Borrow responsibly

At Qred, we have developed a policy to prevent businesses from finding themselves in a situation where they cannot repay their debts. Below we describe how a business can best use a business loan, when a loan should be waived and what happens if defaults are not met.

We combine speed and simplicity with responsibility

Fast and easy online business loans is a relatively new service on the Belgian market. This means that companies no longer have to go to the bank or to friends and acquaintances to borrow money. The application is simple and takes only a few minutes. In addition, the money is usually transferred the same day. The service is greatly appreciated and exists for small businesses that want to become big businesses.

At Qred, we take our full responsibility as a lender. In addition to the fact that we of course follow all applicable laws and regulations, we have taken further steps to ensure our position as a responsible lender. To avoid our customers ending up in a financial situation they cannot handle, we have established the policy described here

We always do a thorough credit check

We make a detailed credit analysis for all the applications we evaluate, combining it with other internal information, external information from various sources and data from a previous loan and/or payment history. This allows us to better assess the borrower to avoid putting him or her in a difficult situation.

We only lend money to businesses

We only deal with companies and never with private individuals. We do not require collateral from the company, but we do require a personal guarantee for the business loan of all our new customers.

We set reasonable borrowing limits

We set individual limits on how much each company can borrow. Depending on how your business develops and how you handle your payments, the borrowing limit can be changed.

We ask you to think before you borrow money

Qred applies best practices in lending and we take full responsibility as a creditor. Of course you should think before you apply for a loan, whether it is a micro-loan from Qred or a larger loan from a bank. There are many good reasons to apply for a business loan, but there are situations in which you should not start a new loan. If you follow these simple rules, you will already avoid a lot of risks.

• Do not borrow if you already have too much debt
• Don't borrow if you know you will have trouble paying back
• Do not borrow to make risky investments.

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