With a business credit from Grow you can further grow Your company. With the extra capital you can increase sales and profitability. For example, you invest in business assets or you buy or renovate a business premises. We help you take out a business credit with Grow with a discount on the charges.
For a business credit, Grow sets a number of requirements for you and the company. With annual figures you show whether your company is financially healthy. The bank also pays attention to the knowledge and qualities of you as an entrepreneur. For a business credit, Grow also wants to know more about your plans with the money from the credit.
What does a business credit with Grow mean?
At Grow you can choose different types of credit. Consider, for example, a business current account credit, but Grow also offers a business revolving credit. You can use the different forms of credit for different financing purposes. Which form you choose depends on your spending goal.
Grow maintains fixed terms for purchasing business assets. A business credit for a company car has a term of 3 years. When buying a commercial property, it concerns a term of, for example, 20 years.
Opt for a fixed or a variable interest rate?
With a fixed interest rate you have the advantage that you already know what you will pay in interest during the term. Interest rates are now low, so opting for a fixed term can be wise. Only if the interest rate was lowered further would opting for a variable interest rate have been the better choice.
After years of falling interest rates, interest rates will rise again. The level of the interest cannot be predicted. By fixing the interest you fix the monthly costs and you can no longer have financial setbacks in that area.
What costs do you incur for the business credit at Grow?
You will receive a discount through us on taking out a business credit with Grow. The bank charges 1% commission with a minimum of € 250. We can offer you a discount or you don't even pay closing costs. This will quickly result in savings of € 1,000 or thousands of USD on credits for higher amounts.
The bank may charge costs for additional repayments. Grow also charges € 125 for interim changes and conversions.
What interest do you pay for a business credit from Grow?
The level of the interest differs per loan and term. Grow makes the level of interest strongly dependent on the extent of the risk they think they run. Grow will assess how much interest is owed per requested business credit. The fixed debit interest can be as high as 12.75%.
What are the conditions of Grow?
Grow provides credits for various legal forms. So you can contact them with a BV or a general partnership, but you are also welcome with a sole proprietorship or as a ZAP'er. Your company must be established in the Netherlands and also registered with the Chamber of Commerce.
Grow demands that you have a business account with them. Don't you have that? You can take out a business credit with Grow if you switch to a business account of the bank. They expect annual figures for the two completed financial years.
Are you unable to show annual figures for closed financial years? There are still options under certain conditions. You as an entrepreneur are also tested. You are not allowed to have arrears registrations at the BKR.
Still a business credit with Grow if you have been active for less than three years
Without annual figures over two financial years, you can still request a business credit from Grow. For this you must meet the next one conditions:
- You have a starting capital;
- You have insured business and liability risks;
- The company has equity capital;
- Your company has existed for at least 18 months and you can submit annual figures for one financial year;
- Your business plan has been approved by your bookkeeper or accountant.
We request the business credit for you at a discount
By applying for Grow business credit through us, you can count on a discount and support. We guide the application for the credit for you. You also pay lower or no closing commission through us. And we have already helped hundreds of entrepreneurs with lower interest rates and better financing conditions. Apply for your business Grow credit through us and you have an increased chance of success.