Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Trustpilot
No binding time
It is free and non-binding to apply
No hidden costs or participation fees
We offer credit to all types of companies. This is how a business loan through Qred works:
The credit has...
Welcome to submit an application!
Business credit is an important tool for businesses, especially small and medium-sized ones, that need flexible capital. This includes credit cards and overdrafts that help manage cash flow, finance projects and make necessary purchases. Credit acts as a buffer against financial uncertainty and covers unforeseen expenses.
In a world where small businesses face financial challenges, access to capital isn't just an advantage - it's a necessity. Business credit offers the financial flexibility and security needed for small businesses to grow and adapt to changing market conditions. Whether it's to cover unexpected costs or finance expansion plans, business credit can play a crucial role in your company's growth.
In this article, we look at what business credit is and how to apply for it for your business - join us!
In 6 minutes or less, you'll learn how business credit differs from business loans, the interest rate on business credit and the requirements for business credit.
Business credit is a so-called overdraft credit that gives your small business more financial freedom and flexibility. It is a credit line provided by a bank or lender where you use the money according to your company's various needs.
Business credit can be crucial to a small business's finances, as it enables various investments in, among other things:
With the help of business credit, you can ensure that your company receives capital at the right time to support both growth and daily operations.
Corporate credit is similar to business loans in that your company receives an injection 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 repay the full loan amount as well as interest beyond that amount. With a business credit, you only repay the money you have used, not the entire amount you have been granted.
For a newly-started small business, business credit can be indispensable - since new businesses may not always have established creditworthiness or a long business history, it can sometimes be more difficult to qualify for traditional business loans. This can make business credit a valuable and more flexible resource in the early and unpredictable days of business establishment.
When it comes to business credit with traditional banks and lenders, interest is only paid on the money you use, unlike a business loan where interest is paid on the entire loan amount.
At Qred, we do things a little differently - instead of interest, you pay a fixed price each month for your business credit. In other words, we have no interest or other costs, you pay the same fixed fee every month. Corporate credits with us have no lock-in period, and you only pay for the months you have the credit.
Business credit online with Qred is fast, safe and easy. Applying for a business credit is a smooth process that can be summarized in three simple steps:
When applying for business credit as a small business owner, it's important to be aware of some basic requirements that lenders often impose. These requirements can vary somewhat, but here are the most common among traditional credit providers:
It is also common that the company's owner or general manager may have to act as a guarantor, which entails personal financial responsibility if the company cannot repay the credit.
These requirements aim to ensure that the company is considered capable of handling and repaying the credit, which reduces the risk for the lender.
Business credit can make your small business easier by increasing the flexibility of your money - at Qred, we understand this unique need for small business owners. That's why we offer tailored financing solutions that are fast, flexible and without complicated terms. Our goal is to make financing simple and accessible, so you can focus on what's most important - running and growing your business.
Whether you need help selling invoices, getting business cards, or learning more about starting a business with the Qred Academy, we're here to help you on your journey. Get started with Qred today and good luck with your business!
What is business credit?
A corporate credit is a type of financing that gives companies 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 overdraft credit?
In order to obtain a line of credit, the company must usually meet certain criteria, which often include a stable financial history, operating time, and often a check of the company's creditworthiness. There may also be requirements for minimum turnover and that the company has no debts with collection agencies.
What does an overdraft cost?
The cost of a business credit depends on the lender. With Qred, you only pay a fixed monthly price for the business credit, while other lenders may sometimes charge both interest on the amount used and any administrative fees.
Wecarry out a comprehensive credit assessment of the company before determining an individual monthly fee. We have no set-up fee. You pay a fixed monthly fee every month until the loan is repaid.
When will I receive the money in my account?
We try to process your application within an hour. If the loan application is approved, you will be sent an offer by e-mail and SMS. When signing, you enter the bank account for payment, 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 business credit. The person applying must have a Norwegian BankID and signature rights to be able to sign an agreement on a business loan.
How long a repayment period do you offer?
We offer a repayment period of up to 18 months, which is determined according to the company's needs. We have no lock-in period on our loans and you can therefore save money by paying off the loan faster.
Founded in 2015 by entrepreneurs for entrepreneurs, Qred offers Norwegian business owners a new and different option for business financing. Today, Qred is the market leader in the Nordics, something we are very proud of.
We launched our services in Norway in 2022 and have helped thousands of Norwegian entrepreneurs. Our friendly and experienced team understands the challenges and needs of business owners, and we are proud to be one of the highest-rated business lenders on Trustpilot.
We help you find the best solution for your business.
Kristina is responsible for the Norwegian market and has a broad background in banking and finance with over 5 years of experience at Nordnet. She has a bachelor's degree in Marketing and Management from Inland Norway University of Applied Sciences. Kristina helped start up the Norwegian market from scratch in January 2022.
