What does the SOL look like?
You can apply between June 3 and October 31, 2020. It is redemption and interest-free until December 31, 2020. After that, a monthly collection will be made for the repayment during 24 months. The interest is 5% on the outstanding amount that is still there on December 31, 2020. Since it is a personal account, you are liable for the refund. The payment of the loan is made on the basis of an upfront payment to a maximum of 50%. The remaining amount will be paid after consultation of expenditure certificates, also known as copies. If you want to pay off in between, this can be done without penalty. In addition, interest will only be charged on the withdrawn amount from 1 January 2021.
Providing supporting documents
Proof of any expenditure must be submitted. That is why one of the conditions is that we must receive all proof of the expenditure of the entire loan by 15 December 2020. If we miss supporting documents or if the loan has not been fully used, the amount that has not been invested in the startup must be refunded immediately. If this is not met, the loan is immediately due and claimable.