First check

First check

After submitting an application online on our site, we check in the Intake phase whether your application is in conformance with the Qredits target group and whether your application is complete.

The following criteria are important whether you belong to the target group or not:

  1. Is the total financial need of the company not higher than Afl. 100.000? Qredits provides loans explicitly up to a maximum of Afl. 100.000.
  2. How high are existing financings, if any? Generally, when applying for a microcredit this should not exceed the total amount of Afl. 50.000.
  3. Is this a company which is mainly active on the market on Aruba and is it established on Aruba as well? This is an important condition to become eligible for a loan.
  4. Does the industry fit the target group for financing by Qredits? A number of specific branches are excluded (see frequently asked questions).

Quality application

After has been established whether you fit Qredits target group, we will check if the application is complete and of sufficient quality. We hereby pose the following questions:

  1. Is there an elaborate marketing plan?
  2. Is the financial support correct?
  3. Is your idea put to paper in a clear and transparent manner?
  4. Do all the required documents accompany your application?

Most of the time you will receive within five working days upon submitting the application a response by email whether the application will be processed. If the application is not complete, you will be asked to provide the missing documents or you will be advised to seek assistance to help you write the business plan through for example Qredits e-learning How to write a Business Plan.

Application to business advisor

Once Qredits has a good understanding of your business and your application is complete, your application will be forwarded to a business advisor. This advisor shall assess your application and test the viability of your plan.

Back to step 1  Continue to step 3

View the 5 steps

1. The application

After filling out the application form, we ask you to upload several documents. The documents to be sent depend on the fact whether you are a starter or an existing entrepreneur. View the different checklists.

2. First check

In this phase we look at whether your credit application concurs with Qredits and whether your credit application is complete. Within five working days you will receive a response by email. You will learn whether the credit application has been processed and whether the business advisor will come for a visit.

Read more on the conditions of Qredits.

3. Appointment with business advisor

When we have a clear idea of your enterprise and your application is complete, then your application will be forwarded to a business advisor. The advisor will assess your application and the feasibility of the plan as well.

The business advisor will contact you within five working days to schedule an appointment. The extensive interview will take place at your home or in your place of business.

Read more on the interview with the business advisor.

4. Final assessment of application

In this phase the Qredits risk manager assesses your credit application and the report compiled by the business advisor on your application and interview.

The assessment of the risk manager will follow within three working days upon receipt of the report drafted by the business advisor. The risk manager ultimately determines whether the credit is approved and under which caveat it will transpire.

Read more on the final assessment.

5. Provision of Loan

Upon approval we shall start working on drafting the loan agreement. First you will receive from us a financing proposal. It contains all the agreements made on the loan. If this agreement has been approved, you will then receive the quote and loan agreement.

Depending on your bank, the amount of the loan shall be deposited into your business account within minimum one and to the latest five working days.

Read more on the provision of your loan.

First check