If you are an entrepreneur and need credit, but are already tired of the bureaucracy, the barriers and difficulties imposed, and the high fees charged by financial institutions, be sure to read this text until the end. It will be very useful for you. We will present the details to get lower interest loans for your company.
Of all the alternatives, bank lending is the most bureaucratic. They also usually have high interest rates, which end up making the loan expensive. It is therefore interesting to opt for the alternative only when it is the only solution. To understand all the services available for business lending.
Have you heard of peer-to-peer lending?
If you have not heard, no problem. We explain it to you. It is a modality that brings together entrepreneurs and investors. It is like a bridge to connect small and medium businesses with individuals interested in lending.
One of the platforms that does this is Loan and Credit, online, safely, without stifling fees and without bureaucracy. It offers lower interest rates for companies and higher returns for investors.
I want a loan. What to do?
- If you are a businessman and found the idea interesting, the first step is to register on the Loan and Credit platform.
- Then apply for the credit.
- If it is pre-approved, the request is made available to investors who will decide if they want to fund and the amount they will offer.
- Once interested, the contract is digitally signed.
- Then the company gets the value of its loan and the investors their monthly repayments.
What are the advantages?
In addition to being able to order everything online quickly and securely, rates are up to 70% cheaper than those found at banks. This is because your company will be funded directly by investors and there is also a reduction in physical agency maintenance costs, since everything is done digitally.
Another advantage is that you do not need personal guarantees of property or vehicles; it is enough that there is guarantor in the operation, which must be partner of the company. He must file his income tax return, but if exempt, he may also make available his pro-labore or pay stub for the past few months.
What are the conditions?
The platform stipulates a minimum and a maximum amount for the loans. They can be between $ 25,000 and $ 200,000 at the first request. If all goes well and after paying three installments, the company can already apply for another financing, including larger amounts. The payment period can be from 3 to 24 months and interest rates are 1.4% to 2.6% per month, with Total Effective Cost ranging from 1.9% to 4.2% per month – including all expenses such as commission and IOF (Tax on Financial Transactions).
It is ideal for companies that need working capital or to balance cash flow; for those wishing to expand their operations or open a new unit; as well as if you need to refinance some high interest loans with lower rates, as rates start at 1.3% per month.