Connect with us


Uncategorized

Applying For A Business Loan In Norway From $100,000 USD – $350,000 – See Requirements.

Published

on

Applying For A Business Loan In Norway From $100,000 USD – $350,000 – See Requirements.

In a start-up and growth phase, many companies need to know about the conditions they must meet in order to be granted a loan or credit. When issuing a loan, banks are primarily interested in two things: (1) the company’s debt servicing capacity and (2) adequate collateral if the company fails to service its debt. In addition, the bank needs to know as much as possible about the project for which the loan is required.

Payment ability In order to obtain a loan, the bank must feel confident that it will be repaid. A company’s payment ability, i.e. debt servicing capacity, is dependent on the amount of cash, or easily accessible funds, it has at its disposal. The bank will therefore ask about the company’s current liquidity position, as well as about its cash flow prospects.

Collateral

In general, collateral represents assets which the lender is entitled to repossess if the borrower fails to repay the loan. There are many types of collateral, ranging from company assets to sureties and real estate. Contact your bank to check what kind of collateral could be relevant for your company.

Two tips to improve your company’s debt servicing capacity

1. Monitor your cash flows

Monitor your cash flows and make sure that payment dates are observed. It is also important to improve the quality of your cash flows. For example, if your company has only a few customers, it will be more vulnerable if your customers experience payment problems. In such cases, it might be wise to consider insuring your accounts receivable.

2. Consider factoring or overdraft facilities

A number of companies experience liquidity problems because they have to pay suppliers before they receive payments from their customers. However, the accounts receivable from customers have a value and can be sold. This is called factoring and can help ensure that your company receives money owed even if your customers are unable to pay. For example, your company can use the accounts receivable from customers as security for an overdraft facility. Factoring is the best solution to ensure swift access to money.

An overdraft facility is a line of credit linked to a corporate account. Companies can draw on the credit line up to the agreed amount. It is important to make sure that the limit is high enough. If your company experiences times with lower-than-normal income levels or if something goes wrong, it is vital to have access to enough money.

Use your bank’s expertiseIn periods of tight liquidity, there are various solutions to improve your cash flow. Your bank can offer cash flow advice for your company and has the necessary tools to help you.

The bank assesses all loan applications individually. Thus. it is important to have a good business plan which includes a budget and a description of who will do what, where and why.

Consumer loans

A consumer loan can be suitable if you have a regular income and need money for a short period. Apply by using the Norwegian online application form.

Consumer loan

A consumer loan provides you with a loan of maximum NOK 250 000, and requires no collateral. The loan has a repaymentplan that runs over five years, but a shorter repayment periode can be arranged. Currently the online application is only avaliable in Norwegian.

Interest rate

Eff. interest rate 14,24 %.

Up front fee NOK 500.

A consumer loan is suitable if you:

  •     Need additional money for a short period
  •     Have a regular income
  •     Are over 23 years old

…and not suitable if you:

  •     Have trouble handling your personal finances
  •     Are unsure whether you will be able to repay the loan
  •     Have had trouble with repaying loans earlier

Price example

Loan amount NOK 65 000, repayment period: 5 years,. Nominal interest rate: 12.00%, effective interest rate: 14.24%, front-end fee: NOK 500.  Total cost: NOK 89 521 as 04.september 2018, subject to change.

Ordinary car loan Norway

You may apply for a pre-qualification letter which is valid for three months.

DNB’s car loans offer:

  • A repayment period of up to ten years
  • Up to 100 % financing
  • The opportunity to receive a pre-qualification letter valid for three months
  • Security against encumbrances
  • The opportunity to receive eInvoices

Price example ordinary car loan In Norway

Conditional on 35 % own capital:

Loan amount NOK 150 000

Repayment period: 5 year

Nominal interest rate: 3.40 %

Effective interest rate: 4.97 %

Front-end fee: NOK  2160

Total cost: NOK 169 275

If you need more information and help, do not hesitate to call us on 915 04 800.

Other types of car loans:

Secure Car loan

Green Car loan

Car loan for young adults

Home mortgage

Are you wondering how much you can borrow to buy a home? Apply for a pre-qualification letter to make sure that the financing is in order before you bid for your new home.

Advantages by having a pre-qualification letter

  • You will know how much you can borrow
  • You can feel confident that your financing is in order
  • The pre-qualification letter is valid for three months
  • The pre-qualification letter can be renewed as and when required

APPLY FOR $500,000,000 LOANS NOW FROM NORWAY AND PAY BACK IN 1 YEAR PERIOD.

1 Comment

1 Comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

RECENT POSTS

🔥WHAT’S HOT🔥

Uncategorized1 week ago

Flvme – Jus’ a Lil’ Outro

Flvme – Jus’ a Lil’ Outro Mp3 Download. Stream And Download “Flvme – Jus’ a Lil’ Outro ” Mp3 320kbps Descarger Fakaza...

Uncategorized1 week ago

ALBUM: Flvme – D.O.A (Dead or Alive)

Flvme – D.O.A (Dead or Alive) Zip Album Download. South African Hiphop Prodigy Flvme Drops His Brand New 2020 Hiphop Album Which He Titled D.O.A...

Uncategorized2 weeks ago

Dust Fam & Reckless Fam – Bad Mood

Dust Fam & Reckless Fam – Bad Mood Mp3 Download. Dust Fam joins force with Reckless Fam on a collabo that goes...

Uncategorized2 weeks ago

Ree Morris & Jullian Gomes – Break Free

Ree Morris & Jullian Gomes – Break Free Mp3 Download. Ree Morris links up with Jullian Gomes to premier this brand new soulful...

Uncategorized2 weeks ago

Pot3nt & Dopebwoi – Popa

 Pot3nt & Dopebwoi – Popa Mp3 Download. We have yet another new release from the South African talented play makers Pot3nt & Dopebwoi and...

Uncategorized2 weeks ago

Dj Mimmz Africa – Ngamemeza Ft. Mara Luh

Dj Mimmz Africa – Ngamemeza Ft. Mara Luh Mp3 Download. Dj Mimmz Africa updates his fans with a song he framed “Ngamemeza”, featuring...

Uncategorized2 weeks ago

Dj Mimmz Africa – Good Vibes Ft. Mara Luh

Dj Mimmz Africa – Good Vibes Ft. Mara Luh Mp3 Download. From The Journey EP by Dj Mimmz Africa we bring you...

Uncategorized2 weeks ago

JTK57 – Xitina Flavour Vol. 1 (Mdu Aka Trp’s Tribute Mix)

JTK57 – Xitina Flavour Vol. 1 (Mdu Aka Trp’s Tribute Mix) Mp3 Download. We have a new release from the...

Uncategorized2 weeks ago

Entity MusiQ & Lil’Mo – Umoya Wami

Entity MusiQ & Lil’Mo – Umoya Wami Mp3 Download. Here comes Entity MusiQ & Lil’Mo with another new amapiano vibe which is titled Umoya...

Uncategorized2 weeks ago

Entity MusiQ & Lil’Mo – UThando Kphela (Remix)

Entity MusiQ & Lil’Mo – UThando Kphela (Remix) Mp3 Download. Entity MusiQ & Lil’Mo come through with the remix of this song which...

POPULAR TAGS

ADS

Advertisement

Trending

Copyright © 2020 Jumwap News - Be alive with News Updates