Applying is free and not binding
No hidden costs or start-up fees
It is very rare for business loans to be granted without personal guarantee or collateral.
The application takes only 1 minute, you receive a reply within 1 hour and the money is paid out the same day. Great, huh?
Simple! You make a free and non-binding application with us at Qred. Here's how it works:
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Apply for a business loan quickly, safely and easily
A business loan or a business credit does not really require any form of security or pledge. However, it is something that almost all lenders require in order to issue a credit, especially when it comes to small and medium-sized companies. There are a number of different types of guarantees, but in this post we will only go through personal guarantees. So that you can understand what unsecured business loans are all about.
When you give a personal guarantee for a loan, it means that you are vouching for the company. You simply take it upon yourself to pay if the company is unable to repay the business loan. This is called personal liability and means that the creditor, i.e. the lender, can be sure of getting its money back even if the company goes bankrupt. In other words, unsecured business loans are quite rare.
Common requirements for guarantors are:
The lender will check the person who has been named as a personal guarantor and although some people will tolerate a payment history, few will accept a personal guarantor with a debt balance. It is therefore important that both you, the guarantor, and possibly the person acting for your company are aware of your financial situation. Both the personal and the company's finances.
A major advantage of using a personal guarantee for a business loan is that you can get better terms, either linked to the amount of the loan, the cost or the duration. If you are applying for a larger business loan or want to get even better terms, you can get several people to act as personal guarantors. This spreads the risk for the lender.
It is simply that you, as a private individual, vouch for the loan and the company's ability to pay. Your personal finances may be adversely affected if your company has difficulty repaying loans, invoices and debts. Think about whether this is something you can do and whether you should sign an agreement with any partners or associates.
Tips! Read the article Partnership agreement
When it comes to business loans, the most common type of relationship is a mortgage. This type is the only one where multiple guarantors are allowed. What may seem tough is that the lender can choose to call on anyone they want for the debt. In other words, they don't have to take any account, other than a moral one, of the financial situations of the different people.
If you and your company are taking out a small business loan, some lenders will accept a simple guarantee as security. The process for a simple guarantee is that the lender must submit the debt to the Enforcement Agency to allow them to investigate the company's ability to repay the loan. If the bailiff does not think that the company can repay the debt in money, property or anything else, then the lender can ask the guarantor to repay part or all of the debt.
So unsecured business loans are very rare. Banks and lenders often require some form of collateral. Contact us if you are unsure what this means for your particular business in the case of a business loan.
A business loan can help your business, whether you want to invest in growth or need working capital.
Qred's business loans are for all small businesses, whether you are a sole trader, limited company or trading company. Our loans can cater to your business needs small or large, with loan amounts ranging from 10,000 SEK right up to 2 million SEK!
Fill in a quick and easy application to get a free and non-binding loan proposal for your business.
After you apply, we'll get back to you within an hour. You'll then see your company's specific loan offer and what the monthly fee will be.
If you choose to accept the offer, you simply sign with your BankID and receive the money in your account the same day!
If you no longer need the loan, you can repay the full amount at any time without extra costs.
With a business loan from Qred, the only cost of the loan is a fixed monthly fee. The monthly fee is determined individually based on the size of the loan and your company's creditworthiness. To see what your exact monthly fee will be, fill out a non-binding loan application here
Not sure if a business loan is right for your business? Check out our other services and products.
Getting a loan for your business, no matter how old or large, shouldn't have to be too difficult.
We understand that things can happen in the life cycle of a company. That's why we can often offer grace periods for a limited period of time. So, as long as you pay the fixed monthly fee each month, you may, in some cases, be able to pause your instalment payments to us.
Mistakes can happen. You might be late with a bill or miss something during your holidays or tough times in life. It shouldn't be an obstacle to looking ahead and growing your business.
Even if you or your company happens to have a payment record, Qred can help you with a loan. It all depends on the nature of the note, when it was issued, why and what the situation is in your company.
There are a number of things to consider when applying for a business loan.
There are many questions and at least as many answers. It is only healthy to ask many questions and analyse the state of your company and your finances.
As a business owner, you already know that there are many things that cost money, such as paying taxes and fees, marketing costs, supplier invoices and other things needed to keep you afloat.
One thing that is often forgotten is that there are an incredible number of opportunities and good locations for growth.
Be clear about what you will use the loan for. For example, if you need to buy a machine for 100 000 SEK and are applying for the same amount, we might ask if you have any money to invest. If you have 30 000 SEK to spare, we can suggest 70 000 SEK to match your 30 000 SEK.
Perhaps your business could do with a little extra investment in stock for the high season, a little marketing or building that outdoor terrace you've always dreamed of to attract guests in the summer?
Qred believes in transparency, innovation and passion. If you're open about the status of your business and what you're going to use the loan for, we can more easily determine the loan amount and term you should have. If you clearly show how innovative your business is, we can do that too. And if you show how passionate you are about your business, that rubs off on us too.
If you have any problems paying the fee this month - get in touch!
It's much easier to change a repayment plan if we have that information. So don't bury your head in the sand and get in touch if you're having trouble sticking to the payment plan. Then we can always adjust the payment plan a little.
Why are our loans fast? Firstly, it's quick to apply. All you need to fill in is the desired loan amount, email, mobile number and company registration number.
It takes about 1 minute to apply. Secondly, we're quick to let you know. If you apply during our opening hours, you will receive a reply within 1 hour. If everything looks good, you approve the offer with your BankID. Then we'll pay out your money the same day.
Simplicity really goes hand in hand with speed. With us, you don't need to attach balance sheets, profit and loss statements, business plans and annual reports.
With us you can feel safe. You log in, sign and authorise via BankID. We take care of your data and use the same security solutions as the world's leading banks. All communication between Qred and your browser is encrypted with 256-bit SSL verified by Geotrust, a world leader in online security.
You can feel safe when you use Qred and see the green address bar - just like your bank. We also care about your privacy and only save the data that is necessary by law or to provide better loans to your business. We never store any passwords and you can contact us at any time to find out more.
There are as many reasons why you might need a business loan as there are entrepreneurs in Sweden - very many! You might think that most people take out a loan to save their business when they're on the brink of ruin. It couldn't be more wrong.
Most companies that take out loans for their business with us do so to grow their businesses. Of course, there are different ways to do this, but here we list some of the most common uses:
As a small business owner, you may not be the one getting all the attention on the business news every night. We hear about Volvo, IKEA, H&M and other big Swedish companies. But the fact is that it is you small business owners who contribute most to welfare and the development of society.
4 out of 5 jobs are created by small entrepreneurs and the vast majority of Swedish companies have no more than 20 employees. In addition, you contribute social security contributions, employer's contributions, VAT and other taxes to society so that Sweden can continue to grow and be a successful country and stay at the forefront.
Perhaps you are about to test an untested product, service or market? We are small business owners ourselves and have many staff who are or have been entrepreneurs and will assess your business idea. During the phone call with us, we'll ask a few questions about why you need a temporary infusion of capital, etc. Especially if you are a start-up, how likely is it that your business will start generating revenue within a few months? This will help us to assess whether someone who has been working as an employed carpenter for several years, has now started their own business and can start generating income at a rapid pace. Often that person already has a network of contacts and craftsmen are an established and secure industry.
Vi får ibland frågor om hur man bokför ett lån från Qred. Våra lån är kortfristiga (d v s <12 månader) och ska bokas på ett 28-konto, t ex 2840.
The fixed monthly fee is therefore booked to an 84 account, e.g. 8420. A business loan from Qred is booked in the same way as a short-term bank loan. If you are unsure, you should consult an accountant or auditor. Find out more about the partners who can help you with your bookkeeping.
We get many questions about how to record business credit. Many small businesses handle their own bookkeeping and wonder how to record business loans. Recording is easy if you use an accounting system such as Fortnox, Visma, Speedleger or SPCS, and below is an example.
Most of our loans are short-term (those under 12 months) and should be booked in a 28 account, e.g. 2840. Those over 12 months, however, are no longer considered short-term. They should be recorded in account 2390 (Other long-term liabilities). When you receive the loan in your company's bank account, you can record it according to the following example:
Debit Credit 1930 Business account 120 000 SEK 2840 Other current liabilities 120 000 SEK
An amortization reduces the debt account, the monthly fee and any interest on arrears and late fees are recorded as an interest expense, for example as follows:
Debit Credit 1930 Business account SEK 24 000 2840 Other current liabilities SEK 20 000 8420 Interest expenses on current liabilities SEK 4 000
The monthly fee is booked as an interest expense on an 84 account, e.g. 8420.
The business loan/credit is recorded in the same way whether you use the business loan for salaries, inventory, investments or anything else.
If you are unsure, you should consult an accountant or your auditor.
We love small business owners and the impact you have on our community. 4 out of 5 jobs are created by small businesses, and those are the very businesses that keep society running. As entrepreneurs ourselves, we understand the challenges you face and that sometimes you need a temporary cash boost to get through off-peak or peak seasons, invest in equipment, inventory, staff, marketing or to pay taxes.
The reasons for taking out a business loan differ greatly. However, we can divide the reasons into good and bad ones.
Good reasons are to cover a temporary need. It can be to invest money in machinery, employment, training, renovation, marketing or stock. They are simply investments that will generate a return that will allow your business to repay the loan.
Bad reasons include covering up a weak profitability or loss, without having a concrete plan on how to quickly turn the loss around. Another bad reason is to pay off other loans. The risk is that you will end up in a negative debt spiral. Never borrow more than you need.
Bank loans to businesses are the first option most entrepreneurs think of. The problem is that traditional banks want to take very little risk and have old systems and procedures that are very costly. This means that small business loans are rarely a profitable business for the bank, which would rather lend hundreds of millions or billions to large companies. Unfortunately, lending money to businesses from the bank is more difficult than ever.
Factoring and invoice credit can be an option if you have a lot of invoices and the payer has a good credit rating. If you are a small business that invoices other small businesses or individuals, factoring is more difficult and expensive.
Equity is a good option if you need money in the longer term and you are not yet up and running and can show stable cash flows. Bear in mind that the investor may be eligible for a tax deduction. The downside is that you are selling part of your business, and therefore part of your freedom and future profits.
Online business loans are a convenient and easy option if your business needs to borrow money and the amount is not very large. Applying for the loan is often very simple and you will receive a quick response. Qred, for example, promises an answer within an hour and disbursement on the same day.
The cost is very different, depending on who you ask. The interest rate is important, but the pitfalls are many. In addition to the interest rate, there are lots of costs that the various lenders add on. Here are things to watch out for.
Interest on corporate loans is normally expressed as a percentage of outstanding loans. The interest rate on small business loans varies widely, but is often 10%-20% per annum.
The origination fee is a fee that most lenders charge for originating a new loan. It can be up to 5% of the loan amount.
The notification fee is a charge for sending the invoice. It can vary between 30-60 SEK per month.
The early repayment fee is a fee that you are sometimes forced to pay if your company wants to repay the loan sooner than agreed. This can be a very large cost.
The application fee is a fee charged by rogue traders just for applying for a business loan.
Monthly fee is a fee charged by Qred every month. Qred has only a fixed monthly fee and no interest, no set-up fee, no early redemption fee, no application fee and no other hidden charges.
Once you've explored the options, it's time to think about the next step - how to repay the loan. Make a simple calculation. There are lots of templates online, but unfortunately they tend to be difficult to understand. It doesn't have to be sophisticated, but it's important to think through your company's future situation. Make sure you have some margin in your calculations and consider the options. For example, what happens if you lose a customer or a project is delayed?
The better prepared you are, the more likely it is that your business will be granted a business loan and that your business will succeed in the future!
It's easy! Just call, email e(shown in the picture below) and fill in your desired loan amount and we'll try to find the best possible solution.
Applying for an increased loan amount is free of charge, non-binding and you will receive a reply the same day. You'll get a reply by email and SMS and it will look just like the first time you took out a loan from us!
Do I have to wait until the loan is fully repaid to apply for an extension?
No, you don't have to wait until the whole loan is repaid. If you apply for an extension when you already have a loan, we will make an individual assessment of you and see if there is a possibility to increase, and how much you can increase. We usually like to see a few months of good repayment before we can consider increasing the loan.
What can I do as a customer to get an extended credit line?
We want to build good relationships with our customers based on trust and to get to a higher amount there are two things you can do. Paying back on time increases your chances of being able to extend, and adding a person to the loan.
Do I get two loans to keep track of if I get an extended loan?
No, the amount left to repay on your current loan and the amount paid out on the new loan are added together in the same loan. You get one invoice and it's easy to keep track! However, if you have another company, you can take out a loan for that company too.
Can I change the repayment period?
We do our best to always adapt to the needs of the client and we make an individual assessment for each application. Get in touch and tell us what you want and we'll look into it to make it as good as possible!
Business loans are a type of business finance that can help you develop your business. Banks and other lenders take several factors into account when determining whether you are eligible for a loan and how much they will lend to your business. You must have a strong history of good payment history to get financing from the bank. The lender will want to know why you need the money, what it will be used for, how much capital is needed and how long it will take for them to get their money back.
A business loan is a type of financing that can help small businesses grow. Business loans are used to develop a business, buy equipment or make capital improvements. They can be used to expand operations or to buy inventory (for example). Businesses use these loans for many different reasons, but they often turn to them when they need money quickly and don't have enough cash on hand - or when they need access to capital that would otherwise not be available in the local market.
Loan requirements vary depending on the lender, but include a credit check, business plan and collateral.
A business plan is a written document that describes your business and its objectives. It should include the following:
Some lenders require the entrepreneur to meet certain criteria before the loan is approved. For example, you may need to have been in business for a certain amount of time and have enough money in the bank. They may also want to know if you have any personal guarantees from friends or family members who will be responsible for paying back the loan if you fail as an entrepreneur.
You may also need to show that you have sufficient liquidity in your business and that the loan is a good investment.
Liquidity refers to how quickly a business can turn its assets into cash, so it's important for lenders to see that you can repay your loan without problems. Liquidity is often measured by comparing current assets (such as receivables) with current liabilities (such as payables). If your business has a positive working capital, this indicates good liquidity because it means that there is more money available than required to cover short-term expenses.
To demonstrate this, many businesses will use non-cash collateral such as equipment or real estate as security for their loans; however, some lenders will require additional documentation if they are unsure of the value of these items used as collateral before making an offer on one's business loan application - which may be why many people prefer to apply online instead! Another thing worth mentioning here is that those thinking of getting an SBA loan should make sure that their creditworthiness meets certain parameters set by each lender before applying, as this affects whether or not one gets approved for financing through them."
Before applying for a business loan, you should do some research, including what criteria are used to assess borrowers' applications. Lenders have different requirements and standards, so it's important to find one that suits your needs. Make sure you understand their requirements before submitting an application. This is why we at Qred have wanted to make it as simple as possible, by being completely transparent about why you might be denied a loan right now or not get the amount or fee you wanted.
If you are an entrepreneur, you have probably heard of the term 'business loan'. But what exactly is it? And how does it differ from other types of financing? Let's take a look at some key facts about this type of loan:
The lender considers several factors when determining whether you are eligible for a loan and how much they will lend to your business. They will look at your creditworthiness, collateral, liquidity, business plan and payment history. If you don't have enough personal assets or collateral to secure the loan, they may ask for a personal guarantee from someone else who has those things. In addition, some lenders may require a guarantee in case something goes wrong with your business (e.g. default).
To obtain financing from the bank, you must have a good payment history. A good payment history is a strong indicator of creditworthiness, which is an important factor in determining whether your application for financing is approved or rejected.
A good credit history is also an indication of financial stability, future profitability and ability to repay debts.
Will it be used to buy equipment or invest in growth? How long will it take you to pay off the loan? How much money will be repaid each month? How much money will be repaid each year? Is there a personal guarantee associated with the business loan application? There are many questions, so try to prepare yourself for most of them that may come up during a call, meeting or in email conversations. The better prepared you are and able to answer questions, the better!
The purpose of a business loan is to help you develop your business and expand your operations. You may need money for equipment or additional inventory, which can be used as collateral for a business loan. When applying for a business loan, it is important to know how much capital is needed to develop your business and make sure that there are no personal guarantees to be approved by the lender before signing papers with him/her.
You should be prepared to answer the following questions:
When taking out a business loan, you may compare two or more lenders and offers from the same lender. You may focus primarily on getting the loan in the first place and secondly on getting it at the lowest possible cost. Fair and reasonable.
But what offers do you get? Do you have the option of spreading the loan over a few months to a year? Duration is something that can drastically affect your total cost of the loan.
Let's say you take out a business loan of 120 000 SEK over 12 months. You will amortize 10 000 SEK per month and for simplicity we assume that your monthly cost is 1 000 SEK. The total cost, if you have the loan for 12 months, is therefore 132 000 SEK.
But after 4 months, you realize that you can pay back the entire loan and contact the lender to do just that, pay back the entire loan. Then, theoretically, you have 8 000 SEK left in monthly fees - if you have a fixed term for the loan!
If you can redeem the business loan early at no extra cost, it would only cost you 4 000 SEK to borrow 120 000 SEK for 4 months. If your bank or lender had a fixed term, you would probably be able to repay the loan itself, but still have to pay the remaining monthly fees. Either in one lump sum to write off the loan or to continue paying the fee month after month.
Therefore, it should be included in your comparison and research to get the opportunity to settle the loan early at no cost. Then you can control the repayment yourself and if you have worked hard during, for example, a high season, you will be rewarded for your efforts by becoming debt-free and avoiding paying more unnecessary fees.
Some lenders have a lock-in period of 4 months, for example, before you can repay the loan and avoid further interest and fees. Others require that half of the agreed term must have expired before you can repay the loan. Therefore, if you have taken the height, made an agreement with a lender for 12 months and can repay after 4 months, the earliest you can repay the loan is after 6 months. This means that you have the loan for two months longer than you actually need.
Amortization: 120 000 SEK
Monthly fees: 12 000 SEK
Amortization: 120 000 kr
Monthly fees: 4 000 kr
At Qred, we understand how difficult it can be to be a small business owner. That's why we want to make it as easy as possible for an entrepreneur to get an online business loan.
Qred Score is a credit rating that we give a company based on a variety of parameters. It is an overall assessment that, together with an algorithm, our customer advisors use to determine the loan amount we can offer your business. It is also the rating that determines your monthly fee.
We collect data from hundreds of sources. We do this to determine your company's creditworthiness and repayment capacity. A higher Qred Score means lower fees and the ability to borrow larger amounts. You can raise your company's Qred Score yourself by becoming our customer and managing your payments. Some of the things we look at are:
The monthly fee presented to you is fixed, which means it will not change during the loan period. So there are no interest rates, set-up fees or other hidden costs for our business loans. You always know what it will cost you each month and you can repay the loan at any time without charge. In other words, you only pay for the time you use the money.
You take out a loan of 60 000 SEK, over 6 months and at a cost of 1 200kr/month. Normally, you would amortize 10 000 SEK each month and pay 1 200 SEK in fees. If, on the other hand, you were to repay e.g. 20 000 SEK each month, you would have amortized the entire amount after three months. Then you only pay for 3 monthly fees.
You take out a loan for the same amount, 60 000 SEK. You get the same monthly fee of 1 200 SEK. But unlike the previous example where you amortized the loan faster than 6 months, you now pay a fee for all months. So you amortize 10 000kr/month and pay the monthly fee of 1 200 SEK until 6 months have passed and you are done with the loan.
* Please note that these are only numerical examples and, as previously explained, each company will have its own assessment and pricing.
Thanks to our digital processes and lack of physical bank branches, we can offer loans to more small businesses than banks can. If you have a lower turnover, are a start-up or have a record of non-payment, we can still help you. Thanks to our Qred Score, we always make an individual assessment and you will be notified within 1 hour of submitting your application.
A loan from Qred is fast, safe and easy!
There's no hassle with balance sheets, profit and loss statements, bookkeeping and other processes. For example, if you're a restaurant owner with a broken oven, you can't wait weeks for a loan to be approved and paid out.
Then speed is important for you and your business. Because you can quickly solve the problem and continue to make money.
Since you sign with BankID and everything on our site is encrypted with a secure connection, you can rest assured that your data is handled safely.
It then takes just 1 minute to apply and you don't need to add any additional information or documents - unless you want to.
We'll call you for a chat about your business and the loan you've applied for. So you don't have to chase us - we'll call you!
After we have talked to you and approved a loan, you will receive a offer which you then sign with BankID. If you are a returning customer, you may receive an approved loan without having to talk to us. This is thanks to our algorithms and systems.
The offer is valid for 7 days and you can sign the quote at any time and get paid - on the same day!