Northmill bank
Northmill Business Loan
- Loans up to SEK 250,000
- No collateral required
- Apply digitally and receive decision quickly
- Fully automated and BankID-approved
| Loan Amount: | Up to SEK 250,000 |
| Interest Rate: | From 7.90% APR |
| Payout Time: | 1–2 business days |
| Repayment Term: | Up to 36 months |
Northmill Bank offers tailored business loans in Sweden with a strong focus on technology, automation, and customer experience. Unlike many traditional banks, they streamline the lending process for small and medium-sized enterprises through digital tools and fast decision-making.
Overview of Northmill Bank Business Loan
Northmill Bank provides unsecured business loans of up to SEK 250,000 with flexible repayment terms. Their services are suited for companies looking for a modern banking partner that can deliver quick loan approvals, competitive interest rates, and digital support throughout the process.
Pros:
- Quick and fully digital loan application
- No collateral required
- Transparent interest model with no hidden fees
Cons:
- Lower maximum loan amount than some competitors
- Only available to businesses with at least 6 months of operation
- Limited range of business products beyond lending
Northmill’s focus is on simplicity and automation, making it attractive to entrepreneurs seeking fast access to funding without extensive paperwork.
What Services Does Northmill Bank Offer?
Northmill Bank focuses primarily on business loans for small businesses and up to mid-sized Swedish companies. Their offering is lean and targeted, emphasizing simplicity and speed over a wide variety of products. Here’s an overview of what they provide:
Loan Product Table
| Feature | Details |
|---|---|
| Loan Amount | SEK 10,000 – 250,000 |
| Interest Rate | From 7.90% APR |
| Repayment Term | 1 to 36 months |
| Payout Time | Within 1–2 business days |
| Credit Requirement | Active company with at least 6 months of history |
| Collateral Required | No, unsecured |
Northmill’s product is ideal for businesses that want quick, digital access to modest loan amounts without dealing with long bank queues or submitting physical documents. Their platform enables entrepreneurs to track the entire process online, from application to repayment.
What Requirements Does Northmill Bank Have for Applicants?
To be eligible for a business loan from Northmill Bank, your company must meet the following requirements.
Basic Eligibility Criteria:
- Registered business in Sweden
- At least 6 months of active operations
- No active payment defaults
- Swedish corporate bank account
Additional Considerations:
- The company’s financials and credit score will influence the offered interest rate and amount.
- Sole proprietors and limited companies are both eligible.
- While no physical collateral is required, Northmill may request a personal guarantee from company owners.
Northmill focuses on assessing the creditworthiness of the business rather than relying solely on hard collateral, making their loans more accessible to smaller firms and startups with a proven track record.
How Does Repayment Work with Northmill Bank?
Repayment terms are structured to be clear and predictable:
- Fixed monthly installments: Each payment includes both principal and interest.
- Loan term: Choose a duration between 1 and 36 months.
- Early repayment: Allowed without penalty, reducing total interest cost.
- Payment method: Direct debit from your Swedish business account.
Northmill provides a full repayment schedule before signing, enabling you to estimate cash flow accurately.
How Do You Apply for a Business Loan from Northmill Bank?
- Complete the online application by providing company details, registration number, and loan amount.
- Verify your identity via BankID.
- Consent to a credit check based on your business profile.
- Review and accept your personalized loan offer.
- Payout typically occurs within 1–2 business days after acceptance.
The entire process is fully digital, with no paperwork or manual signatures required.
When Does Northmill Bank Payout Business Loans?
Payout timing depends on the time of loan approval and acceptance:
| Signed Agreement Time | Estimated Payout |
|---|---|
| Monday–Friday (before 15:00) | Same day (within hours) |
| Monday–Friday (after 15:00) | Next business day |
| Saturday or Sunday | Processed Monday |
Funds are transferred directly to your business bank account.
Customer Service
Northmill Bank offers support focused on digital and financial queries:
- Email support: Replies typically within 24 hours on business days
- Phone support: Available during normal Swedish office hours
- Online portal: Dashboard access for tracking loan status and making inquiries
They offer no in-person appointments; support is fully digital.
Facts About Northmill Bank
| Company Name | Northmill Bank AB |
|---|---|
| Address | Hudiksvallsgatan 89, 113 30 Stockholm |
| Corporate Number | 559116-5086 |
| Homepage | www.northmill.com/se |
| kundservice@northmill.com | |
| Phone | 08-408 805 00 |
Northmill Bank AB is a licensed Swedish bank focused on fast, automated SME lending with digital-first processes.
FAQ
Frequently Asked Questions
Yes. Northmill accepts both sole proprietors and registered companies, as long as the business has been active at least six months.
No. Northmill issues unsecured business loans. However, in some cases, a personal guarantee may be requested.
Early repayment is allowed without fees. This reduces your overall repayment cost.