This is how Qred got started.

The story of a small business owner

Once upon a time, there was a young talented entrepreneur with the idea of starting a business. In the process of starting a business, everything was new and exciting. So this future entrepreneur first walked into the nearest bank to announce that he wanted to open a bank account for his new business, to which he wanted to deposit 10,000 euros.

He enthusiastically explained his plans for the business, after which the bank manager asked why the entrepreneur had chosen his bank. This surprised me momentarily, as the bank in question had just been chosen as the entrepreneurial bank of the year, but as a humble man, the entrepreneur announced his plans for business and announced that he had chosen that bank because it seemed like a good bank for a new business. After a 15-minute meeting, the Bank Manager indicated that the business did not affect the competence and therefore the company could not be eligible to be a client of the bank. The decision was quite a blow to the entrepreneur's face. How was that possible? He did not want to borrow money from the bank, but on the contrary deposit his share capital in the bank branch. Could the bank manager be right that he wasn't an entrepreneur? Fortunately, another bank was found that agreed to open a bank account and therefore the business could be kicked off.

The entrepreneur in question was me. Afterwards, I have learned that I was not alone, but that countless other entrepreneurs have been humiliated by banks. This is a very problematic issue, not only for the individual small business owner, but also for society more broadly at a time when more new entrepreneurs are needed than ever before.

Now, 15 years later, I am a person who is called a serial entrepreneur in the vernago. My passion is to build new companies that challenge old structures and practices. In the past, I have challenged the big players in the telecommunications and gaming sector, now it is the financial sector, where I see that the banks have built themselves an oligopoly that outsiders have no business with.

After many years of work, I have established contacts with good and knowledgeable bank managers, but for new entrepreneurs the situation is still difficult. Not to mention when a company needs capital for growth and business development. In principle, corporate loans can be forgotten if there is no history and turnover of at least one million years. If you are not familiar with a banker, you need a huge variety of documents - a business plan, a budget, financial statements and, of course, a comprehensive account with credit cards, insurance and pension savings.

We know that small businesses often have to turn to family or friends to fund their growth. Although banks are currently very profitable and interest rates are at historically low levels, lending to small businesses is decreasing. Great! There's room for new business here, I thought.

At Qred, we want to help companies grow. We want all companies to get the service and respect they deserve. Getting a business loan shouldn't be harder than buying a book online. With our smart, digital platform, an entrepreneur can submit their application in just a few minutes. We don't have an expensive office, we don't have a heavy organization.

We hope that we will be able to help many small entrepreneurs and make applying for a business loan easier than at present.

Emil Sunvisson, Ceo of the Group and founder of the company

Qred AB

‍