Collaboration for the development of the agricultural sector
Kralendijk, May 17, 2023 - Qredits and the Public Entity Bonaire (OLB) introduced a new business loan, named Agrilening, during a press conference on May 16. The event took place at LVV and was attended by Commissioner Craane, Commissioner Thielman, Commissioner Kroon, the Qredits Bonaire team, (potential) farmers, and media representatives. The aim of this loan is to stimulate entrepreneurial activities in the agricultural sector on Bonaire, with a focus on the production of fruit, vegetables, and local meat. Additionally, the ‘AGRI Business Academy’ program will be launched for gardeners of fruits and vegetables who wish to turn their hobby into a business.
One of the priorities of the Executive Council is to promote sustainable agricultural activities, the continued availability of local fruits, vegetables, and meat, and to reduce the import of unprocessed consumer goods. Not to mention the jobs that can be created through the development of this sector. One drive that the Public Entity Bonaire (OLB) has created over the past years is the availability of plots of land at the LVV site for entrepreneurs who want to plant fruits and/or vegetables and raise livestock for consumption. Additionally, the "Simia pa Produkto" program has been established, where several coaches are appointed to assist entrepreneurs with writing their business plans. Furthermore, the OLB has provided funds to cover half of the tractor costs for plowing agricultural land.
"With this product, additional financial space is created for the growth and sustainability of existing agricultural businesses and an opportunity for a good start for new businesses in the sector. A constructive contribution to the sector, economic diversification, and local food production on the island. Additionally, the Executive Council will explore the possibility of making additional subsidies available for the further development of the agricultural sector on Bonaire." - Deputy Hennyson Thielman.
The Agriloan can be used as working capital and/or investments to realize agricultural activities, such as crop and livestock farming, processing agricultural products, and services that contribute to the success of agricultural activities. This loan is intended for those who want to turn their agricultural activities from a hobby into a business or for existing entrepreneurs in the agricultural sector who want to take the next step in their business. The maximum amount that can be provided is $100,000 at an interest rate of 2%. This loan has a maximum term of 60 months. Additionally, the applicant may be eligible for a repayment-free period of 6 or 12 months, where only interest needs to be paid.
In combination with the Agriloan, an educational program will also be implemented under the name 'AGRI Business Academy'. This is a variant of Qredits' 'Small Business Academy', focused on individuals who practice agricultural activities as a hobby and wish to prepare themselves for entrepreneurship in the sector. The program lasts 10 to 12 weeks, with 2 to 3 sessions held weekly. During the program, topics related to the technical aspects of farming and doing business as a farmer will be covered. The cost of the program is $50, which includes a book with references to entrepreneurial topics, access to the lessons, and an e-learning module that will ultimately result in a business plan and financial plan. As a final project, participants will present their business plan through a pitch and receive a certificate.
At the end of the press conference, it was announced that the first Agrilening would be awarded to Mr. Eric Curiel. A symbolic cheque was handed to him by the Deputies, among others, to formalize the financing. Eric started as a hobbyist raising goats for meat production. Over the years, his hobby has grown into more than just a hobby, which led him to decide in 2022 to transition into entrepreneurship. Eric will operate under the name Queen Clarita Quality Food Products E.Z. and will establish himself on a plot at LVV. In addition to the financing, he will also receive additional support from the government for the construction of a modern goat barn. Eric's mission is to contribute to the recognition of Bonairean goat meat by offering high-quality meat and other goat products locally and exporting them to the Caribbean. He aims to do this in collaboration with other farmers.
Thanks to the Agriloan, (potential) entrepreneurs in the agricultural sector on Bonaire can receive support through financing. Additionally, they can rely on a Qredits Coach to discuss possible solutions to challenges they encounter during the execution of their business plan and participate in the training that Qredits offers its clients. By providing more than just financing, Qredits aims to encourage entrepreneurs to get the best out of themselves and their businesses.
