Responsible lending

Responsible lending and business loans mean to us that we really care about your company's condition and ability to pay in relation to a future loan. It is in our best interest to avoid overlending and a situation where your company fails to meet its payment obligations.

Our Financing Principles

The need to use the loan

We provide loans to Finnish companies through our online service. The purpose of the loan must be related for further development of the company. So we do not lend to individuals or entrepreneurs who have the idea of using the funds for their own consumption. Since we only issue loans to companies, we make a creditworthiness assessment, as a rule, on the basis of company data.

When starting a business, money is naturally needed, but it is equally neededmaintaining competitiveness and potential investment. Whatever the need (in addition to the previous ones, for working capital, hiring staff or workers, equipment and various equipment...), it must not exceed the company's ability to repay.

Loans we offer loan periods are quite short (1-18months), so it is absolutely essential that the company has cash flow already when taking out a business loan. In this way we will avoid problems with the repayment of the loan, when the business loan can be repaid from the cash flow of the company in the coming months. Of course, we do our best to help start-up companies as well, but then we usually have to go through more carefully the estimates of future cash flow and the possible risks and options for the failure of the plans as such.

Loan repayment

Already in the loan application phase, we try to go through the loan repayment schedule with the applicant. It is important to internalize the size of the monthly installment so that it does not come as a surprise later. We try our best to avoid any surprises for the customer. That is why we go through the contract thoroughly with the client and jointly agree on all expenses and schedules. We therefore promise that on the prices of our corporate loans We do not include any expenses other than the fixed monthly fee that we agreed with the customer. We charge a small additional fee (€5) for the paper invoice and €20 for the payment reminder. However, if it is so unfortunate that the repayment of the loan is transferred to collection, we will charge 50€ for the notice of termination of the business loan. Here are all our extra expenses honestly presented.

If you obtain a business loan from Qred Bank AB for a term of 8 months but decide to repay it in 5 months, you will not incur any additional costs. In fact, you will benefit by only paying the monthly expenses for the actual months the loan was active, rather than for the entire originally planned period. We believe this approach is fair.

Increase in business loan

If the repayment of the business loan we have granted goes smoothly and remains on schedule, we can negotiate with the customer to increase the loan amount. This means that we grant the customer an additional loan Often to the level the customer would have wanted it to be. and we will replace the previous contract with a new one. Our former clients are important to us and this applies to them as well. If an earlier loan payment has gone as planned, they have a good basis to negotiate for themselves (even) better terms for their new loan.

Here's how to fill out a business loan application

Not interested in knowing how much our business loan should cost you? Ask for an offer, it doesn't commit you to anything. You will then have a week in peace to think and decide what you will do. We also encourage you to compare different business loans with each other and explore different loan offer terms and price lists. If you do not find them on the websites of service providers, you can draw your own conclusions from this too.

Asking for a loan offer costs nothing

Qred

Short-maturity corporate loans, such as those offered by us at Qred, are a fairly new financial product for businesses to use. The product is quite different from corporate finance in the traditional banking world.

As an entrepreneur, you have probably used your bank in the past when there was a need for a business loan. The bank, logically speaking, should have nothing against issuing your business loan considering that sometimes even your personal money traffic passes through the vaults of your bank. It is curious why banks have set such high barriers to making a business loan. Even just getting a decision from the bank as to whether or not to get that business loan often takes a couple of weeks assuming, of course, that before that you have had time to submit all the necessary paperwork to the bank.

Fortunately, there are options for entrepreneurs. This could be seen as motivating banks to develop their services to be more entrepreneur-friendly. Qred is the fastest growing corporate loan finance company in the Nordic countries. The money we borrow is, as a rule, our own funds, which we have accumulated through our own business activities. We now want to use them to grow your business. So let's put the money around and the stroller spin!

As soon as the first stage of your business has been completed and your business idea seems to work, we can offer you our business loan without collateral. If you complete this non-binding application found on this page, we promise to send you a reply promptly. If you think it is appropriate and you are willing to accept it, you can sign our offer electronically right away. We will make a bank transfer to you immediately, in which case the money will be in your account, depending on the bank, either immediately or within about one business day.

We offer small entrepreneurs unsecured corporate loan, inexpensively and quickly. Our knowledgeable and friendly financial advisors (call 09-424 503 99) will surely find the best with you

What we expect from a loan applicant

After contacting us, we will of course check the information you provide (income, turnover...), but we will not ask for the actual financial statements or other attachments. On our website there is an opportunity at the time of application to attach them to your message, but that is up to you. Their existence will help us process your application faster.

Your company should be registered in the Finnish Trade Register. The state of your business should be active and not have payment defaults. You provide a personal guarantee of the loan with your electronic bank numbers when accepting the loan.

What is the reason for a negative loan decision?

We try to find out as best we can the turnover situation of each company that applies for a loan from us, so that the loan repayment goes as planned and no nasty surprises appear. In our loan decisions, we therefore take into account all of the above factors, each of which has its own impact on the price of the loan. If the loan decision you received is negative, the reason may have been due to these or the following issues related to your creditworthiness:

• If it is determined that the turnover of your company does not cope with the payment of the monthly installments of the loan you are applying for.
• Your company's capital has been spent
• Your credit information is marked with a delinquency note
• There were major difficulties in repaying your previous loan
• Your company has many other loans in the past