When submitting your loan application through your Vivid Business account, a pop-up will appear offering the option to ‘Increase the speed of review’. As the name suggests, this feature allows your application to be fast-tracked, helping you receive a decision more quickly.
How does it work?
A 1.4% fee will be deducted from the total amount you received in your business account after the loan has been disbursed.If the application is rejected, no charges will apply.
Exemplary scenario:
Your average monthly revenue is EUR 30 000
You choose to increase the speed of the review with a 1.4% fee
You are approved for a EUR 65 000 loan, which is disbursed to your linked Vivid Business Account with Banxware
Once the loan is disbursed, a 1.4% fee (EUR 910) is automatically deducted from the total loan amount received in your Vivid Business account