The European fintech world moves to finance SMEs: Qonto, a finance management solution for everyday banking and accounting, and October, a platform for SME loans, have launched a partnership to make access to the Internet easier.

The agreement allows Qonto customers in Italy and France direct access, through an immediate procedure, to a financing which can be provided only by traditional credit institutions so far.

To request a loan with Qonto from October, it takes only a few minutes and, if successful, funds are paid to the user’s account within 4 days.

The process is defined as fluid and intuitive: with a few clicks and answering a few questions, the user receives an offer generated by an analysis model, which evaluates the request on the basis of its banking transactions, ensuring maximum reliability in safety.

Unlike traditional banks, October and Quonto do not require personal guarantees or tax returns, they only provide some basic information about the project to be financed and the business.

How to apply for financing in October and Qonto

To make the service democratic and accessible to more users, October and Qonto have set eligibility requirements as inclusive as possible: to be Qonto customers for at least a year and to have generated a turnover of at least 60,000 euros in the last 12 months.

With these requirements, Italian customers of Qonto can apply for a loan, lasting 24 months, up to a maximum of 30,000 euros.

In Italy, the October offer for Qonto customers will be activated during the month of May, but already today for companies it is possible to report their interest in financing, so that their request is handled as soon as the service is operational.

October and Qonto plan to extend the service offered in collaboration in the other European countries in which they are present, starting from Spain.

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