We strongly believe we can learn from each other and share experiences models to help improve opportunities for entrepreneurs not just in The Netherlands but also at an international level. To this end we regularly host peer-to-peer visits with other MFIs. We are also grateful for the support we have received from organizations such as the ones mentioned below.
European Investment Fund (EIF)
The European Commission has created a number of instruments to support the European microfinance sector in its development towards a sustainable and reliable sector. Qredits has been able to successfully apply for a number of these instruments made available through EIF. Currently these are:
- the EaSI guarantee programme for loans < € 25K
- the COSME guarantee for loans > € 25,000 up to < € 50,000.
Qredits is an active member of the European Microfinance Network. In June 2013 Qredits managing director Elwin Groenevelt was elected to serve a four-year term as Treasurer on the EMN Board.
EMN gathers organisations with a primary involvement in microfinance in the European Union and addresses issues related to professional and personal microcredit in Europe, other financial services still being underdeveloped. The mission of EMN is to promote microfinance as a tool to fight social and economic exclusion and to promote micro-entrepreneurship and self-employment. This will be achieved by supporting the development of microfinance organisations through the dissemination of good practices and by improving the regulatory frameworks for microfinance, self-employment, and micro enterprises at European and Member State levels.
In September 2013 Qredits joined Youth Business International (YBI) at its global summit held in London.
YBI is a global network of independent non-profit initiatives operating in over 40 countries that help young people start and grow their own business and create employment. YBI members assist under-served young entrepreneurs with a combination of training, access to capital, mentoring and other business development services.
In 2014 YBI's members supported 18,949 entrepreneurs, provided practical training to 65,559 young people and accounted for 6,644 active mentoring relationships.
In 2015 Qredits was able to receive a subsidy from Citi Foundation with help from YBI to support youth employability and entrepreneurship. Together with 5 other international MFIs they formed Youth Business Europe, a community exchanging best practice, knowledge and methodologies by cross border interaction.
As a result of this partnership over the course of one year 800 new business were started by young people in Europe. Qredits has used the Citi Foundation subsidy to help boost its successful educational program used in schools throughout the Netherlands. Part of the funds will also be used to help pay for a PhD study on the effects of microfinance in the Netherlands studying the results of Qredits customers over the course of a 4-year period.
Globally, J.P. Morgan, through the JPMorgan Chase Foundation, focuses its philanthropic investments and attention on three pillars: Economic Development, Financial Empowerment and Workforce Readiness.
Through this program Qredits was able to receive a grant from the JPMorgan Chase Foundation in October 2013. Funds were used to strengthen and expand e-learning and coaching services to assist entrepreneurs during the loan application process and increase their chances of obtaining a loan.