Holding a business is difficult, but applying for loans for a business is right for you? Know when yes and when no.
And it is that definitely, to become an entrepreneur there are two things that you need, money to open it and also to maintain it, sometimes internet loans can be an alternative.
The National Commission for the Defense and Protection of Users of Financial Services (CDP) tells you 10 things to consider.
Start with your resources.
It will definitely always be more viable for you to get a credit when the business is already running. Most entrepreneurs get capital with relatives and friends, own savings or schemes such as partnerships and partnerships.
This has a reason and is that most financial institutions ask that companies have certain years of operation to finance them. Seed capital is very scarce in the country.
2. Everything should work on wheels.
The CDP establishes that once the company is in operation, you will have to convince the financial institution that you will pay the loan because the business is profitable, that is, it has sales, the security of supply with suppliers, and can attend its production.
3. The account has to agree.
You must make a budget to know if it will reach you to pay the fee and interest rates, once you know the conditions. If the business still has profits when making the accounts, then it is convenient to apply for the credit, otherwise, you would only be getting in an 11-shirt shirt, where will you pay for what you requested?
4. Credit should help you grow.
A golden truth, says CDP, is that in a business credit serves to generate more wealth, it is what specialists would call good credit.
5. You need to compare.
Knowing different options before deciding will help you keep the best one, everything will depend to some extent on the amount, the term, the interest rate.
6. Seek advice.
Well, approach an advisor of the financial institution or a specialist in the subject, but unless you have preparation in finance, the most convenient thing is that you ask for help to prepare your business on credit.
7. At lower risk, more opportunity.
The less risk a business implies, the more easily you will get the credit. For example, a restaurant could be considered less risky than a producing house. This can be compensated if specialized financials are used.
8. Franchises are the favorites.
This type of business to have the know-how, that is, to have a how-to-do is said to be proven, so there are more credits for those who want to acquire this type of business.
9. Read and ask, always.
The truth is that most of the contractors of a loan, any financing does not read the contracts carefully. As always, we must recommend that the deal be understood and all doubts resolved before signing.
10. Ask for help on time.
If something does not go as expected and you anticipate late payment or incomplete credit payment, you must communicate it in time to the source of financing and show a willingness to pay. Let communication prevail so that you do not fall into insolvency.
A credit is a commitment that is not easy to face, it makes all the necessary questions to know if you can meet and not affect your creditworthiness or your reputation.