Business Loan
Invest in your business with a business loan from Qredits
Your loan solution
Qredits offers business loans to entrepreneurs within the small and medium-sized enterprises (SMEs) sector. At Qredits, you can apply for a loan to start your own business or to invest and expand your existing business. When meeting with one of our business advisors, we will discuss the most suitable loan solution for you.
A suitable business loan for every situation
Starting your business, purchasing inventory, or acquiring a business, all require funding. From long to short-term business loans, we will assist you with an appropriate business loan to finance your business plans.
Understanding a Business Loan
Our business loan, also known as a commercial loan has a term between 1 - 10 years. A monthly fixed amount is paid which consists of repayment and interest. In consultation with our business advisor, we will discuss which loan is the most suitable for your business.
Investing in your business starts with Qredits!
Our Business Loans:
What are the steps when applying for a Business Loan?
Required documentation
To assess your request properly and promptly, we require a number of documents. Make sure you have these documents readily available for submission.
For startups:
- Your business plan. Here you can find an example of a business plan.
- Your financial plan with an outline of your investment. Here you can find an example of a financial plan.
For existing entrepreneurs:
- Description of the business activities and the market;
- Extract from the Chamber of Commerce in Aruba;
- Investment budget with explanation;
- Final annual figures from the last 2 years from the accountant;
- Interim figures for the current year (from your own administration);
- Operating budget;
- Liquidity forecast.
Applying for a loan
Apply for a loan. Once your application is received we will get started!
Reviewing your application
We will review if the application is complete. If anything is missing, you will receive a message from us.
If the application is complete, a business advisor from Qredits will schedule a personal meeting with you.
Meeting with a business advisor
In a personal conversation, we will discuss your plans, situation, and possibilities further. Furthermore, we will inform you of the next steps to be taken in order to finalize the loan application process.
Finalizing your application
After meeting with our Business Advisors, a final assessment of your application will be made by reviewing all (updated) documents provided. Ultimately, your loan application will then be submitted to our Risk Managers and your advisor will inform you of the final evaluation of your loan application.
Requesting a business loan
Does Qredits also take over existing business loans?
No, Qredits' loans are primarily for investment in business activities. Qredits focuses specifically on providing financing for start-ups and existing entrepreneurs. We also provide support and guidance in the form of training and coaching to ensure that entrepreneurs can continue to grow successfully.
Can my LLC also apply for a loan from Qredits?
We also accept loan applications for an LLC. In such cases, we always require a full or partial personal guarantee from the director and any shareholder(s), depending on the type of credit applied for and the specific situation.
I operate abroad. Does my company still qualify for a loan?
If you operate internationally with your business, you may still qualify for a loan. The condition is that the majority of the business activities take place in Aruba.
My business has existed for several years, can I still get a loan from Qredits?
Yes, Qredits provides business loans to both start-ups and existing entrepreneurs with a maximum credit requirement of {Maximaal_bedrag_microkrediet}. See below the checklist for existing entrepreneurs:
- Description of business activities and the market
- Chamber of Commerce extract
- Investment budget with explanation
- Final annual figures for the last 2 years from an accountant
- Interim figures for the current year (from own administration)
- Profit and loss budget
- Liquidity forecast
Which industries are excluded from loan applications?
Requests falling under the following sectors will not be processed by Qredits.
- Sex-related businesses and related erotic sectors
- Coffeeshops
- Currency exchange offices and/or pawnshops;
- Drug-related enterprises
- Arms trade
- Trading companies with import and export transactions to politically and economically unstable countries
What legal forms are eligible for a business loan at Qredits?
Applications from businesses that have the legal form of sole proprietorship, partnership, general partnership (GP), or limited liability company (LLC) can be processed by Qredits.
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FAQ for startups, loan limits, and financing options
Is a business plan necessary to apply for a start-up loan?
Yes, when starting a business, having a good business plan is essential when evaluating your application. Qredits offers several tools for writing a business plan. For example, you can use the free template business plan. You can also get started with our e-learning Business Plan Writing.
Do you always get a mentor when you take out an loan with Qredits?
Menroting is highly recommended when taking out a loan. The goal of the business mentor is to help you succeed in your business.
Together, we will look at what you need and where your needs lie.
How soon can I have the loan from Qredits?
Qredits tries to give you clarity within 14 days after the interview with a business advisor. Upon approval, the necessary deeds are drawn up and sent. Upon receipt of the signed deeds, the credit will be transferred to your business account within 5 business days.
Can I apply for loan over {Maximaal_bedrag_microkrediet}?
If your amount requirement exceeds {Maximaal_bedrag_microkrediet}, it is important that you first secure the additional loan amount needed from, for example, a bank. The total loan requirement of the business may not exceed {Maximaal_bedrag_microkrediet}, including the financing from Qredits and the total financing from a bank.
Can I apply for a current account?
You cannot apply for credit in the form of a current account at Qredits. We only provide business loans up to {Maximaal_bedrag_microkrediet}.
What about combination financing?
In the case of combination financing, it is important to Qredits that the bank financing is approved first. Then you can submit an application to Qredits. The requested bank financing should not be much larger than AWG 200,000.
Questions or need assistance?
Can't figure it out or have questions? We're here to help! Also for advice on which loan, training, or coaching suits your situation best. Get in touch with us.