ABOUT THE MONEY LOANS
The liquidity necessity, to finance certain consumptions or to cover expenses usually is reasons by which the people demand personal loans.
Although the financing needs often are unforseeable, there are precise moments throughout the year in which they concentrate a greater number of requests of personal loans, where a financial aid is necessary to cover expenses.
The cooperatives do money rendering money. Nevertheless, the inexperience of many owners of small businesses in financial subjects causes the rejection of the requests of bank loans.
In order to be successful in securing a loan one is due to be organized preparation and. You will have to know the amount exact of money that needs, asks for why it and how she thinks to pay the loan. It must convince the moneylender that you are a good credit risk.
A loan is money that you borrow and promises to pay with interests during a period of specific time. The amount of money that you borrow calls the main one, and the interest is the cost of requesting the given money. The term of time to pay the loan is known like the term.
The loans must obtain only for very great purchases or emergencias. To obtain a great loan or many loans can cause serious economic problems to him, because him it is possible to be made very difficult to make the payments monthly.
The loan, like financial operation, supposes the existence of a financial equivalence between a benefit (the amount of the loan) and a return (the set of capitals that are disbursed for their total return). This equivalence is fulfilled for a type of interest.
The VICTORIES OF LOANS .......................... Volver to the index
The programs of loans have the intention to foment the financing of small businesses in the short term. At the moment, the victories of loans are based on the payment capacity.
The COST OF the LOAN .......................... Volver to the index
The cost of a loan is determined by the type of interest and the term of time that will take to pay it him. Besides the interest, a moneylender can acquire other tariffs to ask for the loan or to verify his credit. These tariffs are called the points.
TYPES OF LOANS TO BUSINESSES .......................... Volver to the index
The conditions of loans vary of moneylender to moneylender; but two types of basic loans exist: in the short term and in the long term.
Generally, a short-term loan has a victory from three months to a year, these include: loans of work capital, accounts to pay and lines of credit.
The long-term loans have terms of more of a year up to seven years. The loans of real estate and machinery have a victory of up to twenty-five years. The long-term loans are used for the important expenses of the business such as the purchase of real estate, construction, durable equipment, furniture and accessories, vehicles, etc.
LIKE WRITING UP a REQUEST OF LOAN .................. Volver to the index
The approval of its request depends not only on how it has based his financial needs, but also of the image that present/display of same you and of its business. It remembers, the moneylenders want to grant loans, but they will approve those in which have major security of which they will be paid. The best way to improve the possibilities of obtaining a loan is making sure that it goes to be able to give back the money in the agreed dates.
A good request of loans will have to contain the following main elements:
Description of the business.
Description of the business, the history and the type of business details of the business, such as its antiquity, turn of the company, number of employees and the present assets of the business.
The structure of the business the type of society and the details of the legal structure of the company.
Information of Market:
It defines clearly products of his company, as well as its markets.
Financial declarations - financial statements and the monthly income averages.
Financial declarations of personal character of you and the other owners of the business.
Collateral (endorsement) that you would be prepared to put in guarantee of the payment of the loan
AS the REQUEST OF ITS LOAN .......................... Volver to the index IS REVIEWED
When reviewing the loan request, the main preoccupation of the moneylender will be the capacity of payment of the same. In order to help in that decision many moneylenders their payments will ask for to an agency of credit reports a copy of their file of credit to determine their behavior when doing.
When using the file of credit and the information that you have provided, the moneylender will take into account the following considerations:
· Account with a solid history of reflected credit in its report of credit, its history of work and its letters of recommendation? This is very important.
· It has the experience and preparation necessary to handle his business successfully?
· Is preparation a request of loan and plan of businesses that demonstrate to their understanding and commitment with the success of the business?
· Has the business the liquidity of cash sufficient to make the weekly, biweekly or monthly payments of the asked for loan?
HANDLING OF the RESOURCES .......................... Volver to the index
The ability of the individuals to handle the resources of the business, some times referred as “good reputation” is a consideration main to determine if it will be granted or not the loan. The capacity to administer is an important factor that it has to do with the education, the experience and the motivation. The positive ability to handle resources also is considered.
The mathematical calculations in the projection of the financial statements are indicators that provide information of how the resources in the past have been handled. It is important to include/understand that a single indicator does not provide all the information, but several indicators with others are used altogether can provide a general vision in the administration with the business. Some indicators that all the moneylenders review are: amount of the debit, capital of work, the indicator in which the entrance is received after being won, the rapidity with what the debt is later paid to be won, and the speed with which the products or services of the business to the consumer move.
Characters to consider the hour to request a loan:
Good Reputation [Character]: The degree in which the borrower feels a moral obligation to pay his debts. One is moderate by the antecedents of credit and the payments that have done.
Capacity of Payment [Capacity to pay]: A subjective determination that the moneylender does being based on an analysis of credit report and other information of the applicant of the loan.
Capital capital : The total value of a business in financial terms. One calculates reducing the total liabilities of the total assets. The moneylenders prefer few debts (liabilities) to few assets, which indicates financial stability.
Collateral or Endorsement [Collateral]: Assets that are property of the borrower, but that promises the moneylender if the loan does not pay. The guaranteed amount varies of a moneylender to the other. The more the value of the collateral approaches the amount of the loan, the more surely will feel the moneylender of which the loan will be pleased to him.
Conditions [Conditions]: Economic generals, geographic and industrial.
Confidence [Confidence]: A successful borrower inspires confidence in the moneylender when satisfying all the restlessness with respect to the good reputation, the capacity of payment, the capital, the collateral and the economic conditions. Its request of loan passes on the message of which the company is professional, that has good reputation, good antecedents of credit and that it has reasonable financial statements.
The loans always cost money .......................... Volver to the index
Asking given money is a common part of the life. The cost of the money loan is made up of interests, tariffs and positions. Sometimes, a loan with a higher interest rate can be more cheap than a loan to a lower interest rate, by the difference in tariffs and positions that could exist.
Many types of loans exist: as examples we can mention the personal loans, loans of house, loans by day of payment, free loans of interest, lines of credit, overdrafts and credit cards. The cost of the loan varies much, according to:
_ the type of loan,
_ the type of moneylender (bank, cooperative of credit, financial company, store)
_ the term during which will give back you it, and
_ a loan with guarantee will generally be cheaper than a loan nonguaranteed or to single company/signature
Infórmese and asks the moneylenders which will be the total cost of the loan.
Interest (Interest) is the additional money that will have to give back to him to the moneylender besides the money that has received in loan.
Interest rate (Interest rate) the amount of interest that you pay expresses generally like rate.
Fixed interest (Fixed interest) a defined interest rate, that it will not change during the term of the loan.
Variable interest (Variable interest) the moneylender will be able to change to the interest rate on the loan or the credit card: it will be able to raise or to lower. It is not possible
to do a calculation advanced of the total amount that will pay by a variable loan of interest.
Tariffs and positions (Fees and charges) Are possible that these sums besides the interest must pay, for example: it quarrels by establishment of the loan, quarrels
monthly by the maintenance of the account and positions by slow payments (in blackberry).
Loan with guarantee (Secured loan) the moneylender has removed a mortgage on property (p.ej a car or a house). If you could not give back the loan, the moneylender will be able to clear the car or the house to him and to sell them without doing judgment to him to you.
Loan without guarantee or to single company/signature (Unsecured loan) is no mortgage on property some. The moneylender cannot clear to him and sell his property
if you do not pay a loan without guarantee, less than to do judgment to him first.
The contract of loan .......................... Volver to the index
When a person takes given money, she generally signs a contract that defines all rights and obligations with respect to the loan or credit card. Sometimes the terms of the contract appear under separated pamphlet form. The laws stipulate that the majority of loan contracts must contain certain information exceeds how much it is taking in loan, the interest rate, the other positions and tariffs and, in many cases, the total amount that it will have
to give back. It reads the contract before signing it; the contracts usually are difficult to read, therefore it llévese the contract and it obtains advising if there is something does not understand.