Business loans to individual companies

How do I find a loan for an individual company?

As an individual company, you have different types of challenges than those who are employed or run, for example, limited companies. You are often solely responsible for the company and its operations. The need for financing arises in the vast majority of companies. Especially in a start-up business or when the company is growing.

At Qred, we work with talented entrepreneurs in all industries. Many of them are individual companies. When the need for temporary liquidity arises, it is good that we exist. It takes just one minute to apply for our corporate loans for individual companies, and you can have money in your account the same day. In addition, applying for a loan is completely free and, of course, not binding. You decide for yourself if you want the business loan by agreeing to it with your BankID.

How long do I need to have had my individual firm to get a business loan?

It doesn't matter how long you've had your business. We also lend money to start-ups. The important thing is that the company has a cash flow that allows you to repay the loan. Never take out a larger loan than you can handle and think carefully about how the money will be used.

Which industries can get corporate loans for their individual firm?

We lend money to companies in all industries. Sometimes we get applications from companies in industries we didn't even know existed. We think it's fun!

Loans to individual companies are one of our specialties. We have lent money to restaurants, carpenters, hairdressers, taxis, dentists, lawyers, gyms, consultants, kiosks, pizzerias, cafes, workshops, musicians, photographers, dog daycare, food trucks, bike dealers, pilots, masseuses, IT experts, car washes and much more. Give us a call and tell us what your company is doing!

Individual trader

A sole proprietorship is also called a sole trader (that is the more formal term). If you are an individual trader, you are personally responsible for keeping all contracts and paying debts. In contrast, one must distinguish between one's private economy and one's corporate finances. The personal identity number becomes the company's corporate number and the owner is called the holder. Therefore, should you apply for a business loan, you simply enter your social security number, which is also your organization number. However, you may not use the business loan for private purposes.

Requirements for individual firms

If you want to register as an individual trader, you must not be bankrupt, have a business ban or have trustees according to the parent register. You can easily register at Verksamt.se by following their steps.

Advantages of an individual firm

It is very easy to start an individual business. You don't have to be 18 years old, it's enough to be 16 years old. However, permission from a guardian is required to start an individual company before one is of legal age. They also do not have as high standards when it comes to accounting. However, one must always have the calendar year as the fiscal year and the annual turnover does not exceed 20 price-base amounts, there is no need to draw up any annual accounts or annual accounts.

Disadvantages of sole proprietorship

If things go bad for the company, all private assets of the owner are used to pay the company's debts. It is a big risk as you can get rid of housing, vehicles and other assets. The holder is solely responsible for all decisions but can sign a power of attorney stating clearly what rights the proxy holder has. Keep in mind that you must notify a manager of the business if you settle abroad. However, you still have all personal responsibility even though you are not in Sweden or physically involved in daily activities.

When your EF gets too big, the answer is usually - limited liability companies

Sometimes it can be that you grow out of the costume. You may get a lot of employees, assignments or otherwise want to create growth in your company. Then it may be time to move to a different form of company. The most common is joint-stock company. When the individual company has become so large that laws and regulations require accountant, etc then it is beneficial to move to limited liability companies as a form of corporation.