Several banks prepared express loan offers for entrepreneurs, granted without Credit Checker and US certificates, without financial documents, and often without even visiting a branch. Where can a company get such a quick loan? What amount can he count on? And what conditions must he meet to receive the necessary cash injection?
Over half of the loans online
At the end of 2014, revolving loans sold online accounted for more than half (51.4%) of total sales of this type of loan. In December 2014 alone, it was 60% – this was the result he recently boasted in a press release from Good Finance Bank. The institution offers one of the most modern and entrepreneur-friendly solutions for granting loans – the Tachometer platform. Over two years, over 160,000 benefited from it. business owners who took out working capital loans for an amount exceeding USD 1.4 billion.
How it’s working? All you have to do is fill out the online loan application and send pdf statements from all company accounts in other banks for the last 6 months. Customer creditworthiness verification is entirely online. It is based, among others on the analysis of turnover on his bank account, as well as information on the borrower from various types of debtors’ databases. Wait for the decision for about 3 minutes. This form of obtaining a loan can also be used by entrepreneurs who have not been the bank’s clients until now.
You can choose from: working capital installment loan up to 250,000 USD, current account limit up to 250,000 USD and a credit card with a limit of up to 50 thousand. USD or installment working capital loan and current account limit up to USD 375 thousand USD with de minimis guarantee granted by Bank Good Credit. The entrepreneur grants the decision to grant a loan via the Internet. Starting a loan, however, requires a written contract, for this, it is best to go to the branch, funds on the account should appear on the same day.
After two years of operation of the platform, I can say that customers prefer this way of using the services we offer. They do not have to provide the bank with certificates or waste time on visits to offices to obtain them – comments Dominik Fajbusiewicz, a member of the board of Good Finance Bank.
A nod to existing customers
Good Finance Bank is not the only bank in which the company will get an online loan without a Credit Checker, US or financial documents. E-Money also has such a proposal. Online loans up to USD 100,000 USD can be obtained fully electronically in just 15 minutes.
However, this option is available only to E-Money customers, because the credit decision is made on the basis of previous cooperation with the bank. New customers can count on no more than 10,000 zł. The customer can choose the form of credit: overdraft, credit card or loan repaid in installments.
You can also apply for a loan online at E-cash Bank thanks to the E-cash Direct Business Credit platform. It allows free assistance in choosing a product suitable for the needs of the company, allows you to assess your creditworthiness, and also make an online application.
These options are available to all companies
Those who are already clients of E-cash Bank and have access to E-cash BusinessOnLine can also conclude a contract via the Internet, of course, if they receive a positive credit decision. As for formalities, documents, and collateral, they depend on the type and amount of the loan.
But also in this area, the bank is trying to meet customers. For example, loan security documents, which must be signed and delivered to the bank in paper form, are also made available through E-cash business online, so they can be printed and sent at the bank’s expense.