PHILIPSBURG:--- Last March in response to the Covid-19 crisis Qredits Microfinance offered all her customers a six-month grace period at a reduced interest rate of 2% to help preserve their liquidity. Since the economic effects of this crisis are long but over Qredits has announced an extension of this grace period for six more months at the same reduced interest rate of 2%.
Since March over 235 customers on St. Maarten (and Saba and St. Eustatius) have already benefitted from this special arrangement. The social lender now offers all her customers another grace period of six months again at only 2% interest.
‘Over the past three years, we have actively supported local entrepreneurs on the SSS Islands through credit and help with business plans. We feel this current special arrangement is very important to support these small businesses as they continue to feel the effects of the COVID-19crisis. This way none of their liquidity has to be used to pay off the loan!’ stated Elwin Groenevelt, Qredits CEO.
All that needs to be done for customers to take advantage of this new grace period is to update the current standing order at their local bank. If customers prefer to start making payments on principal again, they are asked to contact their lending advisors at the local Qredits office, now located at W.J.A. Nisbeth Road #15 or by notifying them via email at This email address is being protected from spambots. You need JavaScript enabled to view it..
