💡 First things first:
The loan offer is only available in France and Italy at the moment. We'll expand it to other countries in the following months.
Be sure to verify that you are eligible for our loan offer. You will find all the information you need in this article.
In order to provide you the best possible experience, we will be opening access to this feature gradually over the coming weeks. If you meet the criteria, you will be able apply for a loan very soon!
Getting a loan with Qonto is simple, fast and 100% digital. We have teamed up with October, the European loan platform for SMEs, in order to offer you the smoothest experience possible.
Applying for a loan takes two steps:
The first step occurs in your Qonto app
The second step takes place directly on the October platform
1. How do I start applying for a loan on Qonto?
If you are eligible for the offer, go to your web application, then click on Settings and tools and go to the Other Services section. You should see a Financing section appear.
☝️ If you are unable to see this section, either your company is unfortunately ineligible for the loan offer at this time, or the feature has not been rolled-out to you yet. To find out more, don't hesitate to contact our Customer Support team, by clicking on the purple button at the bottom right corner of this screen.
When you open this menu, instructions will be displayed, and you will be asked to consent to sharing your information with October.
To confirm your interest, simply click on the purple button Test my eligibility at the bottom of your screen. You will then receive an e-mail from October outlining the next steps to follow.
What do I need to share my information with October?
Normally, applying for a loan is a lengthy, drawn out process that involves sending your bank a number of papers and financial documents.
With Qonto and October, this process is entirely digital. We send your transaction history and banking information to October directly and securely. This way, you avoid having to send all your documents yourself. October uses only those data necessary to offer a loan.
By clicking the Test my eligibility button, you authorize us to send this information to October, helping you save valuable time throughout the process.
2. How does the loan application process unfold on October’s end?
Once you have confirmed your interest in securing a loan in the Qonto app, you will receive a message from October to continue the process. From this point, everything is done directly on the October platform. The whole process should take no more than a few minutes.
To ensure you are ready:
Prepare a brief description of your project. A few lines will suffice.
Have on hand information on your debt and your equity. You will be asked to provide this information later.
When you are ready, open the email sent by October and click on Continue my application. You will then be asked to answer a few questions about your project and your company.
Once you have finished, you will receive a response instantly. If your project is approved, you will receive a conditional offer for a loan. If you agree with the terms, you will need to accept it to receive your final offer in a few days. 🤩
☝️ Keep in mind: October is a loan platform that connects you with a community of individual investors. These lenders will be financing your project if it is approved.
If you accept the offer, your funds will be deposited directly to your Qonto account in 2 to 4 days. 🏦
3. How do I repay my loan?
Once your project is approved and you have accepted the offer from October, you will sign a contract with a detailed repayment plan.
Every month, the repayments will be debited from your Qonto account via a SEPA direct debit. To set up the automatic direct debit, October will ask you to sign a SEPA debit mandate.
Warning: Do not borrow beyond your repayment capacity.