Frequently Asked Questions

1. The Company

1.1 What does Teylor do?

Teylor is a technology company that digitizes lending processes for the benefit of banks, small and medium-sized borrowers, and private debt investors. We have developed the Teylor Platform, a modular technology platform that enables banks to digitize and automate their lending processes and SMEs to access credit online quickly and without any bureaucratic hassle. We also launched the Teylor Debt Fund, giving our SME borrowers even more flexible financing terms. With Teylor, SMEs receive a loan offer within minutes, get fair conditions, and can contact our customer service by phone or email at any time.

1.2 Which banks does Teylor work with?

Teylor works with a small, select group of financing partners, and we also operate our own debt fund. By working with different financing partners for different types of loans, we can make the process as easy and convenient as possible for our customers. As our list of partner banks is subject to change, please contact us directly to find out what different financing options we offer and which banks we work with.

1.3 What is the Teylor Debt Fund?

The Teylor Debt Fund is a Private Debt fund through which our customers can obtain financing. The advantage for customers is that private debt funds can provide more flexible terms than banks. The fund is backed by institutional investors, to whom we distribute a portion of the interest a borrower pays as a return. We decide separately for each application whether a borrower is eligible for financing through the Teylor Debt Fund or whether it is better to be financed through one of our partner banks, depending on the type of loan and the creditworthiness of the borrower.

1.4 Is Teylor a comparison platform?

Teylor is not a comparison platform. Teylor does not show you different offers for the same loan. Instead, we work with a few select financing partners to provide you with the best loan for your needs.

1.5 Who does Teylor share my information with?

Teylor does not sell your information to third parties at any time. You can read more about our privacy policy here: https://www.teylor.com/privacy-policy/

1.6 How can I contact customer service?

You can contact us by phone or email. By phone during business hours 09:00 - 17:00 on 069-3486641-0 or anytime by email at support@teylor.com.

2. Application and Requirements

2.1 How to apply for a loan?

To apply for a Teylor loan, please go to www.teylor.com, click 'Get a quote' and select the loan amount and duration you want. When the application process starts, you must fill in a form with information about your business and the loan you want. This only takes a few minutes. You will receive an offer immediately. No waiting times, no paperwork! If you agree to the conditions, you must upload a few documents, such as your annual financial statements. Then you conveniently identify yourself online via video chat. This is a legal requirement and only takes a few minutes. Once you have identified yourself, you can sign the contract digitally. Our partner bank will now conduct a final check of your loan application, which takes 1-2 business days. Provided there are no further questions, the loan will be credited to your account. This process may vary slightly depending on the loan type you apply for.

2.2 What are the benefits of Teylor's web-based application process?

Teylor offers one of the fastest and most convenient business loans available in the market. You will receive a quote quickly, under favourable conditions, and our customer service is always available by phone or email. The entire application process takes place online, including your digital signature. You don't have to go to a bank meeting, and there is no unnecessary paperwork or waiting in queues.

2.3 Is the offer really non-binding?

Yes. The offer only becomes binding once you have completed the video legitimation, accepted the term sheet, and digitally signed the loan agreement. Until then, there are no obligations or costs for you.

2.4 Why do I have to agree to a credit check by Creditreform?

Part of the application process is the assessment of your Creditreform creditworthiness index. Carrying out a credit check has no long-term impact on your creditworthiness. Sometimes, we also carry out a SCHUFA check on the borrower. Before we carry out a credit check on you or your business, you will always be informed.

2.5 What are the minimum requirements for a Teylor loan?

Your company must be registered in Germany, generate at least € 50,000 in annual turnover, and have been operational for at least two years. The annual financial statements must also be prepared in accordance with the German Commercial Code (HGB).

2.6 What legal form must my company have to receive a loan?

We accept all legal forms.

3. Documents & Contracts

3.1 How do I sign the contract?

The contract is typically signed using video identification and a digital signature via SMS-TAN. No paper form is required. In certain cases we can also offer you PostIdent or a manual signature. Please contact your customer service agent if you cannot do a video identification.

3.2 What is a “video identification“?

We are legally required to confirm the identity of the person taking out a loan. There are two ways to do this: in-person identification or video identification. In the personal variant, a person to be identified can go to a bank or post office branch with an ID card and identify themselves. With the digital solution, the person to be identified will do a video call with a trained identification expert. They will ask to show an ID document and ask questions about it to confirm the person's identity. We work with IDNow, a German provider of video identification services.

3.3 Can my application still be rejected after I have completed the application form and video identification?

If our partner bank or we believe that you cannot repay the loan, the application will be rejected. Also, if the information in the documents you have uploaded does not match the information in the application form, we may not be able to grant a loan.

3.4 Can my application still be rejected after completing the application and video identification?

If we or our partner bank believe that you cannot repay the loan, the application will be rejected. Also, if the information in the documents you uploaded does not match the information in the application form, a loan may not be granted.

3.5 Why do I need to upload documents for my application?

As part of our internal review process, we also look at company documents and accounts to get a full picture of your business.

3.6 How can I upload the documents for my application?

The best way is to scan your documents and upload them to our website. You can also send them to us by post or email.

3.7 Which documents do I need to upload for my application?

We typically ask you to upload your annual financial statements (prepared in accordance with the German Commercial Code) from the previous year and a current BWA (`Betriebswirtschaftliche Auswertung'), including a list of totals and balances ('Summen- und Saldenliste'), which is not older than three months. In some cases, we also ask you for the bank statements of the last three months, further information on the planned purchase or project, and possibly an overview of existing loans.

3.8 What is a "beneficial owner"?

We are required by law to identify the owners of the business applying for a loan. These persons are called 'beneficial owners.' These are all persons who own at least 25% of the business. If a company is owned by another company, we need to know who the beneficial owners of the parent company are.

3.9 What is a legal representative?

A legal representative is the person who signs the loan agreement on behalf of the company and can represent it to the outside world. This person must sign the loan agreement but is not necessarily personally liable for the loan. No personal guarantees are typically required for the Teylor loan.

4. Conditions

4.1 What does it cost to apply?

As a borrower, you are not obliged to repay the loan plus interest until you have completed the video identification and accepted all the terms and conditions of the loan. The application itself is free of charge until the loan agreement is signed and the loan is finally approved.

4.2 What is the interest rate?

The interest rate depends on your creditworthiness and the type of loan you are applying for. You can go through the application process free of charge until you receive a quote to find out what interest rate our partner banks and we can offer you.

4.3 How is my loan application evaluated?

We check a number of different criteria. First, we check whether you meet the minimum requirements for a loan, e.g. whether your company is based in Germany. Secondly, we check company-specific criteria, such as your Creditreform rating or your financials, to assess whether you can repay the loan.

4.4 Are there hidden fees?

No. We will inform you about all costs before you sign the loan agreement.

4.5 What collateral is required?

Teylor arranges different types of loans. In general, we offer the Teylor loan without any collateral requirements or personal guarantees. However, depending on the purpose of the loan and the type of business, Teylor recommends a loan with a personal guarantee or collateral if it means the borrower can get better terms. This may be the case, for example, with a leasing loan.

4.6 What is the maximum loan amount?

There is no maximum loan amount with Teylor. Simply use the slider at the bottom on www.teylor.com to select your desired loan amount. If you need more than one million euros in financing, please move the slider to the very right.

5. Payment Modalities

5.1 In which cases does a loan payout take longer than two business days?

If weIf we find discrepancies between your application and your financial statements, we will contact you to resolve these discrepancies. This may cause your payout to take longer than two working days. If we have any queries about your business, this may also delay the process. Please note that the review and disbursement period covers only working days. So if you submit your loan application on a Friday afternoon, it may not be finalised until Tuesday morning. Finally, your bank may also need time to process the transaction. The 2-day processing time is therefore not guaranteed, but our partner bank and we will do our best to meet this timeframe as far as possible.

5.2 Why do I need to give permission for a direct debit (LSV)?

The monthly payment for the loan is automatically debited from your account by direct debit each month. To do this, you must give the bank permission to debit the money in the form of a direct debit.

5.3 What happens if the direct debit does not work?

If your direct debit does not go through because there is no money in your account, you may be liable for the late payment of your loan. If this is the case, please contact us.

5.4 How do I repay the loan?

Each month our partner bank will deduct the monthly instalment from your bank account by direct debit. You do not need to take any further action. You find all further information in your loan agreement.

5.5 Are the repayments made monthly?

Yes, the repayments are made in the form of monthly instalments.

5.6 Can I repay my loan early?

Yes, please contact us directly to discuss the procedure.

5.7 What can I do if I cannot repay the loan?

If you cannot repay the loan, please contact us so we can work with you to find a solution.

5.8 What happens if I change my bank account?

If you change your bank account, please inform us by email. Our partner bank may need a new direct debit agreement from you for the new account. Please inform us in advance.

5.9 What happens if I change my company name or address?

Please inform us by email. This change will not affect your loan or the loan conditions.

6. Partnerships

6.1 How do I become a Teylor partner?

Visit our partner page to find out about partnership opportunities: www.teylor.com/partner

6.2 What types of partnerships does Teylor offer?

Teylor currently offers three types of partnerships: First, Teylor works with System Integrators to implement its Software-as-a-Service solutions. Secondly, Teylor maintains broker relationships with various partners who recommend the Teylor financing solutions to their SME customers. Finally, Teylor has financing partnerships with banks and other financial institutions that finance loans through Teylor.