Qredits Celebrates 100th Loan for SSS Islands
PHILISPBURG – Qredits Microfinancing has celebrated its 100th issued loan for St. Maarten, St. Eustatius and Saba, a milestone achievement. On August 28th, 2018 at the Miss Lalie’s Commercial Center on the Bush Road, the Qredits local team and Qredits CEO marked the special occasion with an event. The festivities were well attended by government officials such as the Honorable Prime Minister Mrs. Romeo-Marlin, Honorable Minster of TEATT Mr. Johnson and Honorable Minister of Finance Mr. Geerlings. Also in attendance were Chamber of Commerce representatives, official Qredits coaches and of course the clients.
Elwin Groenevelt, CEO Qredits, marked the issuing of the office’s 100th loan to entrepreneur Shamire Connor whose venture-Fire Fit Gym is set to open soon. “Being able to get the opportunity to add more funds to my project was very important to me. Opening your own gym isn’t very easy, especially if you’re building a brand. Qredits gave me and others the opportunity to accomplish ideas that the local banks wouldn’t. Qredits saw what was needed on the islands, and I hope for the future that more young entrepreneurs take advantage of this and become self-employed. I am glad to be a part of this special occasion as the 100th client.”
Initially set to open at the beginning of September, Qredits officially opened its doors just after Hurricane Irma. The focus was then adapted to the situation: assisting storm-damaged small businesses and new entrepreneurs with financing to jump-start their recovery and launch their companies. Thanks to the ongoing assistance and support of the Department of Economic Affairs and the Chamber of Commerce offices on each island, Qredits can offer enormous added value to the growth of entrepreneurship on the SSS islands. In early 2018, Qredits launched their soft loan program with an attractive interest rate of 2% and a one year grace period to further assist the entrepreneurs. The response was over whelming and the number of applications increased significantly, bringing on this achievement of over 100 funded businesses in under a year.
The CEO of Qredits is very happy with the reaction from the public toward Qredits. “ Qredits is really about helping entrepreneurs. After the devastation of the hurricane, the business community on the islands did not have much help with regards to funding. Through Qredits , especially with the soft loan program we were able to help so many businesses on St. Maarten, Saba and St. Eustatius and we are very proud.”
The local Qredits team is excited for the future. They plan to be even more active in the community, with more information workshops, mentorship opportunities and of course funding even more businesses. Qredits has provided loans to businesses in multiple fields including daycare centers, restaurants, construction companies, laundry mats, foundations, retail stores, etc, and they hope to do many more. Anyone that is interested in Qredits can contact them via the Facebook page, via email at email@example.com or telephone at 5873427