What is a business loan?
A business loan is a financing solution for companies that need capital (money) to cover various needs.
Types of corporate loans
There are different types of business loans. Depending on your business and your needs, certain business loans may work better or worse.
Corporate loans online
Qred offers business loans online. So you don't have to go to a physical bank branch to meet someone at a specific time. All you need to do is apply on our website and you will receive a response within an hour. The money will be paid the same day you sign the offer - completely digitally!
Traditional big banks
Traditional large banks still have local branches where you need to make an appointment to meet an adviser. It can then take several days or even weeks to get an answer, and the application process is often very time-consuming.
Benefits of a business loan from Qredi
You'll get world-class personal service, and you can do everything from applying to getting money into your account completely digitally - in just a few hours!
- No start-up fees
- Non-binding loan term
- Free and non-binding application
When should you consider a business loan?
A business loan can be considered in a number of different situations. It can be used to help with temporary downturns or to make investments and help your business grow. Whatever your reason for being an entrepreneur, Qred is here for you.
How does the business loan application process work?
With Qred, it's as easy as ordering a book online. Fill in your details, such as the amount you want to borrow, contact details, etc. It only takes a few minutes. Within an hour, a processor will contact you with either a follow up or a quote. The money will be paid the same day you sign the offer. Done!
Requirements for applying for a business loan
You must be a Finnish citizen, have a Finnish bank account and have lived in Finland.
Documentation required for a business loan
Once you have submitted your application to us, we will run a credit check and start collecting documentation automatically. However, you can always choose to attach the necessary documents directly to the application or send them manually later.
Interest and charges on a business loan
At Qred, we want to make things as simple as possible. That's why we've decided to use a fixed monthly payment as the cost of the loan. So you know exactly what you're paying each month. We also have no initial fees or other hidden charges for early repayment or similar. In fact, we encourage you to pay back your loan early! That's why our loans have no commitment period.
Common types of interest rates for corporate loans
Other common types of interest rates and charges on business loans may include origination fees at the beginning of the loan term, management fees and other types of interest or hidden charges that you should be aware of. Make sure you calculate the cost of a business loan. Business loan calculator - try our calculator!
Options for a business loan
There are several options for a business loan. It depends entirely on you and your business needs. If you have many small, everyday expenses, a business card may be a good option. If it's more about cash flow, factoring and invoice sales can be a good solution. Some banks and lenders also offer overdraft facilities. It can be a good option if you want a secure back-up that you can use when you need it.
How to find the best business loan?
Often people have a "home bank", often one of the traditional big banks, for their personal finances, such as a mortgage, an account, etc. Many people keep their personal and business finances separate. This is where Qred can offer a world class personal service!
What to compare when choosing a business loan
There are many things to consider when choosing a business loan.
- Don't borrow if you already have too much debt.
- Don't borrow if you know you will have trouble paying back.
- Don't borrow to make risky investments.
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