Business loans are sometimes a must. Everyone who runs or ran their own business knows this. Total responsibility for your earnings is a huge plus, but it also involves risk. Loss of liquidity by unreliable contractors, fewer orders related to the season or the need for investment leverage. To apply for a business loan in a bank, you must run it for a minimum of 12 months, have documented income on your company account and clean BIK. These requirements can be difficult for entrepreneurs who perform certain services without a contract, or need cash to start to take the company to a higher level. Fortunately, it is possible to take advantage of quick non-bank loans for companies. The advantage of financing a business with a non-bank loan is the instant decision time and a small amount or a complete lack of certificates.
Business loan offers
Which non-bank loan offer for companies should you choose?
Unlike consumer loans, the market for non-bank products for businesses is not growing so dynamically. Only a few companies offer loans to entrepreneurs. Why is this happening? Because it is definitely a smaller market. The vast majority of sole proprietorships when applying for a bank account also decide to apply for a debit card, which they usually get. In addition, more and more banks are making proposals for business operations. However, very often the requirement is to run the company for at least 12 months, which naturally leads many people to the non-banking market. So – which non-bank loan should you choose? You can choose from companies providing installment loans, payday loans up to 30 days, and secured loans. Although the latter enjoy the lowest interest rate, the required security may be too high a risk.
Are business loans expensive?
In the absence of collateral, the costs of loans to companies and sole proprietorships often do not differ from loans to consumers. Interest rates tend to be similar, and companies allow negotiation only at high amounts. Unfortunately, the company does not provide additional opportunities in this field. Better conditions an entrepreneur can only get if he applies for a loan or a bank loan. Then, in fact, it has a chance to finance on great terms. It may also be a good idea to apply for a credit card. A limit of up to several thousand will allow you to maintain liquidity without applying for a loan.
Every entrepreneur who has ever found himself in a situation forcing him to immediately obtain financial resources knows perfectly well that non-bank loans for companies will be a good way out of this position. With loans for companies, you can not only start implementing all plans, but also guarantee companies liquidity.
Business loan – what are the requirements?
Business owners – regardless of their size – can easily apply for a non-bank loan for companies, provided they meet certain criteria. They are certainly not as strict as in the case of stationary banks, and what’s more, money can be obtained very quickly, without unnecessary procedures. All you have to do is complete the application and await the loan company’s decision.
Non-bank loans for companies without BIK
Some non-bank companies offer loans to companies without BIK checking. It is clear that some companies have or have had problems with financial liquidity that ended in an entry in the BIK. This is an unpleasant situation, which often limits the chances of a bank loan for companies. Loans without BIK checking are granted, among others, SpeedCash and Ascot Finance. Most loan companies also do not require certificates from the Tax Office, which makes the loan application and processing process very fast.
Loans for companies and their types
Some lenders have at least several loan offers for companies, which means that entrepreneurs have a choice. The most popular types of loans for companies include, but are not limited to, investment loan, revolving loan, payment loan, bridging loan and technology loan.
An investment loan – as the name implies – can be used to implement all types of investment projects that require the involvement of significant capital. The purpose of a revolving loan is to provide the financial resources needed to cover current business expenses. The company can secure financial liquidity thanks to a payment loan, while a bridging loan, after obtaining a recommendation, will intensify the company’s operations. The development of production technology can be supported by a technology loan.
Why do entrepreneurs get into debt?
Contrary to appearances, it is not difficult at all. Contrary to the attitude of banks, even those entrepreneurs who are just planning to start their own business can count on financial support in the form of loans for companies. While banks consistently demand from potential entrepreneurs the presentation of documents certifying their income and scrupulously check the creditworthiness of borrowers, loan companies do not require a lot of certificates and the applicable procedures have been limited to the minimum necessary. This is an extremely important aspect because it is difficult to demonstrate income for a company that is in the creation phase.
All types of non-bank loans for companies have different parameters, which is an extremely positive phenomenon, because every entrepreneur has a chance to tailor their choice to individual needs. Increasingly, there is the possibility of obtaining a non-bank loan for companies, which is one of the most favorable forms of credit, because the risk borne by the lender is significantly reduced.