At New10, promising SME entrepreneurs can get financing online. This online financing service is an ABN AMRO initiative that responds to the growing need among entrepreneurs to manage their affairs online.

Many SME entrepreneurs have big ambitions to develop, but they lack the capital to realize these ambitions. Therefore, ABN AMRO introduced New10, an online financing service that specifically focuses on young and promising SME companies. According to ABN AMRO, small and medium businesses have an important function in the economy and are drivers of economic growth. A growing group of entrepreneurs are also looking to take their credit completely online. New10 was founded specifically for this group.

New10 – which is an SME – provides loans ranging from €20,000 to €1 million. The government must also play a strong role in simplifying and speeding up the financing process. Entrepreneurs can easily collect their credit through the website, based on goals, type of company, term and loan amount. With the help of the slider, entrepreneurs can organize their credit according to their preferences. Next, you can immediately check whether the credit has been approved. Entrepreneurs upload transaction data and company annual figures, after which New10 automatically checks credit worthiness. New10 promises clarity for entrepreneurs in 15 minutes.

With a positive decision regarding a startup’s creditworthiness, entrepreneurs can expect the credit to be credited to the company’s account within two days. Daphne de Kluis, CEO Commercial Banking at ABN AMRO, explains the value of New10 further: “New10 epitomizes our vision of digitalization and innovation. An entrepreneurial approach is very important in this regard. We combine the bank’s internal knowledge and experience with digital skills and ideas from outside the bank. New10’s fully digital approach addresses the desires of a group of entrepreneurs who want to do everything online.”