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You feel proud of what you have achieved with your business, so every time you are in search of new strategies that allow you to grow. In these cases, a business loan appears as the best option to optimize and expand operations. Financing is also used by companies to refinance liabilities with suppliers and other financial institutions.

The market offers various alternatives so that you can access financial resources. However, not all instruments are suitable for any type of client. For this reason, you should analyze each option and choose the one that best suits your business and personal profile. Do you know what you need to access a business credit? Here we explain step by step what you must do to request a loan for your SME.

 

We tell you everything you need to be able to process a microenterprise credit

We tell you everything you need to be able to process a microenterprise credit

Requirements

The requirements are the documentation that the bank will require in order to know your profile more fully and see if you are a candidate to grant yourself the credit. The requirements that banks ask to apply for financing vary according to the loan program of each financial institution. However, many of the collections are similar.

Among the documents you need to present to the bank agency are:

– Summarizes

This document summarizes your management as an entrepreneur and supports the experience you have at a commercial level.

– Personal history

It covers information on current and previous address, educational background and criminal record.

– Business plan

It should include projected financial statements, cash flow, and a balance sheet.

– Tax returns

You will need to file a personal and business tax return for the past three years.

– Bank financial statement

Balance of the last year of your personal and commercial bank accounts.

– Credit report

You should record a report that supports your credit history, so the banking agency will verify whether or not you are a good payer.

– Collateral

The loans linked with default risk are the ones that will require the most guarantees. Prepare the document that describes the value of the business to guarantee financing.

What is the Commercial Evaluation?

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The financial institution needs to assess if you are eligible to grant the loan, if you have the ability to pay and what is the status of your credit history. In this way, the bank protects the capital it lends, ensuring whether or not the client will have the necessary solvency to return the resources.

For this, the financial institution makes a commercial evaluation that will consist of all the pertinent information to your credit history, liquid income, level of debts and any other data that the bank requires.

We tell you everything you need to be able to process a microenterprise credit

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The Good Lender financial market offers a range of alternatives with diverse characteristics and aimed at supporting business operations. How do I know which option I should choose? Business credit should help you meet your financial and personal goals. In addition, the loan must respond to characteristics such as immediacy, responsibility and good customer service.

At Capitalcoop we are specialists in banking services for Good Lender families who do not yet have a history in commercial banking. We grant commercial, consumer, investment products, insurance and factoring credits. We have more than 60 years of experience in the microfinance market, so we can advise you on the option that best suits the needs of your business. At Capitalcoop you have comfortable payment terms. Up to 60 months to pay in equal installments, monthly and in weights. Also, you have 120 days to pay the first installment.

Closing

Traditional banking offers countless options so that you can access credit that finances the needs of your business. However, the processes sometimes generate multiple delays and in other cases after the evaluation, the granting of the loan is denied. At Capitalcoop we know that your time is valuable and that your business needs fast and efficient management so that the company’s operations run smoothly.

That is why, we strive to offer you answers in the shortest possible time. Our credits are designed to provide you with the financial support you need to reduce expenses and maintain a cash flow according to your activity. Do you want to expand, remodel, buy merchandise or renew machinery? Come to any of our branches and our team will help you with what you need to grow your business.