Responsible lending

Qred has designed a policy to avoid companies putting themselves in a situation where they cannot pay their debts. Below, we'll tell you how to get the best out of your business loan, when to avoid taking out a loan and what can happen if you don't pay back your debts.

We combine speed and simplicity with responsibility

Fast and simple business loans are a relatively new phenomenon on the Danish market. This means companies no longer have to go to the bank or to friends and family to borrow money. The application is simple and takes only one minute, and the money is usually paid out on the same day. The service has become very popular and is available for small businesses that want to become large companies.

In addition to complying with all laws and regulations of course, we go one step further to be responsible lenders. To avoid our customers finding themselves in a situation they cannot handle, we have established a policy.

We always conduct a thorough credit assessment

We conduct a detailed credit assessment of all applicants, which we assess along with external information from various sources. In addition, we look at past loan and payment history. This means that we can make a better assessment of the borrower, thereby avoiding getting into difficult situations.

We only lend money to companies

We only cater to businesses and not to private individuals. We do not require any collateral from the company, but we do require that the owner or owners are personally liable for the loan as a self-debtor guarantor.

We set a reasonable borrowing ceiling

We set individual limits on how much each company can borrow. Depending on how your business evolves, and depending on how you manage your payments, the loan cap may change.

Please think before you borrow money.

Qred has ethics at its core and we take our responsibilities as a lender very seriously. Think twice before applying for a loan. Whether it's a small business loan from Qred or a larger loan from a bank. There can be many good reasons to take out a business loan, but there are also situations where you should avoid taking out a new loan. If you follow these simple rules, you can avoid many problems:

• Don't borrow if you already owe too much.
• Don't borrow if you know you're going to have a hard time paying it back.
• Do not borrow to make risky investment.

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