Self-employed and small entrepreneurs are important pillars of our economy and the germ cells of successful companies. Even the global players on the world market have started small at one time, and small and medium-sized enterprises, which also include small entrepreneurs within the meaning of the EU definition, contribute more than half of Germany’s total economic output.
Nevertheless, many small business owners and the self-employed have always problems when it comes to quickly or easily and cheaply loans or tailor-made financing offers. Short-term loans for small businesses, in particular, are scarce in traditional banks and, if so, often only obtainable under less favorable conditions.
The Berlin specialist for small loans BankFit is breaking new ground here and offering short-term loans for business customers and tailor-made loans for small businesses.
BankFit offers small business loans at short notice
With just a few steps applied online, a short-term loan for small businesses is the ideal alternative when there is an urgent need for cash in the short term to make unexpected payments, but late payments from customer invoices, for example. At BankFit, small businesses can borrow in manageable sizes of 1,000 to a maximum of 10,000 euros and trigger them again on the next payment. The basic term of such a small loan is freely selectable within the limits of 7 to 30 days. There are no long-term liabilities and dependencies.
Small business loan from BankFit secures liquidity
Unlike installment loans from traditional banks, which are mostly investment loans or otherwise earmarked, the short-term business loans provided by BankFit to self-employed and small business owners are neither committed to a specific purpose nor limited to specific sectors and industries. Whether you as a PR agency to buy office equipment, as a taxi operator the unexpected repair of your taxi, as restaurateurs have to pay for the replacement of the defective stove or as an operator of a craft business with 15 or 20 employees to finance the material for a major contract – with a short-term loan for small business this is not a problem. Small business owners can use the loan offer from BankFit to secure their liquidity while retaining their flexibility.
Simple, fast and unbureaucratic: short-term loans for small businesses
Since BankFit renounces cumbersome bureaucratic procedures and instead relies on online communication, you can within a very short time – when using the Express option even within a day – have the desired amount.
The online application for a loan for small businesses with a short term is done in a few steps. Use the sliders on the comfortable online loan calculator from BankFit to determine the exact loan amount you need and set the duration until repayment. The online tool will immediately show you exactly what the interest rate, interest and the exact amount of the repayment are. There are no pre-paid fees and there are no hidden extras. If you do not pay extra services such as the Express option or the 2-installment option, the displayed price is the final price of your loan.
Shortly after submitting the loan application, you will receive the application documents by e-mail and already 3 to 4 days later you can – provided the conditions are right – have the loan amount.
Prerequisites and Credit Criteria for BankFit Business Loans
Of course, BankFit fulfills its responsibility as a fair partner for brokering business loans to small businesses and carefully examines whether the conditions for lending are right. This implies that the company has been on the market for at least a year and has a regular positive cash flow. In addition, the turnover should be at least 50,000 euros a year and the small business owner must take personal liability for the business loan.
In contrast to an installment loan with traditional banks, other credit criteria apply to the new credit segment of short-term loans for small businesses. The risk assessment for a long-term bank loan of, for example, EUR 50,000 is based on probabilities of default and statistics on long-term loans, while a short-term business loan is already repaid after 30 to 60 days.
Taking into account the changed criteria that apply to an extremely short-term microloan and various other factors, the software used by BankFit determines its own short-term credit index. As a result, even small entrepreneurs can use a short-term loan whose credit bureau index has only a medium credit rating.
Since the loan request at BankFit is basically free, you do not take any risks yourself.