Microcredit
A small loan for starting and existing entrepreneurs
What is a Microkrediet
As an entrepreneur, you sometimes need money. For starting your business or for purchasing inventory or a means of transport. A Microcredit is a business loan of up to AWG 100,000 for starting entrepreneurs and AWG 200,000 for existing small and medium-sized enterprises.*
*An existing business for us means a business for which financial statements can be provided for multiple years.
Start your business or grow!
- Amount: up to AWG 200,000*
- Duration: average 5 years
- Interest rate Microcredit: {rente_microkrediet}
- One-time processing fee from {Behandelkosten_microkrediet_tot_10000} to {Behandelkosten_microkrediet_tot_200000} (depends on loan amount)
- Payment: fixed monthly amount for interest and repayment
Microcredit
Microcredit is a small business loan for entrepreneurs up to a maximum of AWG 100,000 (AWG 200,000 for existing businesses). You can use the Microcredit for various purposes. Such as starting your new business, buying a car or van for your business, or as working capital. You pay a fixed monthly amount for interest and repayment.
We will coordinate the term of the loan together. We ensure it is affordable for you. The average term is 5 years and the maximum term is 10 years.
Starting your business or making a smaller investment is possible with a Microcredit!
How does a Microcredit application work?
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.
Questions about applying for a Microcredit
How to qualify for a loan?
With a total financing requirement of up to {Maximaal_bedrag_microkrediet}, you may be eligible for a business loan from Qredits, provided any existing financing is not too high. The documents required depend on whether you are starting a new business or expanding an existing one.
Is collateral necessary to obtain a loan?
No, in many cases no collateral is needed to qualify for a loan at Qredits. In certain situations, the business advisor may deem it necessary.
Am I eligible for a loan by Qredits without my own input (money and/or goods)?
Yes, in principle there is no need for your own contribution to qualify for a loan Qredits. However, it can strengthen your position. We would like to have a conversation to see if you qualify for a loan. We always look at the entrepreneur when providing business credit.
Does Qredits ask for a deposit?
Qredits does not standardly a deposit. Depending on the overall risk assessment of the business plan, the entrepreneur may be asked if someone could stand as a guarantor for the loan. A guarantor generally increases the chances of obtaining the financing.
Is it necessary to bring in your own money?
No, this is not necessarily required, but depends on your business plan and investment budget. We will assess each application to determine the extent to which the overall risk is acceptable to provide funding without your own contribution. Generally, own contribution increases the likelihood of obtaining financing.
Templates to get you started
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?
Contact us if you are stuck or have questions. We are here to help! Also for advice on which loan, training, or coaching is best for your situation. Get in touch with us.