Qred Bank is an entrepreneur-founded Nordic bank that offers business loans quickly and conveniently. The company operates in several Nordic countries and specializes in business financing.
Qred’s business loan is unique in that it does not use a traditional annual interest rate, but rather a monthly fee-based pricing. You only pay for the loan amount drawn and only for the time the loan is active.
Who is Qred Bank for?
Qred is especially suitable for SMEs that need flexible financing for working capital, equipment purchases, or seasonal fluctuations. Fast decision-making makes it an excellent choice when financing needs are urgent.
Features
- Loans €5,000 – €500,000 without collateral
- Decision often within an hour
- Money in your account next business day
- No commitment period – pay only for the time the loan is drawn
- No drawdown fees, no opening fees
- Digital signature with bank credentials
Pros and cons
+ Pros
- Extremely fast decision and financing
- Unsecured up to €500,000
- Transparent pricing, no hidden fees
- Free early repayment
- Financially sound Nordic bank
− Cons
- Requires the company to operate in Finland
- Monthly fee can be higher in individual months than traditional annual interest
Loan terms
Company registered in the Finnish Business Information System. Responsible persons of the company reside permanently in Finland. Finnish bank account. No financial statements or business plan required for the application.
Possible costs
Monthly fee from 1.75% of drawn capital. Opening fee €0. No drawdown fees. No commitment period. Early repayment is free.
Application process
1) Fill in the application on Qred's website (takes a few minutes). 2) Sign via Signicat with online banking credentials. 3) You usually receive a loan decision within an hour. 4) Money in your account the next business day.
Repayment
The loan can be repaid at your own pace within the chosen repayment period (1–36 months). Early repayment is free – you only pay for the time the loan is active.
Customer experience
Qred customers particularly praise fast processing, clear pricing, and flexibility. The company has received high ratings on Trustpilot and other review sites across the Nordics.
Rate, costs and representative example
Representative example: €50,000 loan, repayment period 24 months, monthly fee approx. 2.25% of drawn capital. Total cost depends on the amount drawn and time.
Frequently asked questions – Qred Bank
Is Qred's loan unsecured?
Yes, Qred's business loan is unsecured up to €500,000. You don't need pledged property or guarantors.
How quickly is the money in my account?
The decision usually comes within an hour and the money is transferred to your account the next business day – sometimes even the same day.
Can a new company get a Qred loan?
The company must be registered in Finland, but Qred does not require a long history. Companies that have operated for a shorter time can also get a loan.
Can I repay the loan early?
Yes, early repayment is always free. You pay the monthly fee only for the time the loan is drawn.