PMV — Flemish Business Financing Guide
PMV: Flanders’ main business financing agency. Discover the Winwinlening, loan guarantees, co-investments, and Startlening — and how BelGrant helps you access them.
Find My PMV OptionsWhat is PMV?
PMV (ParticipatieMaatschappij Vlaanderen) is the Flemish government’s investment company. It provides financing solutions for Flemish businesses at every stage of development — from startups seeking their first loan to established companies needing growth capital or guarantees. PMV operates independently from VLAIO and FIT, focusing specifically on financial instruments rather than grants or export support.
PMV manages several flagship programs including the Winwinlening (a citizen lending scheme with tax benefits), the Startlening (subordinated loans for starters), loan guarantee mechanisms through Gigarant, and direct co-investment vehicles. Together, these instruments make PMV one of the most important financing partners for Flemish businesses that need capital beyond what traditional banks can offer alone.
Key PMV Programs
Winwinlening
The Winwinlening is a unique Flemish scheme where private citizens lend money to SMEs, backed by a Flemish government guarantee and a 2.5% annual tax credit for the lender. This makes it attractive for friends, family, and acquaintances to invest in Flemish businesses. Loans can run up to 10 years with flexible repayment schedules agreed between borrower and lender.
Up to €75,000 per lender, max €300,000 per company
Flemish SMEs borrowing from natural persons (not shareholders >5%)
Loan Guarantees (Gigarant)
Through Gigarant, PMV provides guarantees on bank loans for Flemish companies, covering up to 75% of the loan amount. This reduces the collateral burden on entrepreneurs and enables banks to approve financing for riskier but viable projects. Guarantees are available for investment loans, working capital, and business transfers.
Guarantee coverage up to €1.5 million
Flemish SMEs and larger companies with a viable project and bank loan application
Co-investments
PMV invests directly in Flemish companies through equity, quasi-equity, and mezzanine instruments. These co-investments complement private investors and banks, strengthening the company’s balance sheet and signaling confidence to other financiers. PMV’s investment team evaluates projects based on growth potential, management quality, and economic impact for Flanders.
€150,000 – €5 million+
Flemish companies with strong growth potential and a credible business plan
Startlening
The Startlening is a subordinated loan specifically designed for entrepreneurs starting or taking over a business in Flanders. It complements the entrepreneur’s own capital contribution and bank financing, filling the equity gap that many starters face. The loan carries favourable interest rates and flexible repayment terms, making it one of the most accessible financing tools for new Flemish businesses.
Up to €100,000
Entrepreneurs starting or taking over a business in Flanders (max 4 years old)
Who Qualifies?
Flanders-based
Your company must be registered in Flanders or have its operational headquarters in the Flemish Region.
SME or growth company
Most PMV programs target SMEs, but co-investments and Gigarant guarantees are also available to larger companies with strong growth plans.
Sound financial standing
Applicants must be current with ONSS and tax obligations. The business must demonstrate viability and repayment capacity for loan-based instruments.
Viable project
You must present a credible business plan or investment project. PMV evaluates commercial viability, management quality, and economic impact.
PMV vs VLAIO vs FIT
| Agency | Type | Main instruments | Best for |
|---|---|---|---|
| PMV | Investment company | Winwinlening, loan guarantees, co-investments, Startlening | Business financing, equity gaps, loan guarantees |
| VLAIO | Innovation agency | R&D grants, KMO-portefeuille, innovation subsidies | Non-repayable grants for innovation, training, consultancy |
| FIT | Trade agency | Export subsidies, trade missions, market research | International expansion and export support |
How BelGrant Helps
Instant matching
BelGrant scans 95+ Belgian financing programs and identifies which PMV instruments match your company profile — in 30 seconds.
Lucas guides your application
Our AI assistant Lucas helps you understand which PMV program fits your situation, prepares your documentation summary, and navigates the application process.
Deadline alerts
Get notified when PMV launches new programs, updates eligibility criteria, or opens new co-investment windows.
Frequently Asked Questions
What is the difference between PMV and VLAIO?
PMV is an investment company that provides repayable financing instruments — loans, guarantees, equity. VLAIO provides non-repayable grants and subsidies for innovation, training, and business development. They serve different needs: PMV when you need capital, VLAIO when you need co-funded project support.
Can I combine a Winwinlening with a bank loan?
Yes, that is exactly how the Winwinlening is designed to work. The citizen loan complements bank financing, strengthening your overall funding package. The Winwinlening is subordinated to the bank loan, which means the bank gets repaid first — making banks more willing to lend.
How long does a PMV application take?
Winwinlening registrations are processed within 2–3 weeks. Startlening applications typically take 4–6 weeks. Gigarant guarantee applications take 2–4 weeks. Co-investment decisions can take 2–3 months depending on deal complexity and due diligence requirements.
Is the Winwinlening only for startups?
No. The Winwinlening is available to all Flemish SMEs, whether newly created or established. The key requirement is that the lender must be a natural person (not a company) and cannot hold more than 5% of shares in the borrowing company.
Ready to explore PMV financing?
Let Lucas match your company to the right PMV instruments in seconds.