What does it take to get a business loan?

Qeld evaluates each business loan application based on several factors. Our team makes an overall credit assessment of whether a business owner is able to meet future payments. We also make a considered assessment of whether the amount borrowed is commensurate with the size and revenue of the business.

Based on the credit assessment, we are sometimes forced to reject an application for a business loan. One of the most common reasons is that the creditworthiness of a company or representatives is not sufficient, for example, because there are already outstanding debts. That said, in the case of individual arrears, Qeld always tries to think along with the loan applicant about the possibilities. We always try to look at the full picture. Another reason for possible rejection is that the information provided is incorrect/inadequate or that the payment capacity of the company is uncertain or cannot be estimated.

In order to give an application the best chance of success, our team may contact the client to obtain more information and/or documents, such as annual reports, turnover data and/or bank statements from at least the past three months in MT940 format. Providing this kind of data enables our team to conduct a more comprehensive credit assessment and possibly prepare an offer with better terms. So, if we come back to you with a request for additional documentation, we kindly ask you to comply...