Find answers to the most frequent questions
Frequently Asked Questions
From 3 to 24 month, depending on the financing institution and the product itself.
Depnding on the company needs and preferences as well as the product itself – it might be a fixed percentage of your future card transactions or renewable limit.
The maximum amount is about EUR 4 million; Generally the funding amount is up to the 1-2 times the average of monthly turnover. Usually about 1,5 times.
Example:
If a company generates about 100.000 EUR of turnover through a card transactions per month, it can count on 150.000 EUR of financing approx.
The total cost ranges from 0.8% to 3% per month – depending on the amount of financing, the condition of the company and the repayment period.
It usually takes from 1 up to 7 working days (counting from submission of documents to decision ). If you apply for larger amount the proccess is individual and it might take a bit longer, but still the approval is pretty quick.
In some cases a minimum monthly turnover of 100.000 EUR is required, in other EUR 25.000 is efficient.
Nevertheless the funding is available for the companies with a card turnover below 25.000 EUR.
The company must have been generating revenue via gateways or payment terminals for at least 3-6 months.
We are not scoring the customers on their official credit score (i.e. Creditreform or Schufa in Germany, BIK in Poland). To manage our risk, we are doing a very basic alternative credit check, which is just giving a vague trend of the customer. The focus of our risk management will always be the digital revenues of a merchant. Nevertheless we may ask you some additional questions.
Your company business assets are protected. We offer you an unsecured funding. This means that your business collateral is not required as security for the funding. This can benefit many businesses, especially those that have limited assets.
You will need to provide a guarantee from a director of the business only.
More than just a loan
You can benefit from a fast cash boost without the usual restrictions associated with traditional loans.
There may well be no credit check and approval is pretty quick.