We at Qred Bank AB have developed a policy to avoid companies putting themselves in a situation where they cannot repay their debts. Below we describe how best to use a business loan, when one should refrain from taking a loan, as well as what happens if one cannot manage one's obligations.
Fast and easy online business loans are a relatively new service on the Swedish market. This means that companies no longer have to go to the bank or to friends and acquaintances to borrow money. The application is simple and takes only a few minutes, and the money is usually paid out already on the same day. The service has been highly appreciated and is available for small companies that want to become large companies.
We make a detailed credit report for all applications that we weigh together with external information from various sources with any internal information and previous loan and payment history. It leads us to be able to make a better assessment of the borrower to avoid getting into difficult situations.
We only address companies and never individuals. We do not require collateral from the company, but require personal guarantee from all new customers.
We set individual limits on how much each company can borrow. Depending on how your business develops and depending on how you manage your payments, the loan ceiling may change.
Qred applies responsible lending. Of course, you need to think before applying for a loan, whether it is a small business loan from Qred or a larger loan from a bank. There are many good reasons for taking out a business loan, but there are situations when you should avoid taking out a new loan. If you follow these simple rules, you will avoid many risks.