Corporate credit for businesses

Corporate credit to businesses

We offer credit to all types of businesses. This is how one works business loans through Qred:

1. The application takes 1 minute
2. You will be notified within 1 hour
3. The money is paid on the same day

The credit has...

• No Startup Fee
• No binding time
• No hidden costs

Welcome to submit an application!

In a world where small businesses face economic challenges, access to capital isn't just an advantage -- it's a necessity. Corporate credit offers the financial flexibility and security needed to enable small businesses to grow and adapt to changing market conditions. Whether it's covering unexpected costs or funding expansion plans, corporate credit can play a crucial role in your business's growth.

In this article, we'll look at what corporate credit is and how to apply for it for your business - join!

In 6 minutes or less you will learn about how corporate credit differs from business loans, the interest rate on corporate credit and what requirements exist for corporate credit.

What is corporate credit?

Business credit is a so-called account credit or overdraft that gives your small business more financial freedom and flexibility. It is a credit frame provided by a bank or lender where you spend the money according to the different needs of the business.

Business credit can be crucial to small business finances, as it enables various investments in, among other things:

• Capital goods
• Expansion projects
• Management of cash flow in different periods

With the help of corporate credit, you can ensure that your company receives capital at the right time to support both growth and daily operations.

Corporate Credit vs Corporate Loans

Corporate credit is similar business loans in that your company gets a subsidy of capital, but with one big difference - with corporate credit you are granted a sum and choose how much of that sum you then spend. This is not how a business loan works, where you as a borrower are bound to pay back the full loan amount as well as interest beyond that amount. What applies with corporate credit is that you pay back only the money you have spent, that is, not the entire amount you have been granted.

Corporate Credit for Startups

For a newly started small business corporate credit may be indispensable - since new businesses may not always have established creditworthiness or long business history, it can sometimes be more difficult to qualify for traditional business loans. This can make corporate credit a valuable and more flexible asset in the early and unpredictable days of business establishment.

Interest on corporate credit: what does it look like?

In the case of corporate credit at traditional banks and lenders, interest is paid only on the money you spend, unlike a business loan where interest is paid on the entire loan amount.

At Qred, we do it a little differently - instead of interest, you pay a fixed rate each month for your business credit. So we have no interest or other charges, you pay the same fixed fee every month. Business credits with us have no binding period and you only pay for the months you have the credit.

How to Apply for Corporate Credit at Qred

Business credit online at Qred is fast, safe and easy. Applying for a business credit is a smooth process that can be summarized in three simple steps:

1. Search in one minute: Quick and easy application process. The application is free and non-binding, and we do not take credit checks on you as an individual.

2. Get a response within an hour: After you apply, we will hear from us within an hour - you will be notified of the amount of credit limit your company is granted.

3. Payment on the same day: Sign with BankID and get the money the same day.

Common business credit requirements

When you as a small business owner apply for business credit, it is important to be aware of some basic requirements that credit givers often make. These requirements may vary slightly, but here are the most common among traditional credit givers:

• Registered company: The company must be officially registered and have a valid organization number.

• F-tax: The company must be registered for F-tax.

• Operating time: Many credit donors require that the business has been active for at least six months to a year.

• Financial health: The company should have a stable financial history without debts with collection agencies. The creditworthiness is often assessed through a credit check.

• Wagering requirements: Some lenders may impose requirements on a company's annual income, which often must exceed a certain limit.

It is also common that the business owner or general manager may have to act as surety, which implies a personal financial responsibility if the business cannot repay the credit.

These requirements aim to ensure that the business is deemed capable of handling and repaying the credit, reducing the risk to the lender.

Small Business Credit with Qred

Business credit can make your small business easier by increasing your money flexibility - at Qred, we understand this unique need for small business owners. That's why we offer tailor-made financing solutions that are fast, flexible and without complicated terms. Our goal is to make financing easy and accessible, so you can focus on what matters most — running and growing your business.

Whether you need help selling invoices, obtaining business cards, or learning more about business establishment with Qred Academy, then we are here to contribute to your journey. Get started with Qred today and good luck with your business!

Corporate Credit FAQs

What is corporate credit?

A corporate credit is a type of financing that gives businesses access to a predetermined amount of capital, which can be used when needed. It is a flexible solution for managing cash flows or financing investments.

What is required to get check credit?

In order to obtain a checking credit, the business usually has to meet certain criteria that often include a stable financial history, operating time, and often a check on the creditworthiness of the business. There may also be requirements for minimum turnover and that the company does not have debts with collection agencies.

What does a check credit cost?

The cost on a business credit depends on the lender. At Qred, you only pay a fixed monthly rate for the business credit, while other credit providers may sometimes charge both interest on the utilized amount as well as any administrative fees.

‍‍‍We undertake a comprehensive credit assessment of the company before we establish a individual monthly fee. We have no setup fee. You pay a fixed monthly fee each month until the loan is repaid.‍

‍When will I receive the money in my account?‍

‍We will process your application within one hour. When a loan application is granted, you will be sent an offer by e-mail and SMS. Upon signing, you fill in your bank account for withdrawal, and the money is paid out within a few minutes.‍

‍Who can apply for a business loan?‍

‍Companies with the company form ENK, AS, DA, ANS or ASA can apply for corporate credit. The applicant must have Norwegian BankID and the right of signature in order to be able to sign a business loan agreement.‍

‍How long do you offer a payback period?

‍‍We offer a repayment period of up to 18 months which is determined according to the needs of the company. We do not have a binding period on our loans and you can therefore save money by paying off the loan faster.