When you apply for a corporate loan or credit, it is important to keep in mind certain basic requirements for granting loans and credit. When making a loan decision, we consider your business idea, the purpose of the loan and your company’s financial standing, among others.
How to apply for a business loan? We want to support and help you turn your business idea into reality and grow your business. But first, we must know a little bit more about your business and your plans before we can offer a long-lasting finance solution for your company. Think of us as your business partners.
| Your company and business idea | We must know your company’s risk profile and business idea and the sector it operates in We review the outlook for your market and sector |
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| The purpose of the loan | We must know the purpose of the loan (eg purchasing equipment or office furniture) One reason for acquiring funding may be to cover ongoing expenses |
| Your company’s financial standing | We must ensure that credit does not affect your profitability
Your company must be able to afford the interest payments and loan repayments We review your total profit and balance sheet when evaluating the profitability of your business. We check your receivables and assets as well as your income and expenses now and in the future. |
| Your company's ownership and management | We must know your company structure; for example, if the company is part of a group, who owns the company and who runs the company |
| Your guarantee | We require a guarantee or security for the loan to minimise the risks to both parties The guarantee can be eg immovable property, stock or receivable (floating charge) |
Before you start filling the application, please make sure that your company's most recent financial statement is available. If you are applying the loan for a new company, please prepare business plan and budgeting plan for the company.
Filling the application takes about 10 to 20 minutes. You cannot save the application during the filling, so please make sure that you have enough time to fill it out.
After you have sent the financing application, please log in to Nordea Omaposti and send a new message with a header "Attachments to the financing application from open pages" and attach your most recent financial statement to the message. If you are applying the loan for a new company, please prepare business plan and budgeting plan for the company.
Templates for business plan and budgeting plan you can find from here.
The handling time of the application will be shorter if the documents mentioned above have been sent with the financing application. The loan decision cannot be given without the required information about the company's financial situation (balance sheet and profit and loss statement).
If you have any questions about applying for a corporate loan, please contact us. We are happy to advise you on the loan application process.
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