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Kapilendo, Varengold Bank create digital access to instant loans

Thursday 25 June 2020 09:41 CET | News

Hamburg-based Varengold Bank has teamed up with Berlin fintech Kapilendo to offer small and medium-sized enterprises a fully digital application process for instant loans.

The instant loan (GER: Schnellkredite) is offered by KfW, a German state-owned development bank based in Frankfurt. German companies with more than ten employees can apply via www.kapilen.do/kfw-schnellkredit. The loans will be 100% guaranteed by the German Federal Government, according to the official press release.

API services by SCHUFA, a large German credit bureau, ensure that the eligibility verification process and associated compliance checks can be conducted digitally. Overall, by connecting a digital platform to this aid program, Kapilendo and Varengold Bank have created an urgently needed unbureaucratic process from application to payout.


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Keywords: Kapilendo, Varengold Bank, loans, digital banking, aid, Germany, API, credit score, credit verification
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Germany
This article is part of category

Banking & Fintech