Terms and conditions
Creddo AB: Company Information and Registration
Creddo AB, registered under organisation number 559207-3786 (“Creddo”), is supervised by the Swedish Financial Supervisory Authority (Finansinspektionen) and is authorised to act as an intermediary for loans. Creddo offers a comparison and brokerage service that enables companies to compare loans and terms from collaborating banks, lenders, and financing advisors (the “Service”).
Definitions
Service:
The loan comparison and brokerage service provided by Creddo, through which Users may compare financing options and/or be connected with various collaborating banks, lenders, and financing advisors.
User:
The business entity making use of the Service. These terms and conditions apply exclusively to companies, sole proprietorships, and business entities. They are not intended for private individuals acting as consumers.
Intermediation:
The process in which Creddo acts as an intermediary to collect and present loan offers to the User.
Service Delivery and User Benefits
Through a single application, you may receive loan offers from various banks and other lenders. You may compare the terms offered and choose the option that best suits your business. The Service may be used both to refinance existing loans or to obtain a new loan if desired.
A key advantage of using Creddo’s Service, instead of contacting banks individually, is that a single application is sufficient to access multiple offers.
Non-Binding Applications and Liability
Submitting an application is non-binding, and requesting offers is free of charge. Your business only becomes bound once it signs an agreement with the selected lender.
Disclaimer:
Creddo accepts no liability for any loss or damage that may occur if your business decides to enter into, or decline to enter into, a loan agreement with any collaborating lender. It is the User’s responsibility to verify the information provided by Creddo regarding offers from our partners. Creddo does not guarantee that information from third parties is accurate, complete, or up to date.
Users indemnify Creddo against claims arising from decisions to use the Service or to enter into a loan agreement with any third party.
Responsibility and Privacy of User Information
Creddo processes personal data in accordance with its Privacy Policy and applicable legislation, including the General Data Protection Regulation (GDPR).
Third Parties and International Data Transfer:
Creddo may share User information with third parties such as lenders and credit rating agencies to deliver the Service.
Consent to Credit Checks:
By accepting these terms and conditions, the User grants collaborating lenders of Creddo permission to conduct credit checks on the User’s company and any guarantors. If the User does not grant such consent, Creddo may decline to provide the Service.
By providing information to Creddo, the User confirms that the information is accurate and that they are authorised to share it. Creddo uses the information solely to deliver the Service and will request explicit consent for any use beyond this purpose.
By submitting the application form, the User agrees to Creddo’s Privacy Policy.
In the event of any dispute regarding the meaning of these terms, the English version shall prevail.
Fee Structure and Payment Terms (UPDATED)
If the Service results in a successful intermediation—meaning a financing solution is concluded through Creddo for a loan with a principal amount exceeding €5,000—a brokerage fee (“success fee”) will be charged. This success fee is calculated according to the following tiered structure:
- 2% on the portion of the principal amount up to and including €49,999
- 1.5% on the portion of the principal amount from €50,000 and up to and including €100,000
- 1% on the portion of the principal amount from €100,001
The User agrees to pay this fee within 7 days after receiving the invoice. The invoice will be issued by Creddo once the loan agreement between the User and the selected lender has been concluded.
If the Service does not result in a successful intermediation, meaning no financing solution is concluded through Creddo, no fees will be charged. In that case, the Service remains free of charge.
Creddo also offers an optional premium service, allowing Users to prioritise their application over other applications. This premium service is voluntary and will only be charged if the User explicitly selects it when submitting the application.
By using the Service, the User agrees to this fee structure and the associated payment term of 7 days from invoicing.
Communication and Amendments to the Terms
Creddo reserves the right to amend these terms and conditions. Users will be notified of substantial changes via email or within the application. Continued use of the Service after such changes constitutes acceptance of the updated terms.
Jurisdiction and Applicable Law
These terms and conditions are governed by Swedish law. Any disputes arising from or related to these terms shall be submitted exclusively to the competent court in Stockholm, Sweden.
Additional Provisions
If any provision of these terms and conditions is found to be invalid or unenforceable, the remaining provisions shall remain in full force. The invalid or unenforceable provision shall be replaced with a valid provision that most closely reflects the original intent.