When is it worth using the Modify offer? Online loans for small and medium-sized companies are a chance to participate in tenders, increase the number of orders or participate in projects financed from EU funds.
The Modify loan company operates in all Baltic countries and its headquarters are in Riga. The loan is granted in the amount from USD 20,000 to USD 400,000, without hidden fees, and its formalities have been kept to a minimum. Thanks to this, you can be sure that the verification process will take place faster than when applying for a loan for companies at the bank.
How do you get a loan from Good Credit?
Are you wondering how the Good Credit loan process takes place? It is very easy! The first thing you need to do is complete a loan application. You will mark the loan amount and repayment period. Using the calculator available on the lender’s website you can immediately check its cost.
You will see in this way whether it is an offer tailored to your capabilities. After receiving the application, you will be asked to send a bank statement. Then, the loan company will check your data in public and private registers.
Based on the collected information, your company’s loan repayment capacity will be assessed. If the decision is positive, you will receive funds to your bank account the next day at the latest.
Opinions about Good Credit are very positive. The company operates fully legally on the Polish market, as well as many neighboring ones, including Lithuania, Latvia, and Estonia
Who can get a loan from Good Credit?
As you already know, the Good Credit loan is only for entrepreneurs . Therefore, it is also a business loan, including a one-person loan. Moreover, this company must be creditworthy , which in practice means that should bring income. Nor can it appear in the register of debtors, because then you can not count on that as its owner, you will receive a loan.
Significant restrictions also apply to the revenue your company should show. The maximum loan amount is set on its amount. If you intend to borrow USD 40,000, the income should be at least USD 130,000 for the last 12 months. What’s more, the seniority of the company is also important, i.e. the period since your company has been operating on the market. The minimum is 6 months .
Good Credit loan costs
The cost of the Good Credit loan depends on the amount you choose and the repayment period you choose. Your company’s income is also important. Based on this type of data, each customer receives an individual offer. Check it on an example.
If you want to borrow USD 5,000 for a period of 12 months, then based on the loan calculator, you can see that your loan’s monthly interest rate will be 3.5% and its total cost is USD 6,133 . The monthly installment, in this case, is USD 416 . The loan is secured by a business owner guarantee
What does customer verification at Good Credit look like?
As already said, the client will be thoroughly checked in public and non-public databases. In practice, this means above all that the loan company will verify that the borrower’s data are, among others, at the Credit Information Bureau.
In addition, customers are required to provide a bank statement. It is based on the company’s recent income that the loan is granted.
Therefore, verification takes place at two levels. There is no chance for you to get a loan if you have no income or are in debt. The loan will also not be granted to a company that has been on the market for less than 6 months.
Loan repayment in Good Credit
The loan in Good Credit is repaid in installments. You can choose their quantity by choosing the repayment period. Importantly, in the case of loans for higher amounts, repayment takes place even twice a month. When filling out the loan application, you will need to set up your own account on the loan platform.
This is great facilitation that will allow customers instant access to all information regarding the loan. It will, therefore, be possible to monitor installment repayments.