Dutch-based Qredits signs new €15M credit facility with ING Nederland

Overijssel, the Netherlands-based Qredits, a microfinance institution, has signed a new credit facility of €15M with ING Nederland.

Elwin Groenevelt, CEO of Qredits, made the official announcement on LinkedIn through a post.

“After a three-year absence, ING is fortunately part of the financiers of Qredits again,” says Groenevelt. “ING Bank was one of the founding partners of Qredits in 2008. And the bank has been referring many entrepreneurs to Qredits for years. That is why it was a pity that ING no longer wanted to be part of the club deal of a syndicate of (major) banks in 2021. Fortunately, this phase is over and this signing of this deal was one of my best last actions as CEO of Qredits.”

Qredits: National microfinance organisation

Founded in 2009, Qredits is a national microfinance organisation that has helped new and existing entrepreneurs start or expand their businesses.

The organisation is financed by the Ministry of Economic Affairs, Dutch commercial banks and the European Investment Fund, the European Investment Bank, BNP Paribas, and the Council of Europe Bank.

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.

Qredits has developed into the leading alternative financing channel for entrepreneurs in the Netherlands with more than 40,000 loans disbursed for a total of €800,000,000.  

The organisation has 150 professional employees and in addition, works with over 600 volunteer coaches.

Through this combination of loans and business development services, the company aims to promote entrepreneurship in the Netherlands.