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General

FASTON stands for “Faciliteit Startende Ondernemers”, i.e. Facility for Starting Entrepreneurs. This arrangement is intended to strengthen the equity position of a starting business, so that a money lending institution can grant a loan.

A starting entrepreneur is understood to be an entrepreneur who undertakes a new activity for his own account and risk. For the purpose of excluding marginal activities, an additional criterion is that a minimum of 15 hours per week should be dedicated to the business.

If a starting entrepreneur has insufficient funds of his own to obtain a credit facility, he/she can then appeal to the FASTON arrangement. Under this arrangement it is possible, subject to conditions, to be granted a donation for the purpose of increasing equity, so that in that way the required financing can still be obtained.

Terms and conditions

For each new initiative an amount can be donated to strengthen the equity of the entrepreneur, up to a maximum of NAƒ 15,000.-. However, the entrepreneur should first contribute at least 10% of the total project investments(= loan amount + equity) with a minimum of NAƒ 2,000.-. With regard to the excess, in the absence of further equity, a maximum of 25% of the required investment amount will be donated, up to a maximum of NAƒ 15,000.- per initiative.

Course

The donation to supplement the equity may be made conditional on taking a course aimed at entrepreneurship.