WILLEMSTAD - There is 3.5 million guilders available to finance micro, small and medium-sized companies. The credit facilities are intended for small businesses that have adhered to the precautionary measures taken by the government to prevent an outbreak of Covid-19 disease in Curaçao.

The funding applications are processed through the online support center “Mi Negoshi” (My Business) of the Ministry of Economic Development (MEO). "It's at the heart of our economy," says the Minister of Economic Development Giselle Mc William.

The amount of 3.5 million guilders for emergency support to micro, small and medium-sized enterprises that are in trouble is available thanks to development bank Obna and Korpodeko. Mc William: "The intention is to increase the amount to 40 million guilders."

Aid to micro, small and medium-sized enterprises is one of the proposals of the Emergency Fund Commission Covid-19. Companies in the most severely affected sectors can use a credit facility of up to 100,000 guilders. Employers who have seen their company's revenues decrease by more than 25 percent receive financial assistance through the Employment Bridging Emergency Scheme (NOW) to cover 20 to 80 percent of labor costs monthly.

But on condition that permanent employees are not fired. Because the basic principle of the government's solidarity package is that mass dismissal of employees will be prevented in the next three months at least. Small business owners and entrepreneurs without staff receive 1,335 guilders per month, but the priority is with those who received the hardest blows, such as public transport, retail, and entertainment.

Minister Mc William notes that most financial institutions cater to their customers in times of crisis and are more flexible in terms of loan repayments. But the minister is also concerned because not all banks follow that policy and give customers more room to pay off their debt.

Mc William thinks it is immoral "that an institution now makes money on top of the pain that people suffer." "If someone has lost his job, it is only human to adjust the payment arrangement." Mc William calls on the banking association to take action if it turns out that a financial institution is not in solidarity.