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.
We combine speed and simplicity with responsibility
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.
We always do a thorough credit check
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 money to companies
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 a reasonable loan limits
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.
We ask you to reflect before you borrow money
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:
- Do not borrow if you already have too many debts.
- Do not borrow if you know you will have difficulty repaying.
- Do not borrow to make risky investments.