Adjust your business loan

Pandemic, high electricity prices and inflation. Running a business is hard enough as it is, and it has hardly become easier when outside events throw around the conditions. Flexibility has always been important for entrepreneurs but becomes even more important in times like these — especially when it comes to business finances and finance.

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As an entrepreneur, you are often forced to make decisions without having all the information available and it often becomes a measure of trying to predict and plan for what is to come. While it doesn't usually happen as transformative of events as it has in recent years -- especially not with the time interval that it has -- it is more rule than exception that things change. The company grows, unexpected events occur, and opportunities appear.

What was once optimal for your business doesn't have to be one, two or twelve months later. So that you do not get stuck with something that does not fit here and now, we have therefore made it easy to adjust. Has an investment opportunity popped up, has the revenue stream changed or do you need some extra liquidity for a period? At Froda, you can easily log in and adjust your loan to fit the needs of your company today.

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Adjust your repayment rate

Choose between paying back the loan every weekday, once a week or once a month. How often you amortize has no impact on the total cost of the loan, but different repayment rates suit different companies depending on preference and revenue stream. If your company's sales have become more continuous and ongoing, you can change to a higher frequency repayment rate to have less volatility in liquidity. Correspondingly, you can lower the frequency if your company gets paid for its products and services at given times, in order to match the amortization to when there is money in the cash register.

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Make an additional deposit

You can always pay off part of your loan with Froda without any additional costs. You choose the amount you want to repay and the refund is fully automatic by logging in and triggering an additional payment. By making an additional deposit, you can lower the company's current expenses. You also reduce the total cost of your loan as you reduce the loan amount, which leads to a decrease in your interest costs as well.

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Expand your loan

By logging into Froda, you can always see your available loan space and extend your loan whenever you need. The space is updated as the company's turnover allows you to continue investing as the company grows and have an available buffer in case something unexpected happens. Since you are not tied to the amount you applied for, you can also start by borrowing a smaller amount if you want to make an investment, and increase the investment if it falls well, thus keeping the risk down.

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Extend the maturity

Do you want to reduce the size of your refunds or do you need the money a little longer? You can easily log in and extend the term of your loan. In this way, you can both reduce the company's current expenses and have access to finance longer.

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Pause the amortization

Sometimes you may simply need a break. Therefore, you can always pause the amortization of your business loan with Froda. You can pause the amortization whenever you want and as often as you want for up to 6 months. When you pause the amortization, you only pay interest while it is paused, thus freeing up liquidity that can be used for other purposes and reduces the company's expenses for a period.