We at Qred AB (“Qred”) have developed a policy to prevent companies from finding themselves in a situation where they cannot repay their debts. Below, we describe how we ensure that we lend to customers that can meet their repayment obligations and how you can avoid ending up in financial difficulties.
Quick and easy business loans online are a rather new service on the market. Companies no longer have to go to the bank or to friends and acquaintances to borrow money. The application is simple and only takes a few minutes, and the money is usually paid out the same day. The service has been much appreciated and is available for small businesses that want to become large companies.
In addition to, of course, complying with all laws and regulations, we go one step further to be responsible lenders. To prevent our customers from finding themselves in a situation they cannot handle, we have established a policy.
We conduct a detailed credit check process for all applications. The check is the result of a combination of external information from various sources and any internal information e.g previous loan and payment history. The thorough credit check leads to a better assessment of each customer and avoiding difficult financial situations for customers.
We only lend to companies, never to private individuals. We do not require collateral from the company, but require a personal guarantee from all new customers.
We set individual limits for each company. Depending on how your business develops and how you handle your payments, the loan limit may change over time.
Qred always does its utmost to lend responsibly. Of course, you need to reflect before applying and taking out a loan, regardless of whether it is a smaller 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 where you should avoid taking out a new loan. If you follow these simple rules, you will avoid many risks:
