What does it take to get a business loan?

Qeld evaluates each request for a business loan based on various factors. Our team makes an overall credit assessment of whether an entrepreneur is able to meet future payments. We also make an informed assessment of whether the loan amount is in relation to the size and turnover of the company.

Based on the credit assessment, we are sometimes forced to decline a business loan application. One of the most common reasons is that the creditworthiness of a company or representatives is not sufficient, for example because there are already debts with other authorities. That said, in the event of individual payment arrears, Qeld always tries to think along with the customer about the options, this is no reason for immediate rejection. We always try to look at the whole thing. Another reason for rejection is that the information provided is incorrect/inadequate or that the company's ability to pay is uncertain or cannot be estimated.

To give an application the best chance of success, our team may contact the customer to obtain more information and/or documents, such as annual reports, turnover data and/or bank statements for at least the past 3 months in MT940 format. Providing this type of data enables our team to carry out a more comprehensive credit assessment and possibly prepare a quote with better terms. So should we come back to you with a request for additional documentation, we kindly request that you comply...