As part of Financial Inclusion where access to appropriate, affordable and timely financial products and services from our bank should be available to all, we are introducing VCB Microfinance.

The VCB Microfinance is specially intended for self-employed people and starting entrepreneurs. Tailor-made financing for those who want to take the next step in realizing their dreams. The purpose of this Microfinance is to finance people who intend to start their own business or who have already started their own business, and do not (yet) have any collateral, but do have a solid business plan or idea for it, in order to achieve their goal.

The VCB Microfinance can be used for, among other things:

• Setting up the company
• Purchase of production equipment

The maximum loan amount of the VCB Microfinance is SRD 50,000 with a term of 3 years.

The applicant will have to meet the following conditions:

• The entrepreneur has been banking with the VCB for at least 2 months. This allows us to derive business income.
• The company must be registered at the Chamber of Commerce and Industry
• The necessary Business Licenses (except for non-licensed professions) must be in order
• A Business Plan is written (possibly in consultation with the Bank) for the period of 5 years. This must show that the microfinance activity is profitable and sustainable. This does not apply to the liberal professions.
• The applicant must have no other employment, or the applicant must intend to make the business to be established or the practice of the profession a primary source of income.
• Have reached a minimum age of 21 years
• Have the Surinamese nationality (or be a resident of one of the Caricom member countries).

What else is needed to apply for this credit?

• If necessary, one or more security deposits,
• Life insurance for the borrower(s)/borrower(s);
• No collateral is required, but Fiduciary ownership is required on inventory of goods, inventory, machinery and/or vehicles, until settlement of the loan;