At Qeld, we have developed a policy to prevent companies from finding themselves in a situation where they cannot repay their debts. Below, we describe how a company can best use a business loan, when a loan should be waived, and what happens if the obligations are not met.
We combine speed and simplicity with responsibility
Fast and easy online lending for businesses is a relatively new service on the Dutch market. This service means that companies no longer have to go to the bank, or to friends and acquaintances, to borrow money for their business purposes. The application is simple and only takes a few minutes. In addition, the money is usually transferred on the same day. The service is greatly appreciated and exists for small businesses that want to become big companies.
At Qeld, we take full responsibility as a creditor. Besides complying with laws and regulations, we have gone one step further to be a responsible lender. To prevent our clients from ending up in a situation they cannot handle, we have established a policy.
We always do a thorough credit check
We make a detailed credit analysis for all the applications we evaluate, combining it with other internal information, external information from various sources, and data from a previous loan and/or payment history. This allows us to better assess the borrower to avoid putting him or her in a difficult situation.
We only lend money to businesses
We only deal with companies and never with private individuals. We do not require collateral from the company, but we do require a personal guarantee for the business loan of all our new customers.
We set reasonable borrowing limits
We set individual limits on how much each company can borrow. Depending on how your business develops and how you handle your payments, the borrowing limit can be changed.
We ask you to think before you borrow money
Qeld applies the best practices in lending and we take full responsibility as a creditor. Of course, you should think before you apply for a loan, whether it is a microloan from Qeld or a larger loan from a bank. There are many good reasons to apply for a business loan, but there are situations in which you should not take on a new loan.
If you follow these simple rules, you will avoid many risks:
- Do not borrow if you already have too much debt
- Don't borrow if you know you will have trouble paying back
- Do not borrow to invest in risky products