Process request to redemption
Clarity in the progress of your financing
Business loan applications and repayments are quick and easy at Qredits. See below for the entire process from application to repayment. Interest rates and maximum terms may vary by type of loan. We'll help find the best loan option for you. Want to learn more about our different loans or apply for a loan?
- Making an inquiry
- Checking your application
- Personal interview
- Assessment of application
The start or next step of your business starts with Qredits!
Here's how it works: from application to repayment
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.
A setback can happen to anyone. Can't make your monthly payment? Or is your business not doing well financially? Talk to us. Together we can find a solution. For example, by pairing you with a Qredits coach. We are there for you, even if things don't work out. We call this Social Management.
FAQ about repayment
What is the maximum term of a loan?
The maximum term of a loan is 10 years (this may vary by loan). Qredits recommends keeping the term as short as possible. The Qredits business advisor will discuss this with you.
Can I repay the business loan early without a penalty?
In the case of a Microcredit, after the first year there is the possibility of repaying 10% of the principal annually without penalty. Additional or lump sum repayments are also possible under certain conditions. The associated conditions are set out in Section 6 of the General Loan Conditions Microcredit.
How is the repayment term of my loan determined?
The repayment term is determined based on your business situation. This is therefore customized. Usually the term is equal to the economic life of the asset.
Can I also repay a loan within one year?
Additional repayments or lump sum repayments of a Microcredit within the first year are possible under certain conditions. The conditions attached to this can be found in Section 6 of the General Loan Conditions Microcredit.
The standing order of interest and/or redemption has failed, now what?
You can transfer the amount yourself. The Arubabank number you can use for manual payments is 6014920190 t.n.v. Stichting Qredits Microfinanciering. Always mention your customer number when making manual payments!
Training courses
Qredits organizes various training programs. These are teaching programs, web lectures and training courses on a variety of interesting topics. Better business starts with gaining knowledge.
Qredits coaching
Everyone who receives financing from Qredits can receive free coaching. The coach supports you with challenges or learning skills. Our coaches are experienced entrepreneurs or professionals in various fields. They are happy to help!
Having issues or questions? We will help you! Also for advice on which loan, training or coaching best suits your situation. Chat with us or contact us.