Loans from finmid are designed to provide your businesses with fast and effortless access to cash for growth and development. Eligible business customers can use them for needs like equipment purchases, marketing expenses, or general working capital.
Loan amounts
You can get loans either by applying directly or receiving loan offers consisting of pre-approved amounts that are based on transaction volumes and other non-personal data.You can choose your loan size within the available limit and set your preferred repayment period. If you need a higher limit, you can apply by providing extra information through document upload or an open banking connection and can get loans up to 200,000 EUR. Please keep in mind that the actual loan agreement is executed only after you have reviewed the offer you see in your Vivid account and agree to share your details with finmid and the lenders arranged by them. In some cases, and after further checking, it is possible that your loan request is ultimately rejected by our partner.
Fast & fully digital application
Loan offers will appear in a Cash Loan account under Accounts and in in-app banners. With just a few clicks, you can view all details and apply quickly with minimal information needed. If you don’t see such an offer, you can still apply for one directly in the Cash Loan pocket. You’ll be guided through the process step by step, including uploading documents or connecting via open banking. Once you follow an offer and later on it’s approved on finmid, funds will arrive in your account up to 2 business days after. Please note that the Cash Loan account is a simulated account and does not have an IBAN, the funds will be disbursed in your Vivid Main account.
Capital fee
Each loan has a fixed fee, set up front based on your company’s evaluation, added to the total of your loan. The fee amount doesn’t change, and there are no interest charges or hidden costs.
Loan Repayment
Your offer will have a predetermined loan term, however you can customize it between 3 and 12 months. Two methods are available for repayment. For the time being you will be able to set up a standing order during the loan process via the Cash Loan Account in your Vivid Account . However in the future you will also have the option for repayments to be taken on a monthly basis directly from your Vivid account via SEPA Direct Debit.