Entrepreneurs getting better access to credit, financing

Piggy Bank (Picture: Wikimedia Commons/401(K) 2012)Piggy Bank (Picture: Wikimedia Commons/401(K) 2012)

The improving economy has led to better access to credit and financing for entrepreneurs. Last year 78 percent of credit applications were granted, either completely or partially, compared to 62 percent in 2013.

This is according to the Finance Monitor of research bureau EIM, BNR reports. Minister Henk Kamp of Economic Affairs sent this monitor to the Tweede Kamer, lower house of parliament, on Wednesday.

Loan approvals for small and medium sized enterprises are also on the rise, but less significantly so. The financing for small companies increased from 51 to 57 percent in the first half of this year.

The Minister is pleased to see that entrepreneurs again see opportunities to invest in new products and services. He is also happy that they more often manage to get funding to do so. This is how companies grow, take on extra people and strengthen the economy further, according to Kamp.