European peer-to-peer lender October has partnered with Qonto, enabling the fintech business bank’s customers to access its loans in France, Italy and Spain.
Qonto account holders will be able to access October’s classic loan as well as the state-guaranteed loan (SGL) it provides in France and Italy.
Users will be able to borrow up to €30,000 (£26,000) over 24 months for the classic loans and the same amount over 60 months for the SGLs.
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“For the first time, our customers who want to benefit from a loan, including an SGL, have the possibility to access a quick and easy credit solution to finance their project,” Alexandre Prot, co-founder of Qonto, said.
“They can organise everything from their Qonto account, taking advantage of October’s expertise.
“This new offer marks a turning point for Qonto, which has added to its range of financial management and accounting solutions a safe and efficient way to finance small businesses and the self-employed.”
October borrowers can get instant loan offers with a 10 minute application.
“The integration of October’s technology into Qonto is a precursor to what business credit will be like for everyone in the future,” Olivier Goy, chief executive of October, said.
“A simple and fast experience for borrowers that, in a few clicks, gives access to reliable data to make a credit decision.
“The first loans granted in this way are the result of six years of research and development.
“We wanted to simplify credit access to entrepreneurs: here we are.”