Frequently Asked Questions

To find the answer you need, use the handy search tool below.

  • Is collateral to obtain a loan necessary?

    No, in many case no collateral is required to qualify for a loan at Qredits. In certain situations it may happen that the business advisor may deem it necessary.

  • Will Qredits take over existing business loans?

    No, the loans Qredits provides, serve mainly for investments in business activities.

  • How do I qualify for a loan?

    If you have a need for financing up to Afl. 100.000 you could qualify for a loan from Qredits, provided the (possibly) present existing loans are not too high.

    The documents you need depend on whether you're starting a business or you already have a business that you want to expand.

    View the checklist for starting entrepreneurs or the checklist for existing entrepreneurs for a Microcredit here.

  • My Limited Company could also apply for a Qredits loan?

    We also accept credit applications for a Limited Liability Company. In such case we require a full or partial private guarantee, depending on the requested credit amount and the situation of the Director and any shareholder (s).

  • Which sectors are excluded from credit applications?

    Applications that fall under the following sectors will not be taken into consideration by Qredits.

    - Sex-related businesses and any associated businesses in the erotic sector

    - Coffee shops

    - Money Exchange and / or pawnshops

    - Drug-related businesses

    - Arms Trade

    - Trading companies in import operations and export transactions to politically and economically unstable countries.

  • I need more than Afl. 100.000. Can I apply for a Qredits loan?

    If your need for credit is greater than Afl. 100.000, it's important that you have the loan amount you need extra first settled through- for example- a bank.

    The total credit need of the enterprise may not exceed Afl. 100.000, this is including the financing of Qredits and the total financing from a bank.

  • Is a business plan required to apply for a starter loan?

    Yes, for a starting entrepreneur having a good business plan is essential in the assessment process of your application. Qredits provides several tools to write a business plan. In this way, you can use the free business plan template.  You can get started with our e-learning How to write a business plan as well. If you wish to get personal help with writing a business plan, our mentors can certainly help you.

  • What is the maximum term for a loan?

    The maximum duration of a Microcredit is 10 years. Qredits advises to keep the duration as short as possible. The Qredits business advisor will discuss this with you.

  • What legal forms will qualify for a Qredits business loan?

    Applications from companies being; a legal sole proprietorship, commercial or limited partnerships (VOF / CV) or limited liability company (N.V.) may be considered by Qredits.

  • How is the repayment term of my loan determined?

    The repayment period is determined based on your personal situation. So this is fully tailor-made. Often the repayment term is equal to the economic life of the asset.

  • I am active abroad. Will my company still qualify for a loan?

    You are eligible for a loan when the greater part of the operations takes place on Aruba.

  • The monthly collection of interest and / or redemption failed, now what

    You can transfer the amount. The IBAN number that you use for manual payment is NL75RABO0125571704 in the name of Qredits.  Always state your customer number when carrying out manual payments!

  • Can I apply for a Qredits loan in the form of a current account?

    No, Qredits only provides business loans up to Afl. 100,000.

  • Can I redeem a loan within one year as well?

    Additional redemption or repayment of a Microcredit within the first year is possible under certain conditions. These conditions are found in Section 6 of the General Terms and Credit Conditions Microcredit.

  • How soon can I dispose over the loan?

    Qredits tries to provide clarity within 14 days after the conversation with a business advisor. Upon approval the necessary documents are prepared and sent. Upon receipt of the signed documents, the loan will be transferred to your business account within 5 working days.

  • Do I still qualify for a Qredits loan without equity (money and/or goods)?

    Yes, in principle there is no equity required to qualify for a loan from Qredits.

  • My company has been around for several years, can I still get a loan from Qredits?

    Yes, Qredits provides business loans to new and existing entrepreneurs with a maximum of Afl. 94.000.

  • Does Qredits require a deposit?

    Qredits as a rule does not require a deposit. Depending on the overall risk assessment of the business, the entrepreneur may be asked for a possible guarantor for the loan. In general, a security deposit increases the prospect of obtaining the financing.

  • How does Qredits handle a combined financing?

    In the case of a combined financing, it is imperative for Qredits to have the bank loan approved first. Subsequently you could apply for a loan at Qredits. The requested bank loan may not be much higher than Afl. 100.000.

  • Do you always obtain a mentor when you get a Qredits loan?

    Mentoring is strongly advised when taking out a loan. The objective of the business mentor is to help you make your enterprise successful.

  • Is it necessary to have proprietorship?

    No, this is not necessarily required, but it is subject to your business plan and investment budget. We will review each application as to what extent the overall risk may deem it acceptable to provide the loan without ownership. Proprietorship does increase your overall chances to obtain a loan.

  • Can I redeem my starter or business loan in advance without penalty?

    In case of Microcredit after the first year you have the possibility to annually redeem 10% of the principal penalty free. Additional or ful repayment at one time is also possible under certain conditions.  These conditions are stated in Section 6 of the General Terms and Credit Conditions Microcredit.

Frequently Asked Questions