Over the past 5 years more than one third of Qredits customers has reached revenues of over €100,000; one out of five has ended up refinancing with a bank and has evolved into a significant SME company. At the same time Qredits overall default rate remains at a low 3.1%. These were some of the figures presented at the symposium.
Another significant step towards securing Qredits future was evidenced during the signing session where a syndicate of 9 insurance companies and 4 banks committed to provide additional funding to Qredits in the amount of 45 million euros. With this new loan Qredits will have obtained 121 million euros in financing which they can in turn use to issue microcredit and SME loans. This funding will be sufficient to secure Qredits growth through 2016 en enable the organisation to annually issue 2,000 microcredit loans and 400 SME loans. Her Royal Highness Queen Máxima was present at the signing session.
Qredits is a national microfinance organisation founded in 2009 that has helped new and existing entrepreneurs to successfully start or expand their businesses. Apart from microcredit loans (up to €50,000) and SME loans (up to €150,000) Qredits provides personal mentoring and an array of business development tools. Through this combination of loans and business development services Qredits strives to promote entrepreneurship in the Netherlands.
