This startup provides alternative financing services for businesses, specializing in transparent business loans for turnover and investment projects with flexible terms and no hidden fees. By offering competitive interest rates, the company addresses the need for accessible and straightforward financing solutions in a complex lending landscape.
Funding
$850K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small and medium-sized businesses often face challenges in securing financing due to complex lending processes, hidden fees, and rigid terms from traditional financial institutions. This lack of accessible and transparent funding options can hinder their ability to manage turnover and invest in growth projects.
Solution
Noviti Finance provides alternative financing solutions tailored for businesses, offering transparent business loans with flexible terms and no hidden fees. The company focuses on fixed interest rates, eliminating EURIBOR-related uncertainties, and offers a straightforward fee structure consisting only of a contract fee and fixed annual interest. Noviti Finance also provides support during financial difficulties, including deferred credit installments and extended payment terms, and may waive interest payments in cases of business failure. Loans up to EUR 50,000 are available without asset collateral, while larger loans up to EUR 200,000 require real estate collateral.
Target Audience
The primary target audience includes small and medium-sized businesses (SMBs) across various sectors with a minimum of 3 months of operation and a monthly turnover of at least EUR 10,000, structured as private limited companies (UAB), small partnerships (MB), individual enterprises (IĮ), agricultural companies (ŽŪB), or public institutions (VšĮ).
Features
- Fixed interest rates without EURIBOR linkage for predictable loan costs
- Credit installment deferral options up to 4 months from loan origination
- Extended payment terms to provide businesses with more time to manage invoices
- Zero percent interest in the event of business failure, with only the remaining debt to be repaid
- Online application process with a response within one business day
- Electronic contract signing via mobile signature or Smart-ID
- Loans up to EUR 50,000 available without asset collateral
- Loans up to EUR 200,000 secured with real estate collateral
- Partnership with the European Investment Fund (EIF) under the InvestEU program to support innovation and job creation