\u201cOur business loan portfolio includes hundreds of small companies,\u201d said Sten Tikk, member of the management board of Nordic Hypo AS. \u201cOur clients include construction and real estate businesses, agricultural producers, retail companies, as well as various service providers.\u201d<\/p>\n\n
\u201cWe approach our clients on a personalised basis, and the decision process for granting a loan takes place within a day,\u201d says Heikki Rannik, member of the management board of Nordic Hypo. \u201cFor larger financiers, this can take one to two weeks. But a merchant who needs funds to stock up on goods tomorrow cannot wait two weeks. We can find a quick solution for such cases.\u201d<\/p>\n\n
Nordic Hypo\u2019s clients include many agricultural producers with seasonal incomes. \u201cThey turn to us because we can offer a personalised approach and recognise that farmers\u2019 incomes are seasonal,\u201d Tikk explains. \u201cBanks, on the other hand, want to see a steady revenue stream.<\/p>\n\n
If you need money for spring planting, it is not worth selling off your land, as its value will increase over time. You can take out a loan against the land if necessary.\u201d<\/p><\/blockquote>\n\n
\u201cBanks tend to expect you to already be wealthy while Nordic Hypo is fast and flexible, and we can negotiate repayment terms,\u201d says Regina Aru, owner of construction and renovation company Starplex O\u00dc, explaining why they have taken out three loans from Nordic Hypo over the past two years. The owner of the construction company admitted that Nordic Hypo offers somewhat higher interest rates than banks, but speed and convenience take priority for her company, as does the ability to take on larger projects.<\/p>\n\n
Nordic Hypo offers flexible loan interest rates depending on the loan period and amount. \u201cWe currently operate with annual loan interest rates of 13\u201317%,\u201d says Tikk. \u201cBusiness loans are generally for a year or two.\u201d Rannik recommends doing a background check when choosing a financial partner. Just as lenders usually conduct background checks on both the company and its owner, borrowers should do the same and determine whether the lender is a licensed financial institution and how long it has been operating.<\/p>\n\n
Nordic Hypo AS received authorisation from the Estonian Financial Supervision Authority to operate as a mortgage creditor in March 2016. A mortgage loan, or real estate loan, is a loan collateralised by real estate, such as an apartment, house, summer cottage, land, farmland or forest. Mortgage loans are more flexible than other loan products both in terms of conditions and choice of use. Nordic Hypo was founded in 2014, but its team members already have 20 years of experience in the financial services market. Business loans account for 35% of Nordic Hypo\u2019s portfolio and this number is growing at a steady rate.<\/p>\n","protected":false},"excerpt":{"rendered":"
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