The biggest difficulties when opening a business? the lack of financial resources. To be? what? Is it a good idea to take out a loan to kick it? initial in your plans? At the invitation of Good Lenders Credit, we at Cream Finance? We will help you to understand how a loan can give you strength when opening a business and, mainly, if it is? a good idea for you.
More important than getting a loan to open your business, are you? you need, first of all, to make sure that you need to hire a credit to put your idea into practice. Many people do not have a clear idea of what they need or do n’t need to take out loans.
When taking a loan to invest in a business is worth it?
Check how much it? profitable; analyze the initial demand; research your target audience; talk to possible suppliers; and make a survey of your possible competitors. Remember that if you get a loan to give gas? in your business without having an idea of profitability in the first months, you may end up losing your company’s direction even before it shows potential (a very critical situation if you are looking for investors for your business).
Besides, if you need a lot of time for your business to start making a profit, consider other possibilities, like collecting money, looking for partners or investors, or even start a small business and gradually expand. ? it is even possible that a loan is only it makes sense for your business in a scenario of expansion of structure or operations. That is, s? in the future.
Should your planning also consider taking out a loan to start a business? Valid only when your business allows you to have sufficient income to maintain activities and pay the loan installments. A loan that is considered good has installments that represent between 20% and 25% of the company’s net profit.
How to choose the best loan?
Are you? he thought, planned and decided to take a loan to open his business. The challenge now? find a credit line that meets? Your necessity. Each modality presents specific interest rates, conditions, values and rules.
The payroll? one of the types of credit with the lowest interest rates on the market. The payment? done through installments discounted directly from the payslip or from the person’s retirement, making it easier for both the borrower and the recipient. In addition to competitive interest rates, the payroll loan has a term of 72 months to settle the debt.
The disadvantage of the payroll? the fact that only pensioners, INSS retirees, civil servants and employees of private institutions that offer payroll loans can apply for this credit.
The personal loan? one of the credits with less bureaucracy at the time of hiring, and can be hired completely online with just a few clicks.
Personal credit? a relatively affordable modality, which can be a good option if you need quick capital. One drawback, however,? that their interest rates tend to be higher. But nothing that compares to the revolving credit card or the interest on the overdraft. ? Because they are structured in a way to reduce costs in credit operations, some online credit options offer far more competitive rates.
Using Working Capital as a Loan? Factoring
In simple terms, factoring? a relatively safe way to receive? view what was sold in installments. The customer, often a business owner, uses factoring to mediate the process of discounting duplicates, that is, factoring buys the duplicate of the installment sale and pays the value of the title? customer view.
Factoring? It is an excellent option for those who need to buy raw materials frequently, receive a very large amount of pre-dated checks or make great value installments.
Like the payroll loan, the secured loan has one of the lowest interest rates on the market. In this modality you? You can take out a loan with a vehicle guarantee or with a property guarantee. That is, you? uses a personal asset to guarantee payment of your loan. This causes the risk of the operation to decrease for the financial institution, also reducing the interest rate of the loan.
In addition to the lower rates, another great advantage of the secured loan? the term. In this modality, you? have at? 240 months to pay, that is, 20 years. The downside? that, necessarily, the applicant must have a property or vehicle to be placed as collateral in the credit operation. Besides, you risk losing the asset if you are unable to repay the loan.
It is a type of credit that provides opportunities for those who want to start a business, but have little money.
The microcredit can be requested by formal (with CNPJ) or informal (without CNPJ) juridical persons as well as for a small homemade cake-making enterprise, or a beauty salon in the back of the house. Is that kind of credit? granted by accredited financial institutions and has also very low interest rates.
A considerable disadvantage? that the payment term is usually 24 months – may be short for those who are? starting a business.
To apply for a loan as a natural person you need? present updated personal documents such as RG, CPF, proof of residence and, most importantly, proof of income. In the case of a legal person,? It is necessary to present the CNPJ and bank details of the legal entity.
The documents accepted as proof of income are the payroll (pay stub), income tax return, bank transaction of the last 3 or 6 months and DECORATE for self-employed / businessmen.