Wednesday , March 22 2023

Qredits offers Saba entrepreneurs microloans at 2% interest

New and existing entrepreneurs in St. Maarten, Saba and St. Eustatius can now access microloans up to US $25,000 at two per cent interest, personal mentor­ing and business development tools from Dutch funding foundation Qredits. The low-interest loans are backed by the Dutch Recovery Fund.

Entrepreneurs will only pay back the interest rate for the year, not the loan total. This means that the monthly fees will not exceed US S50 for the first year.

Any persons who are legally registered and/or can legally operate a business in St. Maarten, Saba or St. Eustatius can apply for a microloan via Qredits. Information on how access a microloan and how to apply for one are available online via or­St-Maarten-St-Eustatius-Saba.

A Qredits officer will meet with applicants to assess their business and financial plan. Qredits also offers educational material and coaching to create a proper business and financial plan. Depending on these plans, that proper paperwork is in place, and the personal commitment the applicant exudes, Qredits will assess the applicant’s loan-request.

Qredits is also planning to hold regular workshops to aid en­trepreneurs in growing their businesses. The funding foun­dation also aims to create a “coaching pool.”

Qredits St. Maarten loan officer Mariah Constant said in a press statement: “This gives persons a chance to rebuild or start a new venture during these difficult times.” It aims to help aspiring and existing entrepreneurs that have a sound business plan but cannot get a loan or mentoring through regular channels.

Qredits St. Maarten. Saba and St. Eustatius is in Miss Lalie Commercial Center. For information, contact Qredits at or +1-721-587-3427.

The Daily Herald

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