You have your business or are planning to start one. You’ve invested your energy, capacity, and resources into your business and you’ve reached a point where external financing may be needed. We are here to lend you the necessary funds to help you fulfill the needs of your business.
Types of loans
In order to qualify for financing, a new project or existing business must:
1. Create or sustain employment;
2. Substitute imports or promote exports and as such improve the Balance of Payment of Curaçao;
3. Be innovative and/or contribute to the expansion of the economic base of the island.
While Korpodeko finances a wide range of projects, the following categories cover mostly all the types of loans given.
Project Financing: Term Loan & Real Estate Development (tourism sector)
Project Financing in the form of Term Loan and construction loans are project that entail two faces:
a. A construction phase;
b. An operation phases.
Phase A is self-explanatory and phase B is where A is completed and becomes operational produces cash flow/income to serve the term loan in our books.
Indent order financing
Indent order financing are short term financing usual varying from a week to 3 months. Considering that Korpodeko does not finance working capital, costumers that have short term order/work to be delivered and or completed can get the cost of such order/work financed against a fee and or interest charges. This format of financing is usually very supportive of small and medium size business that don’t have the working capital to pre-finance their order and or contracts engaged.
Guarantees: Projects & working capital
While not fully developed and rarely issued, Korpodeko issues guarantees for client that need a working capital facility to properly serve their specific business. These guaranties issued to their bank of preference is only considered for client with a facility with Korpodeko. Bid Bond and project implementation guarantees to contractors are extended as a means for companies to complete their requirements in order to assure their contractual engagements.
Risk Capital: Preferred shares & subordinate principle
Depending on the economic impact of the project Korpodeko can become shareholder (prefer shares only) or quasi shareholder (subordinate debt) the requirements are usually regularly reviewed base on their macro-economic impact and the engagement usually for a sum NAf 500.000 or more where project developers has substantial own equity input. The terms of this facility never exceed 5 years.
Bonds
Bonds are company debts instruments where we can invest to support specific engagements of companies for an amount usually not less than NAf. 500.000 and short term no longer than 5 years.
Mezzanine Financing
This type of facility are loans with convertible option. The extended loan can be converted at the call of Korpodeko into equity participation or vice versa.
While the concept is readily applicable for different loan types, this model of financing is primary applied for technological financing or sustainable technology projects that are best served with this alternative financing format.
Venture Capital Fund/Fund me platform
While not in place yet, Korpodeko is actively pursuing the application of these products to the market. Legal and regulatory consideration have been reviewed and in due course the engagement of the proper partners will have to be considered.
Apply for loan
In case you need more specific information regarding your loans, it is advisable to arrange an appointment with one of our Development Managers. Our development managers are well equipped to assist you in completing the Business Outline Sheet, which will help you structure your ideas and help us to get a clearer picture of your plan.
Before scheduling an appointment with our development managers, it is important to fill out our digital form to assure that you are fully prepared during your meeting.
Additional information
If you are simply in need of some general information, such as: what is the loan application process, what are the applicable interest rates and what should be included in a business plan, please refer to our FAQ’s.