Frequently Asked Questions

There is no maximum amount you can get a loan for.

What does a business case include for loans below NAF. 50.000?

For loans below NAF 50.000 there is no need for a business case. Korpodeko’s business outline sheet serves for this purpose since it is a simplified version covering all necessary information.

What needs to be in business plan for loans above NAF. 50.000?

A business plan needs to include:

  • Business/ project description
  • Market & financial analysis
  • Product/service analysis
  • Strength and weakness (SWOT analysis)
  • Payback ability
  • Organizational Chart of the structure
  • Financial projection
  • Investment plan
  • Use of source

What are the interest rates for a loan at Korpodeko?

The interest rates vary based on the project/business, but it is usually between 5%-8%

7/8% for Small/Medium Business borrowing <ANG 150.000

Lower percentages for credits <ANG 150.000

What is the process to get a loan at Korpodeko?

The loan process is as follows:

  • Application form if necessary
  • Intake Meeting
  • Second Meeting if necessary
  • Submit deliverables
  • Make proposal
  • CC-Meeting
  • Board Meeting if Applicable

In the event that you want to apply for a loan, you can fill in the form below so you can come as prepared as possible to the intake meeting.

What type of loans does Korpodeko offer?

Korpodeko offers several kinds of loans namely:

  • Project financing: Term loan & Real estate development in the tourism sector
  • Indent order financing
  • Guarantees: Projects & working capital
  • Risk Capital: preferred shares & subordinate principle
  • Bonds & shares
  • Mezzanine

Where can I download the forms I need for loan application?

To access our applications please visit the application section:
Downloadable Documents

What is Mikro Fiansa?

Mikro Fiansa is a joint project with SOAW and MEO where credit and financial/ business education are merged together, seeking financial soundness in very small business, usually run from home, that uses this money as a boost in their business or sometimes for startup capital. These loans have a maximum of ANG5000 to be received in materials.

For more information visit the ‘Mikro Fiansa’ website

What are the requirements to apply for Mikro Fiansa?

The requirements for Mikro Fiansa are quite flexible. You may apply with a good business idea, or by operating a small business that is seeking a small budget and some coaching.

Do I need own input/ funds?

For loans above ANG 25.000, there needs to be a down payment of at least 20%.  Exceptions can be made if there is hard collateral.

What does Korpodeko consider as acceptable collateral?

Collateral needs to equal at least half of the amount of the loan. Which means Korpodeko considers a Loan to Value (LTV) ratio of 200%.

How do I apply for Sponsoring & Donations?

For all sponsoring & donation requests please send an email to: projectmamager@korpodeko.cw.

Remember to include: Bank account number, email address and a phone number.

How long does it take to get a loan approved?

After all the required documents have been handed in it will take approximately 2 weeks for Korpodeko to get back to you.

Should your proposal need to go to the board meeting, the aforementioned period can be extended, since the board meeting is only held once a month. The Development manager assigned to you will inform you if this is the case.

What additional documents might be asked?

For certain projects/business your development manager may ask you for more documents, usually these documents are:

– Salary slip
– Relevant permits
– Industry/market information
– Additional information about the company and/or its stakeholders

Do I need to start paying back immediately?

Clients can ask for a “grace period” However the reason for asking a grace period needs to be valid. For example; transportation of goods from another country or manufacturing.

Will I get fined if I want to pay my debt/loan off before the predetermined terms?

No, in the event that you wish to payoff your debt before the predetermined end date of the loan, Korpodeko will not charge you.

What are the conditions for applying for a loan? Do I qualify?

There is only one condition for applying for a loan at Korpodeko and that is that you or a legal representative are/is registered as a citizen of Curacao.

The aforementioned makes you eligible however this does not guarantee a loan.

What documentation do I need to bring?

By filling out the online form on the loans page, you will receive a personalized check list with the items you need to bring.

What is the difference between Korpodeko and a regular bank?

Korpodeko is a development bank, therefore we take more risks than a commercial bank. We also ask for less collateral and we value development over everything else.

Is the information I give confidential?

All information provided to Korpodeko is handled with extreme confidentiality.

What sectors are financed by koprodeko?

Korpodeko finances a lot of different sectors namely:

– Tourism
– Real Estate
– Green and alternative energy
– Farming & Fishery
– Heavy equipment, Machinery/Factory
– Beauty
– Snack
– Bus/ Taxi
– Macro Business and industries (Depending on some factors)
– Horeca (Small & Medium businesses general)
– Guarantee facilities
– Retail (only when there is hard collateral and/ or secondary income)

Do I need to make an appointment if I want to apply for a loan?

An appointment is needed to apply for a loan. However, you can come to the appointment prepared with all your documents by filling out the online form.

For what amount can I get a loan?

There is no maximum amount you can get a loan for.

Can I apply for a loan if I don’t live in Curaçao?

This is possible as long as you have someone representing you on Curacao. Since business needs to be locally established.