You can name a few conditions that will necessarily be considered by bank employees and increase the chances of obtaining money.
1. Detailed business plan
If you do not know what it is, then it's unlikely that you should start your own business. The program in which the necessary funds are calculated, the cost objectives, customer demand, the time and amount of expected profits, is necessary for the entrepreneur himself. It is simply impossible to substantiate economically and financially the required amount without a well-written document.
Of course, there is an option with the purchase of a ready business plan, but in this case, it is better to contact a company specializing in the performance of such services.
The business plan details how the received money received in the bank will be spent, how long it will pay off and what profit it will bring. A correctly drawn up document can occupy dozens of pages, but it is desirable for a bank to compile a compressed version in which the main provisions are discussed.
2. Availability of collateral
In case you can provide a deposit, the opportunity to get money from the bank increases significantly. At the same time, the annual rate decreases, the period for which a loan is issued and the amount provided is extended. However, only property that can be sold quickly is accepted as collateral - liquid.
The loan can be secured by:
· real estate - apartment, house, land plot;
· transport - both automobile and any other;
· other liquid assets.
3. The Surety
Much easier to obtain a loan presence of a guarantor, who can act as a legal or an individual. If you have a sound business plan, you can provide it to business centers or other government agencies that help start-ups. Under their guarantee, banks issue funds without any problems.
4. Credit History
The purity of credit history is checked by all potential borrowers without exception. Even if the enterprise is just beginning its activities, the history of its owners and managers will be checked. A high credit rating is formed if you:
· loans taken earlier are closed in accordance with contractual obligations;
· no sanctions were imposed because of delinquencies;
· there are no loan obligations not closed at the moment.
If the credit history has been spoiled, it will need to be corrected. For this, loans are borrowed in MFIs (in this case, there will not be a long wait), which are damped at the time. It should be borne in mind that repayment before the end of the payment period specified in the contract does not become a positive factor - the banks are interested in the relationship with the client for a time, agreed in advance.
You can advise to use the option of receiving and paying off microcredits and those who have a credit history does not contain any records - for the bank an empty credit history cannot say anything about the borrower.
5. Full documentation package
First of all, it will be necessary to study in detail the requirements of a particular bank (each institution can put forward its conditions) and prepare the specified package of documents.
In addition, you can attach and other, properly issued documentation. Mandatory availability of permits and licenses related to the type of activity for which the amount is taken.
Posted on June 11, 2018 at 01:58 PM