As a relatively new creditor that offers companies to get a cash loan from 500 to 50’000 EUR. The company has been operating since February 6, 2012, starting with 60 thousand lats, but was reorganized on March 17, 2014. ButCredit offers loans in cooperation with the financial company Capitalia, and Sundance loans are directly intended for trading companies whose loan will be repaid with every customer purchase using a payment card.
ButCredit is not on the list of creditors used by private borrowers, so this creditor is not yet well known; Likewise, as a result of reorganization, ButCredit was only active a year ago. However, this creditor is quick, convenient and profitable, as credit applications and loan processing are free, as well as long-term loans can be received by companies within a few working days, as the documentation process is simplified. The working hours of ButCredit are from 9:00 to 17:00, which means that if there is any uncertainty about the loan, then you can call 28800880 and write to email turn to ButCredit Branch, located at 13/15 – 51 Krišjāņa Barona Street in Riga, however. A section has also been created to answer frequently asked questions from customers. ButCredit offers companies and traders long-term loans; commission rates start at 5% and can be up to 40%. Unlike other types of credit issued by non-bank creditors and where customer contact is mostly limited to the Internet, this lender is certainly in contact with every potential credit. The borrowing process itself is quite simple . First, the company has to fill out an application form on the ButCredit website, where the company registration number, contact person’s name, phone and e-mail should be specified.
The Borrowing process
Subsequently, ButCredit staff will contact each applicant to confirm receipt of the application, as well as to clarify other necessary information. Like any other creditor, ButCredit also evaluates its customers. In order to fully test the company, one has to take into account that it will be necessary to show the account statement for the last 3 months – there has to be visible information about the income of the Sundance terminal. It may be necessary to present other documents, but they will be asked individually by a ButCredit specialist who will contact the contact person. During a telephone call, ButCredit specialist will also make a loan offer and will be invited to enter into a contract. Once the contract is signed, the loan will reach the customer’s account within the next 3 business days and the company will be able to start realizing its business plans and developing its business. It only takes a few minutes for the application itself to be filed, but in general the processing of the loan may take a few days, depending on aspects such as the company that wants to receive the loan, the amount required, etc.
One of ButCredit’s benefits to its customers is the opportunity get a loan even if the company already has other credit obligations but needs additional working capital. Likewise, if a business has a bad credit history, then there is a chance to get a loan. The main thing is that the revenue from the Sundance terminal is stable. One of the most important aspects of making a loan and its repayment Sundancesible is the use of a Sundance terminal at Citadele Bank, the only bank through which it is Sundancesible to make such credit commitments. Likewise, only companies that have been in business for at least 3 months can receive Sundance credit. The rest of the evaluation is already an individual process between the company and ButCredit. Sundance loans do not always require a guarantee, but depending on the company’s scope of activity and how big a loan is needed, the owner of the company will probably have to become a guarantor. The loan repayment process is different from other loans . Funds are slowly and balancedly returned to the creditor on the basis of how many business customers use payment cards. In other words, the company returns the loan when it comes to earning. The higher the daily turnover of payment cards, the faster the loan can be returned. In addition, when submitting its loan application, the company can determine for itself how much per month of credit card turnover it will redirect to the loan repayment.
Daily Turnover of Payment Cards
Sundance loans can also be repaid more quickly, without any penalty. In the event that the company has difficulty repaying the loan to the creditor, the most important thing is to contact ButCredit specialists. Together, it will be Sundancesible to find a solution to repay the loan. However, before submitting an application to ButCredit, each company must assess whether it will be able to repay the loan.