What is the business loan?
Business loan is an unsecured loan for financing current operations and investments. Business loan is a good solution for small and medium-sized businesses, to which banks may not lend due to lack of suitable collateral.
Business loan can be a reasonable solution for a start-up business in case you lack the initial investment or sufficient collateral to obtain the bank loan. Unlike the Kredex start-up loan, MoneyZen does not impose any restrictions regarding the operations history of the applying company. Each loan is a financial obligation that must be repaid. Consider the loan terms carefully. As a result of loan repayment default your loan debt might increase due to reminder fees and other costs associated with the debt collection process.
Advantages of MoneyZen Business loan
Reasonable interest rate
MoneyZen loan interest rates are set as a result of the auction, this is the reason why MoneyZen offers better terms than competitors.
Borrow up to €5 000
You can apply for an unsecured loan of up to 5 000 euros from MoneyZen.
Loan period up to 3 years
You can borrow unsecured loan from MoneyZen for up to 3 years.Calculate repayment
Recommendations before applying for a loan
Consider carefully if you really need a loan and in which amount. If you are able to save the necessary amount monthly, you can avoid loan costs.
Investigate and compare the terms of several loan providers. So you can pick the best offer available. Remember to pay attention to the loan interest rate, annual percentage rate (APR) and what is the total repayment amount of the loan.
All your loan repayments should not exceed 33 percent of your total monthly income. This will enable you to continue repayments during a short period of unemployment, sick leave or after an accident.
Make sure that you have considered all additional terms and costs. Remember to examine all the loan terms and conditions written in small letters. Consult an expert if necessary to avoid additional obligations.