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 advisors, 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.
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.
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.
Applying for a loan
Apply for a loan. Once your application is received, we will get started!
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
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 AWG 200,000*. 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 of 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
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.
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.
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.
Can my Limited Liability Company also apply for a loan from Qredits?
We also accept loan applications for a Limited Liability Company (LLC). In such cases, we always require a full personal guarantee from the director and shareholder(s).
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FAQ for startups, loan limits, and financing options
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 AWG 200,000*.
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.
How soon can I obtain a business loan from Qredits?
Normally, within 14 days after an interview with a business advisor an update is given on the finalization of your loan application. The duration of the loan application primarily depends on the promptness of the requested documents. 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 10 business days.
Do you always get a coach when you receive financing from Qredits?
Coaching is highly recommended when taking out a loan. The goal of the business coach is to help you succeed in your business.
Together, we will look at what you need and where your needs lie.
Can I apply for a loan over AWG 200,000*?
If your amount requirement exceeds AWG 200,000*, it is important that you first secure the additional loan amount needed from, for example, a bank.
What about combination financing?
In the case of combination financing, it is important that the financing from the bank is approved first. Then you can submit an application to Qredits.
Do you have any questions? We're here to help! Also for advice on which loan, training, or coaching suits your situation best. Get in touch with us.