Swedish Bank for Small Businesses, Qred, Raises Loan Limit to Up to 5M SEK

Qred, a bank based in Sweden, states that it is raising the loan limit for small business owners.

Customers can now apply for loans “up to 5 million SEK, an increase of 3 million SEK from the previous maximum amount.”

The increase is part of Qred’s ongoing effort “to better meet the needs of small business owners and support their business goals.”

Emil Sunvisson, CEO of Qred said:

“We have seen increased demand from small business owners for larger loan amounts, especially in connection with expansions and investments in their businesses. By raising the loan limit to 5 million SEK, we want to offer small business owners greater flexibility and better opportunities to develop their companies.”

The increase has been implemented “in four of Qred’s six markets: Finland, Sweden, Norway, and the Netherlands, and is planned to be implemented in all markets shortly.”

Founded in 2015 by entrepreneurs for entrepreneurs, Qred claims that it “has quickly become the business bank with Sweden’s most satisfied customers.”

As the “only” Swedish company, Qred has qualified for “the Financial Times list of Europe’s fastest-growing companies for four consecutive years.”

Qred is the market participant focused on Northern Europe “for automated online business loans.”

Qred is committed to innovation and growth.

With operations in Sweden, Finland, Denmark, the Netherlands, Brazil, Belgium, and Norway, Qred has helped “over 50,000 businesses reach new heights.”

Their fully automated and proprietary credit assessment system enables Qred “to quickly and competitively offer entrepreneurs the financing they need to expand and thrive.”

As covered in October 2023, Qred, Sweden’s fintech company, is announcing that the banking license the company acquired in May is now “activated and the company is officially a bank.”

In addition to this, Qred is re-appointing Mattias Carlsson, former long-standing CEO of TF Bank, as Chair of the Board.

Qred is now able to “offer savings accounts to private consumers with competitive rates, which will allow the company to offer even more competitive terms to its customers.”

The company will also be able “to expand its range of services, offering even more comprehensive financial solutions to its customers.” This license acknowledges the company’s dedication “to providing accessible and tailored financial products to small businesses.”

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