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Business Loan
Here you can find the answers to your questions about our business loan.
What is the interest rate on my business loan?
Your business loan is interest-free, meaning that the interest rate is 0%. Instead, an open-ended business loan is charged at a fixed, company-specific monthly rate. The monthly fee starts at 1.75%/month.
Apart from the monthly fee, you pay no other costs for your loan. We do not charge an opening fee or any other hidden costs.
We only charge an extra fee for a paper invoice (€5/invoice) if you want to receive a paper invoice. There is no charge for an e-invoice.
We only charge you for the time you have a business loan. If you want to repay your business loan early, you will save on the loan costs.
Can a sole trader get a business loan?
Businesses can apply for our business loans. We grant business loans to limited companies, general partnerships, limited partnerships and entrepreneurs operating under a trading name. The most important thing is that it is a business activity and the need for the loan is related to that activity. We do not lend to individuals.
Will there be hidden costs?
There are no extra charges for your business loan, no opening fee, no withdrawal fee, no account management fee and no other hidden charges.
When will the loan be paid out?
The loan will be paid out after we have received the (electronically) signed loan agreement. If you sign the loan agreement on a business day before 09:30, the money will be on your bank account within the same business day. If the loan agreement has been signed after 09:30 or on a weekend, the money will be on your bank account during the next business day.
Who can apply for a loan?
All limited liability business, partnerships, sole proprietorships / traders, and more can apply and be approved a loan. It can be a proud, old business, or a brand new startup, large or small. We work with businesses in virtually every industry, from north to south - even businesses with a checkered credit history can qualify. We evaulate each business individually - the key for us is that there is a solid business idea and qualified business owners behind the company.
How do I apply for a business loan?
Applying for a loan is very simple and quick. To apply for a loan, you can:
- Click the Apply now button and fill in an application. It takes only a minute.
- Within the next hour, we'll give send you an offer that is valid for 10 days.
- If you want to accept the offer you can sign it with your BankID.
Where can I download an expense report?
At the end of each billing cycle, you'll receive an email report detailing all your expenses for the month.
Is VAT added to the business loan expenses?
No VAT is added to business loan costs. As this is a financial service, the charges are VAT-free. In your own accounting, you can record the costs as financial charges. Read more about business loans!
Is there an additional invoice fee added to the business loans?
Nothing will be added if invoices are received by email or e-invoicing program. The invoice comes as an email attachment in PDF format, which is also supported by the most common e-invoicing software. If you wish, we can also provide you with a paper invoice, for which we will charge an additional charge of €5 per invoice.
What is the additional cost if I don't pay the invoice for my business loan by the due date?
If the payment is late, we will send you a written reminder. There will be an additional charge of €20 for late payment and interest for late payment. If the delay in payment continues, the business loan will be terminated and transferred to a collection agency, resulting in the payment of the external collection agency's fees.The most important thing is to contact Customer Service when you know that you will not be able to pay the invoice amount on the due date. Our customer service number is 09 - 424 503 99.
How do I pay back the business loan?
You will receive an invoice from us monthly by email or by mail if you wish. For example, if you take out the loan on the 5th day of the month, your first due date is on the 6th of the following month. The invoice has a 10-day payment term. Payments are recorded to the loan information according to the payment date. The invoice has a detailed amount of repayment and expense so that you know exactly what you are paying and can easily add this information to your company's books later. You can always see the current balance of your loan on Qred's website.
What information do you check when issuing business loans?
The most important thing for us is to understand the need for the loan and the current state of the business. Naturally, we also check the credit history of the company to ensure that there are no recent defaults by the company or its officers.
Which authority supervises the business loans?
Qred Oy, Finnish Branch is a company registered in the Finnish Trade Register (business ID 2868615-5).Qred Oy, Finnish Branch is part of the Nordic financial group Qred Bank AB, which has been granting corporate loans in Sweden since 2015, in Finland since 2016 and in Denmark since 2017. Qred Bank AB has been registered with the Swedish Financial Supervisory Authority since 2014. The company has offices in Stockholm and Helsinki.
How are Qred's business loans different?
We don't have expensive administration, heavy IT systems or old-fashioned ways of working. We can actually offer a service that is made for entrepreneurs, without all the historical baggage that banks have. Give us a chance to prove ourselves, we promise we won't disappoint your expectations.
What is Qred's business loan?
Qred's business loan is a flexible business loan tailored to the needs of small entrepreneurs, which we hope will help as many Finnish small entrepreneurs as possible. Qred offers clear, simple and fast financing for small businesses. All Finnish businesses can apply for a loan up to €200 000.
What does it take to get a business loan?
We grant business loans to companies whose details can be found in the Finnish Trade Register and whose responsible persons are resident in Finland.
Our assessment of the company is based on an overall assessment of the situation. Once we understand the need and the current situation of the company, we can usually help. We do not require financial statements, a cash flow statement or a business plan to be submitted when you apply for a business loan. You can, of course, attach a bank statement or details of future assignments, for example, to your loan application to get a quicker offer and improve your chances of getting a loan.
Where can I download an expense report?
At the end of each billing cycle, you'll receive an email report detailing all your expenses for the month.
Is VAT added to the business loan expenses?
No VAT is added to business loan costs. As this is a financial service, the charges are VAT-free. In your own accounting, you can record the costs as financial charges. Read more about business loans!
What is the interest rate on my business loan?
Your business loan is interest-free, meaning that the interest rate is 0%. Instead, an open-ended business loan is charged at a fixed, company-specific monthly rate. The monthly fee starts at 1.75%/month.
Apart from the monthly fee, you pay no other costs for your loan. We do not charge an opening fee or any other hidden costs.
We only charge an extra fee for a paper invoice (€5/invoice) if you want to receive a paper invoice. There is no charge for an e-invoice.
We only charge you for the time you have a business loan. If you want to repay your business loan early, you will save on the loan costs.
Is there an additional invoice fee added to the business loans?
Nothing will be added if invoices are received by email or e-invoicing program. The invoice comes as an email attachment in PDF format, which is also supported by the most common e-invoicing software. If you wish, we can also provide you with a paper invoice, for which we will charge an additional charge of €5 per invoice.
What is the additional cost if I don't pay the invoice for my business loan by the due date?
If the payment is late, we will send you a written reminder. There will be an additional charge of €20 for late payment and interest for late payment. If the delay in payment continues, the business loan will be terminated and transferred to a collection agency, resulting in the payment of the external collection agency's fees.The most important thing is to contact Customer Service when you know that you will not be able to pay the invoice amount on the due date. Our customer service number is 09 - 424 503 99.
Can a sole trader get a business loan?
Businesses can apply for our business loans. We grant business loans to limited companies, general partnerships, limited partnerships and entrepreneurs operating under a trading name. The most important thing is that it is a business activity and the need for the loan is related to that activity. We do not lend to individuals.
How do I pay back the business loan?
You will receive an invoice from us monthly by email or by mail if you wish. For example, if you take out the loan on the 5th day of the month, your first due date is on the 6th of the following month. The invoice has a 10-day payment term. Payments are recorded to the loan information according to the payment date. The invoice has a detailed amount of repayment and expense so that you know exactly what you are paying and can easily add this information to your company's books later. You can always see the current balance of your loan on Qred's website.
What information do you check when issuing business loans?
The most important thing for us is to understand the need for the loan and the current state of the business. Naturally, we also check the credit history of the company to ensure that there are no recent defaults by the company or its officers.
Which authority supervises the business loans?
Qred Oy, Finnish Branch is a company registered in the Finnish Trade Register (business ID 2868615-5).Qred Oy, Finnish Branch is part of the Nordic financial group Qred Bank AB, which has been granting corporate loans in Sweden since 2015, in Finland since 2016 and in Denmark since 2017. Qred Bank AB has been registered with the Swedish Financial Supervisory Authority since 2014. The company has offices in Stockholm and Helsinki.
Will there be hidden costs?
There are no extra charges for your business loan, no opening fee, no withdrawal fee, no account management fee and no other hidden charges.
How are Qred's business loans different?
We don't have expensive administration, heavy IT systems or old-fashioned ways of working. We can actually offer a service that is made for entrepreneurs, without all the historical baggage that banks have. Give us a chance to prove ourselves, we promise we won't disappoint your expectations.
What is Qred's business loan?
Qred's business loan is a flexible business loan tailored to the needs of small entrepreneurs, which we hope will help as many Finnish small entrepreneurs as possible. Qred offers clear, simple and fast financing for small businesses. All Finnish businesses can apply for a loan up to €200 000.
What does it take to get a business loan?
We grant business loans to companies whose details can be found in the Finnish Trade Register and whose responsible persons are resident in Finland.
Our assessment of the company is based on an overall assessment of the situation. Once we understand the need and the current situation of the company, we can usually help. We do not require financial statements, a cash flow statement or a business plan to be submitted when you apply for a business loan. You can, of course, attach a bank statement or details of future assignments, for example, to your loan application to get a quicker offer and improve your chances of getting a loan.
When will the loan be paid out?
The loan will be paid out after we have received the (electronically) signed loan agreement. If you sign the loan agreement on a business day before 09:30, the money will be on your bank account within the same business day. If the loan agreement has been signed after 09:30 or on a weekend, the money will be on your bank account during the next business day.
Who can apply for a loan?
All limited liability business, partnerships, sole proprietorships / traders, and more can apply and be approved a loan. It can be a proud, old business, or a brand new startup, large or small. We work with businesses in virtually every industry, from north to south - even businesses with a checkered credit history can qualify. We evaulate each business individually - the key for us is that there is a solid business idea and qualified business owners behind the company.
How do I apply for a business loan?
Applying for a loan is very simple and quick. To apply for a loan, you can:
- Click the Apply now button and fill in an application. It takes only a minute.
- Within the next hour, we'll give send you an offer that is valid for 10 days.
- If you want to accept the offer you can sign it with your BankID.