Microcredit: loans up to €50,000
- KVK Editors
- The basis
- Edited 13 January 2023
- 1 min
- Managing and growing
- Finance
With a microcredit of up to 50,000 euros you can achieve your dream and start your own company. Or you use the loan for expansion or an acquisition. We list what you should pay attention to when applying for a microcredit.
Applying for a small loan through a bank can be difficult. The Qredits Foundation is an independent financier especially for (starting) entrepreneurs. Qredits looks at your plans through a positive lens. And helps with microcredit, coaching, and tools.
What is microcredit?
A microcredit is a loan of up to 50,000 euros for starting and existing entrepreneurs. For freelancers and SMEs. The term of the loan is 1 to 10 years.
Coaching and tools
Qredits offers (free) coaching when you apply for credit. For example, the coach helps you with advice on marketing and sales, or finance and administration. Are you looking for a coach to help you write your business plan? Then you pay a fee. And Qredits has free tools for your business plan, such as a template and a (digital) course.
Applying for microcredit
To apply for (in Dutch), you need a thorough business plan. It does not have to be 30 pages long, but it should clearly outline your plans. Your business plan should also include a detailed financial plan. Finally, you also have to demonstrate entrepreneurial skills, such as commercial insight and perseverance.
Lower interest rates for social entrepreneurs
If you run a business with social or community objectives, you may be eligible for a credit for social (in Dutch). This will lower the interest rate you have to pay on your microcredit loan. To qualify, you have to meet several criteria:
- The main objective of your business is to have a social impact. You have set concrete, quantifiable social objectives. These objectives have a social impact and solve a social, environmental, or community problem.
- Your business is not just about organising a one-off event.
- You reinvest most of the profits from your business into achieving its social objective.
- You participate in an annual survey, sharing the social results you have managed to achieve with Qredits.
Increase your chances of funding
Review the evaluation criteria before submitting your credit application. If you find that your score for a particular criterion is not high enough, adjust your business plan or operations or explore alternatives in advance.
Enlisting help will increase your odds of obtaining funding, credit, or a loan. With the right adviser and a good financial rationale, you are more likely to get your application approved. These advisers will help you get started.
More types of financing
Visit our overview of Alternative financing options for more ways to get money for your business. You can also watch our video on financing your business. It explains how to get financing for your business and what steps you need to take.
