Business Loans: How Does It Work
Corporate loans are an easy way to get money into the business, but what do you need to keep track of in order to get started? Here we list everything you need to know.
Do you want to make an investment, cover current expenses or buy equipment for the company? There may be many different reasons for having to strengthen the company’s cash flow for a period – then corporate loans are a smooth way to get money into the company, without unnecessary hassle.
Taking a business loan is a smooth way to get money into the company
We are investing in making corporate or business loans easy and easy, completely online. You get a loan promise of 1 minute and can then apply directly with BankID. By analyzing the accounts, we can also offer an offer based on your sales right now – instead of looking at old financial statements that the banks and other finance companies usually do.
What does business loan cost?
Many finance companies charge a seemingly low interest rate and then add other fees (such as start-up costs etc) – when you borrow, it is only interest that costs nothing else. The interest rate is 0.8% – 4% per month, and is paid on an ongoing basis during the loan period. Choose the loan period yourself: 3-24 months.
- 0.8% – 4% interest
- No hidden fees
- 3-24 months loan period
What will be the total cost?
The total interest cost for your business loan depends on how long the loan period you choose (3-24 months). For example, if you borrow SEK 50,000 for 6 months with interest of 2%, the total cost will be SEK 2,969. If you borrow SEK 50,000 instead for 12 months, the total cost will be SEK 5,925.
You repay and pay interest on the corporate loan simultaneously with a fixed amount per week (via direct debit).