What are business loans?
A business loan is a financial solution for companies that need capital (money) to cover various needs.
Types of business loans
There are different types of business loans. Depending on your business and needs, different types of business loans may work better or worse.
Business loans online
At Qred, we offer business loans online. So you don't have to go to a physical bank branch to meet someone at a specific time. All you have to do is make an application on our website and you'll get an answer within an hour. The money is paid out the same day you sign the offer - completely digitally!
Traditional big banks
The traditional big banks still have local branches where you have to make an appointment to meet an advisor. Then it can take several days or even weeks to get an answer and the application process is also often very time-consuming.
Advantages of a business loan from Qred
In addition to a world-class personalized service, you can do everything from applying to getting the money in your account completely online - within hours!
- No entry fee
- No binding time
- Free and non-binding application
When to consider business loans?
There are several different situations where you can take out a business loan. It can be to cope with a temporary slump or to invest in something and create growth in your business. No matter what reason you have as an entrepreneur, Qred is here for you.
How does the application process for business loans work?
With us at Qred, it's as easy as ordering a book online. Fill in your details such as desired loan amount, contact details, etc. It only takes a few minutes. Within an hour, an agent will contact you with some follow-up questions or a offer. The money is disbursed the same day you sign the offer. Done!
Requirements for applying for a business loan
You must be a Swedish citizen, have a Swedish bank account and be resident in Sweden.
Documentation required for the business loan
Once you have submitted an application to us, we take credit checks and start collecting documentation automatically. However, you can always choose to attach what you have directly to the application or choose to submit it manually at a later stage.
Business loan interest rates and fees
At Qred, we want to make it as simple as possible. Therefore, we have chosen to have a fixed monthly fee as the cost of the loan. So you know exactly what you will pay each month. We also have no start-up fees or other hidden fees for early repayment or similar. In fact, we encourage you to pay back early! That's why our loans have no lock-in period.
Common interest rate types for business loans
Other common types of interest rates and costs for business loans may include set-up fees at the beginning of the loan period, administration fees and other types of interest rates or hidden costs that you may want to be aware of.
Alternatives to business loans
There are several different options for business loans. It all depends on what you and your business needs are. If you have a lot of small and everyday expenses, a business card can be a good option. If it's more a question of cash flow, factoring and selling invoices may be the way to go. There are also a number of banks and lenders that offer line of credit. This can be useful if you want to have a safe security that you can use when needed.
How to find the best business loan?
Most people have a "house bank", usually one of the traditional major banks, for their private finances such as mortgages, accounts, etc. Many people find it nice to separate their private finances from their business finances. At Qred, we can offer a world-class personalized service!
What to compare when choosing a business loan
There are many things to consider when taking out a business loan.
- Don't borrow if you already have too many debts.
- Do not borrow if you know you will have difficulty paying back.
- Don't borrow to make opportunistic investments.
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