These FAQs are designed to provide a better understanding of TOP Credit.
What types of loans are available through TOP Credit?
TOP Credit offers many types of short-term business loans, also guarantees, factorings, debt financings and other credit products depending on the client’s needs.
What is TOP Credit`s minimum loan amount?
TOP Credit minimum loan amount is € 5,000.
How long does the application process take?
Typically the process takes 10 days, providing the applicant has all the necessary documentation.
How soon can I get my money after my loan is approved?
After credit approval, you may access your funds the same business day.
How do I qualify for a TOP Credit loan?
TOP Credit expects you to be able to repay the loan from the current cash flow of your business. You must be of good character and not convicted of a felony. TOP Credit typically looks for a collateral pledge and owner’s suretyship as part of the deal.
How can I apply for a TOP Credit loan?
You need to register in a MEMBERS zone and then send an application.
What are your current interest rates?
Rates are updated regularly and are based on the specific characteristics of your credit application including, but not limited to, evaluation of credit history, amount requested, and geographic location.
What types of businesses are eligible to apply for a loan?
TOP Credit offers assistance to many different types of businesses. However, businesses that engage in weapons sales, illegal or polluting activities, or adult businesses are among those that are not eligible.
If I already have a TOP Credit loan, can I apply for an additional loan?
Yes, you may have more than one loan with TOP Credit as long as you qualify.
Can I take loans from other institutions at the same time as this loan?
You are not restricted from borrowing from other banks and financial institutions alongside this loan. However, you are legally obliged to provide accurate information about loans taken by you.
Can I prepay on my loan?
Borrowers may prepay all or part of the unpaid balance on any TOP Credit loan at any time, without an early repayment penalty if it is agreed in the contract.
Who do I contact for more information?
For more information please send us an email.