FAQ

The purpose of Qredits is the development of small businesses by creating specific lending and coaching facilities to offer small entrepreneurs and the self-employed.

Our individual and tailored advice to small businesses is what sets Qredits apart from regular banks. In addition, we assume a positive approach: we prefer to look to the future rather than the past.

Yes, Qredits provides business loans to start-ups and existing businesses up to a maximum of € 50,000.

Yes, this is a possibility, provided that the total amount does not exceed € 50,000.

Qredits provides business loans up to a maximum of € 50,000.

Qredits strives to conform their loan percentage rates to the current market-rate. This is why the percentage rates for starters’ loans and commercial loans are checked regularly by banks. These are obviously different for each bank, but vary between 6% - 13%. Our actual interest rate lies in the middle of this range.

Qredits has no other source of revenue than the interest income from the loans. With this income, all expenses must be covered as well as our own interest obligations from our own financing from the banks. Our personal attention, including a business consultant for each client, home visits to applicants, personal management of the accounts and flexibility in the loan are what we see as important issues that have value for each and every client. These costs must be covered. Moreover, Qredits has no further expensive overhead such as offices or communication equipment.

Qredits is a non-profit organization which means that the interest on the loans is kept as low as possible.

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

The repayment period is determined based upon your personal situation. This is individualized.

Repayment of the loan within one year is possible. We add here, however, a penalty fee to your account. This penalty is calculated using the following formula:

Month end outstanding loan amount * loan rate% * (12 months – number of months that interest is paid) / 12

Qredits offers you the possibility of whole or partial repayment after the first year. The one condition is that you notify us in writing at least 1 month in advance. In this way you can save on interest costs when your business is going well.

Qredits strives to give an indication within fourteen days after the meeting with the business advisor. Upon approval, the relevant documents are compiled and sent. Upon receipt of the signed documents, the loan will be transferred to your business account within five working days.

You can be considered for a business loan with Qredits if your total funding need is up to € 35,000. provided that any current outstanding funding is not too high. Your application should minimally include the following documents:

You are a starter:

Business plan including investment and financing plans, operating budget and liquidity forecast.

Copy of your proof of identification

You are existing business owner:

Description of your business activities and market area 

Investment plan

Financing plan

Annual figures for 2007, 2008 and 2009

Expected upcoming results for the coming year(s) (Operating Budget)

Liquidity Prognosis

Copy of your proof of identification 

Applications from businesses in the legal form of sole proprietorship, partnership, general partnership (VOF), limited partnership (CV), or a private limited company BV may be considered by Qredits. Applications from foreign companies with a legal form such as GmbH, Ltd. or SA will not be considered.

At the time that Qredits receives your request, it is determined if you need to take an entrepreneur’s test. This depends upon your knowledge and experience. Maybe you have already sent in a good business test. If, for the screening of your application, Qredits finds it important that you take an entrepreneur’s test, you will be sent via email a login code from Qredits that gives you access to online business test. The results of this test are sent directly to Qredits and taken further into consideration with your application.

Notices on your credit report don’t mean per se that you don’t qualify for a loan. This is considered on a case by case basis where facts and circumstances are taken into consideration.

Applications including eroticism, drug-related or arms trading, or exports to politically unstable countries will not be taken into consideration by Qredits.

In the case of bankruptcy (WSNP) and liquidation it is important that it successfully concluded.

As long as the majority of the operations are in the Netherlands, this does not preclude obtaining a loan.

You can send your application together with the related documents (see 'start-up' or 'existing business' checklist) to the attention of the Qredits’ credit support department. Please ensure that no original documents -only copies- are sent along with your application. If we nevertheless receive original documents they will not be returned.

To apply for a business loan, we recommend you use the online application module. If this (for technical reasons) does not work, you can use the 'paper' forms. Please note that processing time in that case is slightly longer. Download the application form here.

No, Qredits only provides business loans of up to € 50,000.

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

No, there is no collateral required in order to qualify for a loan from Qredits. In certain situations it may occur that the business advisor requests it.

No, the loans from Qredits are to mainly be used for investing in business activities.

No, that's not required. We recommend, however, first submitting an application to a bank. This can be, depending on your personal situation with the bank, a more advantageous alternative.

Yes, in order to assess the application for a start-up enterprise, it is essential to have a good business plan. We recommend that you use the business plan template on our site, but this is not mandatory. Do you want help in making a business plan? Then contact a MF-entrepreneur’s point (MF-ondernemerspunt). On www.eigenbaas.nl you’ll find an overview of the MF-entrepreneur’s points in your region.

Coaching is not always a requirement for a business loan. Depending on your entrepreneurial skills, the business adviser from Qredits may decide that guidance by a coach during the first year is compulsory. The purpose of the business coach is to help you make a success of your business. If you already have a coach, then the business adviser will initially check to see if he provides sufficient guidance.