Qredits signs deal for € 30 million new financing


On Tuesday the 24th of august Qredits signed 2 new financing agreements for 30 million Euros. The agreements were signed in the presence of the Dutch minister of Economic affairs van Der Hoeven, and members of the Dutch council for microfinance, among whom chairman Laman Trip and Her Royal Highness Princess Maxima of the Netherlands.


In the last few months Qredits has been discussing additional financing with the Dutch bank of municipalities (BNG), and Rabobank, ING en ABN-AMRO. Since the successful start of Qredits in 2009, the succes and approval rate have been such that additional financing was needed sooner then expected. Until today Qredits has given out 900 loans at an average amount of 19.000 Euros. This means that the existing financing of 15 million Euros by the ministry of Economic affairs is fully deployed.

The Banks are prepared to provide Qredits with a loan of 30 million Euros in total, of which half is provided by BNG, and the other half by the three banks. De Dutch government is providing a guarantee of 80% for the BNG loan.

With this financing Qredits has sufficient funding to realize her goals until 2012. This means that microcredit in the Netherlands will be available in the longer term for start up and existing entrepreneurs.

The minister of Economic affairs Van der Hoeven emphasized that she is very pleased that the “boosting role”of the government has meant that commercial banks have sufficient trust in Qredits to enter into these financing agreements. This fits the aim to realize sustainable development for Qredits, which should ultimately lead to an existence without government support.