Bankera launches business loans for digital SMEs

Tuesday 28 July 2020 10:10 CET | News

Lithuania-based fintech Bankera has started to offer business loans for small and medium-sized enterprises (SMEs). 

The model for Bankera Business Loans was developed at the European Commission hackathon as a response to COVID-19 back in April 2020. The lending solution aims to aid a market segment that has been underserved by legacy banks. Despite the easing of restrictions necessary to stop the spread of COVID-19 around Europe, several businesses are still at risk. For now, Bankera Business Loans are available for Lithuania-based business only. However, on a case by case basis and depending on their business model, companies and freelancers across Europe would be considered for a loan.

The range of Bankera Business Loans services includes business invoice financing (factoring), refinancing, along with short-term lending services that aim to relieve business development or digitization costs. Interest rates are determined for each loan individually by evaluating a variety of variables during the application procedure. Loans range from EUR 2,000 to EUR 50,000 and are offered for a maximum period of 2 years with a possibility to postpone the payment, according to the official press release.

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Keywords: Bankera, business loans, SMEs, digital sector, COVID19, Bankerea Business Loans, European Commission, Hackathon, lending solution, Lithuania, Europe, business invoice financing, refinancing, short-term lending services
Categories: Banking & Fintech
Countries: Europe
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Banking & Fintech

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