Business credit is an important financial tool for businesses of all sizes, but it is particularly useful for small and medium-sized businesses that need flexible access to capital. This may include credit cards for businesses, overdrafts or other types of credit facilities that allow businesses to handle fluctuations in cash flow, finance new projects or make necessary purchases without having to draw on equity.
A business loan often acts as a buffer for financial uncertainty. It allows businesses to cover immediate or unforeseen expenses, which may be critical to continued operations or growth. For example, if a company is suddenly faced with the need to replace important equipment, access to a line of credit can ensure that this can be done immediately, without affecting the company's ability to meet other financial obligations.
However, when using business credit, it is important to be aware of the terms and costs involved. The interest rate on such credits can vary significantly depending on the credit history of the company and the financial risk the lender considers they are taking on. It is also common for fees to be incurred for establishing and maintaining credit facilities, as well as potential penalty fees for late payment.
Another important factor to consider is the credit limit, which should reflect the company's actual needs and ability to pay. It is important not to overload the company with debt, as this can lead to financial difficulties. Thoughtful use of business credit can, however, give a business greater financial flexibility and the opportunity to exploit opportunities that require immediate financing.
Finally, it is crucial for businesses to have a clear and workable repayment plan. The regularity and predictability of cash flows play a central role in whether a company can handle its credit in a sustainable way. By strategically managing the use of credit, companies can not only meet immediate financial needs, but also strengthen their long-term financial stability.
What is the cost of a business credit?
We carry out a comprehensive credit assessment of the company before we determine an individual monthly fee. We have no set-up fee. You pay a fixed monthly fee every month until the loan is paid off.
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.
