Whether you need a loan to have liquidity for your company or you need it to start a new business, we will show you the characteristics of a business loan and how to get it.
Before looking for a business loan , the viability of the business project must be fully clear and analyzed. If you first want to seek bank financing, the reason for having a viable project is not enough, because they will also be very strict with other requirements, such as these:
- Not be on any delinquent list
- Have a low level of indebtedness
- Evaluate different conditions of the loan for the business, such as the amount requested, the terms, the destination of the financing and how it will be returned
- Link obtained with the entity
- If guarantees are available
Currently, there are many financing possibilities for businesses , especially if you have a real estate guarantee or guarantee . When you cannot get bank financing, if you have an endorsement, you can get a business loan with private financing .
In the following blog we tell you how to get business loans and how Dark Keep can help you get it.
Characteristics of private business loans
Private business loans are characterized by having faster response times, with greater flexibility and without as many requirements as bank financing. In addition, it is the only option to obtain financing when the bank does not provide it.
The main benefits of accessing private business loans are the following:
- Flexibility in repayment : private financing is perfectly adapted to the needs of each business project. You can decide the best way to repay the business loan in terms of duration, type of installment (monthly, quarterly, semi-annual or annual), type of repayment and grace periods.
- Access to financing : when bank financing does not give credit, private capital is the only way to get it, regardless of the size of the company or whether it is in a delinquency registry such as Rai or ASNEF. Also when you have a very high CIRBE record, for private capital, it is not a problem to grant a business loan either .
- Speed : both the personalized treatment, the analysis of the operation, the response on the acceptance or granting of the business loan, are much shorter, faster and more agile procedures than any other type of financing. Private financing is the fastest way to get a business loan .
How to get business loans
When you go to apply for a loan for a business in traditional banking it can be somewhat complicated if the company does not have a comfortable economic situation, as we have commented previously. In the case of a new company, the conditions are even stricter, where the feasibility plan and profitability are not yet proven.
In these cases, whether your requirements are not met, or if you are a new company, it is almost impossible to get financing without an endorsement.
If you have an endorsement or a real estate guarantee, the best way to get a business loan is with private financing . There are only two requirements to get a privately financed business loan:
- Have a real estate property
- That this property is free of charges or with few debts
To access a loan for privately financed businesses , you only have to meet these two requirements:
- Have a real estate guarantee : this guarantee will be used as collateral. To assess the viability of the operation, the location of the property, the appraisal value and the charges attached to it will be analyzed.
- Minimum amount of € 20,000: to access private capital, the amount to request, at least, is € 20,000 in order to ensure the viability of investors and be able to obtain the correct interest rates for all parties.
Once we are clear that these requirements are met, in order to analyze the viability of the operation and get a business loan we only need this documentation:
- Simple note of the property
- Corporation tax and company balance sheets
Only with this documentation, we will get going and in 24 hours we will know if the operation is viable or not and, if the operation is viable, in about ten days you will have the financing you need.
If you have any questions and need help or advice, you can fill out the form on the right or call the nearest office and Dark Keep will be happy to advise you and help you get a loan for your business .
New business loans
There are many people who wonder if it is possible to access loans to open a new business , since the initial investment can be very high and the viability of the project is uncertain.
In addition, only the fact of buying or renting a premises, if you need to buy machinery, or carry out an advertising campaign to publicize the brand, requires a very important investment where without financing it is impossible to start a new project. For this reason, you need a loan for a new business and, if the bank does not grant it, you have to resort to private financing.
The main reason is to believe in the business idea and have a good viability plan, because a new business carries more risks than an already established company. If you really have faith in the project and you need a loan to start a new business , there are home equity loans . At Dark Keep we are leaders in this sector and you can get more information and learn about all the advantages on our blog.
With this type of home equity loan , the only requirement is to guarantee the financing with a property free of charges, or with very little. It will not be necessary to present the business plan or appear in delinquency files.
If you really believe that your project is viable, you will not worry about getting a new business loan with private financing.