Deferral of due date for repayment of TOZO aid
One of the elements of the bridging measure for the self-employed which is operated under the TOZO (Temporary Income Support) banner concerns loans being granted to help boost business capital. Under the current TOZO regime business owners would have had to start making repayments towards their loans (and paying interest thereon) from the first of January 2021 onwards. Now that the tenacity of the corona virus has made it impossible for many business owners to meet the above deadline, the Junior Minister for Social Affairs and Employment has most leniently decided to extend the status quo by another six months, resulting in the effective repayment date being pushed back to the first of July 2021 irrespective of whether the TOZO loan(s) in question was (or were) taken out before the first of January 2021 or are yet to be taken out after said date.
In line with the above leniency policy the overall term per TOZO loan has been extended by six months, from 36 to 42 months. No interest is to be charged on the period from January to June 2021 inclusive. The Junior Minister has pointed out that business owners who regard themselves as being in a position financially from the first of January 2021 onwards to start paying interest and making repayments are welcome to do so. All recipients of TOZO loans (including those who start repaying in January 2021) will be eligible for the aforementioned six months’ worth of interest exemption on their TOZO indebtedness.
Dutch version: Uitstel aflossing Tozo-lening