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Compeon unleashes SME loans in Germany

Friday 10 August 2018 | 02:29 PM CET

Compeon has launched its Digitaler Mittelstandskredit (DMK), a digitised corporate loan for SME companies in Germany.

The company says there are no manual steps – right up to contract signing. SMEs can access finance of up to EUR 750,000 within a maximum of 48 hours. A loan of EUR 100,000 can be agreed within 24 hours.
Compeon explains that once the financing parameters have been input, a fully digital process is initiated in which all parties communicate via interfaces (APIs).

Advance data about the customer is obtained from the company register, credit agencies and the e-balance sheet and fed into the bid. The technical integration between the systems of solarisBank and Compeon enables customer verification and the digital signature.The nominal interest rate on loans starts at 2.7% with no need for collateral.

According to Compeon, it works with more than 220 banks, savings banks and alternative financial partners.

In addition to credit, loans and leasing, the platform offers factoring and alternative financing solutions including mezzanine capital and project financing.

More: Link