The loan application process is straightforward, typically taking no more than 5 minutes.
Applying for the pre-approved loan offer:
Find your loan offer - Go to your Cash Loan account under Accounts. Keep in mind that this account does not have an IBAN.
View loan details - Select the account to see all the details of your pre-approved loan, including loan amount, capital fee, total amount, loan term, repayment term, and monthly repayments (you can adjust the loan to a lower amount than that offered or customize the term by selecting “Customise or apply for a higher limit”).
Select loan purpose - Scroll to the bottom of the screen and choose the reason for your loan.
Accept and verify - If you agree to the terms and give your consent so Vivid can share certain personal data with finmid, tap “Agree and verify your identity.”
Confirm your phone number - Enter the phone number linked to your Vivid account (it must match with the registered phone number you have with Vivid).
Complete 2FA - You’ll receive a verification code via SMS. Enter it in the provided field. Once verified, your information will be securely shared for further checks.
Submit your application - Your request will be sent for review.
Track your status - You can follow the progress of your application in your Cash Loan account.
How do I apply for a higher limit than the initial offer through finmid?
Choose to customize – Select “Customise or apply for a higher limit.”
Set your desired amount – Choose the amount you’d like and press “Continue.”
Provide additional information – Provide additional information from external sources by uploading documents such as Profit and Loss Statement, Cash Flow Statement, Balance Sheet and Bank Statement (documents should not be older than the previous year)
For German customers, you can also connect via open banking instead.
Locate and select your bank, then press “Continue.”
Submit your application – Once all documents are uploaded or your bank is linked, select “Submit information.”
Review and new offer – Your application will be reviewed within 2 business days. Our partner will provide a new maximum offer, which you can adjust within the new limits.
Approval of loan:
You will be informed via the Cash Loan account and via email if the application is approved. Please note that pre-approved offers are not guaranteed and the loan can ultimately be rejected during the application.
Loan disbursement
The disbursement is going to take up to 3 business days to your Vivid main account
Once the loan is approved a repayment begins, you will be able to track your loan updates through the Cash Loan account.