Providing support during the pandemic
Kralendijk, March 17, 2020 – Qredits is introducing an additional support measure for its loan clients. Any entrepreneur with a loan from Qredits can request a deferral of repayment for a period of six months. During this period, the client will only pay 2% interest. This way, the client does not have to make repayments temporarily, pays significantly less interest, and is substantially supported in keeping afloat during challenging times.
The impact of the measures taken on the island to curb the spread of the coronavirus primarily affects many entrepreneurs across various sectors. "And especially our client group at Qredits. A grant from the Ministry of Economic Affairs & Climate gives us the opportunity to provide additional support to thousands of entrepreneurs who, due to the effects of the measures related to the coronavirus, need a six-month deferral of repayment. We are grateful for this, as it allows us to make a difference," said Elwin Groenevelt, CEO of Qredits.
This is how Qredits is helping entrepreneurs through the pandemic.
Qredits clients facing financial difficulties due to the coronavirus can contact the Qredits office on Bonaire at +599 717-1412 or by email at bonaire@qredits.com. Groenevelt said, "We have already received many overwhelming responses, including emotional messages. This shows how much support is needed for small business entrepreneurs. Most entrepreneurs are in need of liquidity and working capital to cope with the negative effects in the coming months."
Qredits offers, where possible, a free so-called repayment deferral for a period of six months. The interest rate is automatically reduced to 2% during this period. This way, entrepreneurs do not lose unnecessary liquidity on repaying the loan.
Over the past few years, Qredits has financed 20,000 entrepreneurs, both in the Netherlands and in the Caribbean. The vast majority of these entrepreneurs are start-ups or small business owners.
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