The Belgian Minister of Finance, the National Bank of Belgium and Febelfin (the Belgian federation for the financial sector) have reached an agreement on the measures to help companies cope with the coronavirus crisis.
This has been set down in the ‘business loan repayment holiday scheme’ and means that banks will in certain cases defer loan repayments.
In the meantime, this measure has been extended.
Companies that have not yet requested a repayment holiday have until 20 September 2020 to apply for one that lasts until 31 December 2020. All they have to do is complete the application form below.
Companies that have already been granted a repayment holiday and want an extension can use the same application form until 20 September 2020 to extend their repayment holiday until 31 December 2020.
We will start processing this type of request as of 1 September 2020.
For more information, please go to the Febelfin website.
Who is eligible for a repayment holiday?
The special measure referred to above is intended for healthy businesses that are currently having difficulties making loan repayments due to the coronavirus outbreak.
A repayment holiday can be requested by non-financial companies, SMEs, the self-employed and non-profit organisations that meet each of these 4 criteria:
- The company/organisation is faced with payment problems due to the coronavirus crisis:
- Turnover or business activity has fallen or will fall;
- Measures for temporary or permanent unemployment have been fully or partially introduced;
- The government has ordered the company to close as a measure to contain the spread of the coronavirus.
- The company/organisation is permanently established in Belgium.
- The company/organisation had no arrears on its current loans or in relation to its tax liabilities or social security contributions on 1 February 2020, or the company had less than 30 days arrears on its current loans or in relation to its tax liabilities or social security contributions on 29 February 2020.
- The company/organisation has met its contractual loan obligations with all banks in the 12 months prior to 31 January 2020 and is not subject to active forbearance measures.
Public authorities cannot apply for a loan repayment holiday.
If you're applying for a repayment holiday for the first time, the repayment holiday will last until 31 December 2020.
If you've already been granted a repayment holiday and want an extension, it can be extended until 31 December 2020.
How to apply for a repayment holiday
In most cases, we can temporarily suspend repayments of principal on your business loan up until 31 December 2020.
This means that no principal repayments will be debited up to and including 31 December 2020.
The interest due will still have be paid though.
At the same time, the term of your loan will also be extended. As a result, the amount you regularly pay back will remain the same (principal plus interest) when you start making repayments again. The term of the loan will be extended by the length of time the repayment holiday lasts.
On 1 August 2020, you applied for a repayment holiday for a credit with an outstanding credit amount at the time of 23 164 euros. Your monthly repayments amount to 2 127 euros. During the repayment holiday, you continue to pay interest on the outstanding credit amount.
|Current repayment schedule||New repayment schedule|
Initial credit amount
|50 000 euros||50 000 euros|
|Outstanding credit amount as at 31 July 2020||23 164 euros||23 164 euros|
|2 127 euros||2 127 euros|
|Periodic repayment during suspension period (3 August 2020 - 31 December 2020)||
2 127 euros (= capital + interest)
38 euros (= interest only)
|Periodic repayment after suspension period||2 127 euros||2 127 euros|
In exceptional cases, it will not be possible to put the principal repayments on hold or to extend the term of your loan, even if you are eligible for a repayment holiday. In that case, we will contact you to discuss an alternative solution.
Costs involved with the repayment holiday
This arrangement will not attract any charges. However, interest will be charged (at the current rate) during the repayment holiday.
To apply for a repayment holiday for your KBC Investment Credit, complete the online form at the bottom of this page.
You will receive a confirmation e-mail from us as soon as we’ve received your application.
If you would like to enquire about the possibilities for a repayment holiday for another type of business loan, feel free to get in touch with your contact or KBC Live.
Points to note
- If this is your first application for a repayment holiday, we'll start processing it right away.
- If you are requesting an extension of an existing repayment holiday, we'll start processing your application as of 1 September 2020, as agreed between the government and the banking sector.
- Your application must be submitted at least two banking days before the following due date. For example, if your next due date is 30 April, you must submit your application by 28 April.
- It is not possible to combine investment credits from different companies in the same application; a separate application must be submitted for each company number.
- A repayment holiday can only be obtained for future repayments.
- The applicant must be a legal representative of your company.
- Corporate clients are kindly requested to contact their branch instead of using the application form.
Before getting started
Have the contract number(s) for your investment credit(s) to hand before completing the application form below.
You can find these numbers in our digital apps or in your credit contract.
You use KBC Touch:
You will find the contract number in your investment credit details screen:
- Open Touch
- In the corporate section, tap ‘Credits’
- Select the relevant investment credit
You use KBC Business Dashboard:
- Open the Business Dashboard
- In the menu at the top of the screen, select ‘Finance’ to retrieve your credit overview
- Select the relevant file to retrieve your contract number
It is currently not possible to retrieve an overview of your corporate credits in KBC Mobile.
You don’t use our digital apps
You can find the number for your investment credit(s) in your contract.