Christmas is, as you know, a department store with a wide range for all home fixers etc. It is a family company that celebrates 40 years this year and they have gone from selling a single product (a woodcutter) to a large number of department stores around Sweden and also some in other countries.
In some cases, it may be more logical, for example, if it is possible to implement credit solutions where the loan operations can handle installment purchases in their own stores or credit cards, etc. But it is far from always how it begins. For example, Loan and Credit has no direct connection to Jula or purchases from them, but they are simply an independent sister company.
The reason why you have chosen to enter the finance industry
Is that you believe in the industry, which has a rapid growth and that there is a great demand for medium / large private loans. One of the reasons why this demand has been strengthened is the new mortgage repayment requirement and that consumers have partly changed their behavior.
Haven’t you heard of Loan and Credit? It’s probably not that strange. They started their business in early 2019 and, according to themselves, have “sneaked” a little quiet to know the target group and to be able to fine-tune the business. The idea is that during the year they will communicate their brand more and more and certainly also more advertising in the future. In the future, it can certainly become a well-known brand.
Loan and Credit can help those who want to buy their first home, renovate or expand etc. They offer private loans between USD 30,000 and USD 300,000 with a maturity of 2 to 10 years.
Information about the loan
The setup fee is reasonable, only USD 250 and you can completely avoid the subscription fee if you choose to pay via direct debit. E-invoice costs USD 20 and paper invoice USD 45 if you absolutely want an invoice of some kind.
The terms of the loan seem to be quite similar to the requirements that are usually placed on private loans. You need to be at least 18 years old, be registered in Sweden and have a fixed income. You cannot have any payment remarks or debts with Good Finance. Unfortunately, I can’t say exactly what interest rate you can get because it has not been written off, but Loan and Credit works as most people do and offers an individual interest rate based on how much you want to borrow, how long and your personal conditions.
Some other things that they seem to offer are the possibility of two payment-free months and that you can change their repayment period if needed (certainly not change freely back and forth but in some way). As always with regard to private loans, you can make extra payments on the loan at any time when you have the desire or advice.