employed. Unlike a starter loan for startup investments, this focuses on ongoing working capital.

Legal basis

The working capital loan for self-employed in Amsterdam is laid down in the Decree on Assistance for Self-Employed Persons 2004 (Bbz 2004). Relevant articles include:

  • Article 11 Bbz 2004: Provides working capital as an interest-free loan.
  • Article 12 Bbz 2004: Requirements for approval, such as proof that the business will fail without the loan.
  • Article 18 Bbz 2004: Repayment rules in case of exceeding the hours criterion or business closure.

The Participation Act (Article 45 et seq.) integrates the Bbz as special assistance. The Municipality of Amsterdam implements this through local Bbz policy rules, tailored specifically to the Amsterdam entrepreneurial market.

Eligibility conditions in Amsterdam

For a working capital loan for self-employed from the Municipality of Amsterdam, strict requirements apply:

  1. You meet the Bbz definition of self-employed: at least 1,225 hours per year (hours criterion).
  2. Your income remains below the income threshold (100-150% of the welfare norm).
  3. Bank financing is unavailable (provide rejection letters).
  4. Your business demonstrates viable continuity via a business scan.
  5. You are a resident of Amsterdam and meet welfare conditions.

Practical example: As an Amsterdam graphic designer with declining commissions due to economic pressure, you apply for €5,000 for software and marketing. After reviewing invoices and forecasts, the Municipality of Amsterdam approves €4,000.

Rights and obligations

Your rights in Amsterdam

  • Interest-free loan up to max. €20,000 (per Municipality of Amsterdam policy).
  • No repayment required as long as income is below the threshold.
  • Objection with the Municipality of Amsterdam and appeal to the Amsterdam District Court if rejected.

Your obligations

  • Report monthly on the use of funds.
  • Repay upon business closure, income increase, or sale of assets.
  • Make accounting records available for inspection by the Municipality of Amsterdam.

Comparison with other options

TypeInterestRepaymentConditions
Bbz Working Capital Loan AmsterdamInterest-freeConditionalIncome test and hours
Bank credit4-8%FixedBKR and collateral
Qredits1-2%FixedTraining required
BMKB microcreditVariableFixedGovernment guarantee

Application procedure with the Municipality of Amsterdam

  1. Make an appointment with the Municipality of Amsterdam, Work and Income department.
  2. Submit: KvK extract, annual accounts, forecast, bank rejections.
  3. Undergo business advisory (external scan).
  4. Decision within 8 weeks; otherwise, follow up.
  5. In case of shortfalls: supplementary assistance possible. Contact the Amsterdam Legal Aid Office for free advice.

Practical example: An Amsterdam baker applies for a loan for advance supplier payments. After a positive scan, he receives €6,000, crucial for the busy period.

Frequently asked questions

Can I get a working capital loan as a starter in Amsterdam?

No, starters qualify for Bbz starter loan (Article 10 Bbz) for startup investments, not working capital.

What if I can't repay?

The Municipality of Amsterdam may grant deferral in case of issues. In fraud or closure, it is offset against benefits. Call the Amsterdam Legal Aid Office for help.

Does it differ per municipality?

Yes, check Bbz policy rules on amsterdam.nl or call the Amsterdam Legal Aid Office.