The most difficult part in the procedure for registration of bank loans for small business is usually a search for liquid assets to provide as collateral. Reliable software mainly serve only real estate assets, but that banks offer and unsecured loans for small businesses at competitive price. Even a small review of proposals domestic banks can detect several options such loans.
Small business loans without collateral-Now there is a change in lending, which previously entrepreneurs can only dream of. Processes that occur in the business environment, require banks to retreat from the established rules and easing some demands made. Currently, many banks have programs concessional lending to small businesses. Under these programs, small business entities entitled to unsecured loans for working capital of the enterprise. Rates, insurance and additional fees on these loans is quite high, but thanks to state support of small business receives preferential treatment in the form of payment to pay the lending rate.
For registration of unsecured soft loan will have to prepare a business plan, financial statements for the sales of their products or services, to conduct a financial audit. Also, it is necessary to transfer a significant portion of its cash flow is in the creditor bank. Bank employees will be able to see firsthand your financial solvency and will be loyal when deciding whether to grant the loan.
Paperwork will have to do very much. However, the result will also look solid. For some programs the state can compensate for up to 90% of the loan, not to mention the interest rate compensation. In general, government programs aimed at the development of agricultural business in the industry to get a loan for a small business is much easier than in a trivial trade.
In our country, there is another small but interesting nuance. If you took a loan without benefits and are applying to the responsible authority for receiving subsidies at the beginning of the year, you can deny basic due to the lack of money in the budget. But we should not lose hope. Usually money for small business lending program appear only at the end of the calendar year, and you can get them much easier than at any other time. The reason is simple: if the officials have a plan, and reporting on the implementation of state. programs and at the end of the year they need the money allocated for concessional lending to small business is required to spend. In urgent cases, you can even do without bribes or other gifts.
She, by the way, will not be able to hide – the banks get their information from a single database, which is stored all the information about you received loans and repayment discipline. These two factors may affect not only the decision on granting a loan, but the interest rate and term of the loan. Incidentally, the term of such loans varies from 12 months to five years.