Credit for SMEs

SME loans are financial operations through which private, government and banking entities offer monetary support to promote small and medium-sized companies. Such funds are generally used to meet internal or external needs directly related to the performance of the companies. Let’s continue commenting more about what an SME loan is and what it is for.

Credit for SMEs

There is much talk about SME loans, however almost all of this is related to unsubstantiated aspects of the subject. However, there are essential aspects about SME loans that are worth knowing. A credit option oriented to the business sector of this kind can be of enormous help to entrepreneurs, as long as it is managed correctly and if it is suitably adapted to the needs that they have.

You have your company, we have the financing.

Because we want to support you in the growth of your business, we present the different types of financing for your company.

What is equipment financing?

Short Term Financing

Short-term commercial credit is an alternative to finance working capital, renew or increase equipment, with different payment structures according to the flows of your business.

Characteristics of Commercial Credits

Service that allows you:

  • Various payment structures according to the flow of your company.
  • Products with conditions that are adjusted to the needs of each client.

Commercial Credit Conditions

  • Service that adapts to the needs of your company.
  • Terms from 1 to 11 months
  • Fixed Payback or Pagare
  • Structures with a maturity, equal final installments, with fixed capital amortization and payment plan.
  • The periodicity is adjusted to your companies: Daily, Weekly, Biweekly or monthly.

Credit line

A COMPLEMENTARY alternative to the Current Account that allows you to manage and solve your needs and unforeseen events in the short term. You decide when to use the Line of Credit automatically up to the amounts previously approved. Enjoy the advantages of the Credit Line for SMEs.

Characteristics of the Credit Line

Service that allows you:

  • Manage and solve your short-term needs.
  • Flexibility for your company
  • Check your balances and pay via Internet.

When is a credit convenient?:

  • When you are trying to get “big” goods (a house, a car, appliances, etc.) while you are paying for it. A desired asset is advanced, deferring its payment (as long as the payment can be met).
  • When unforeseen events occur: emergencies, family crises, unexpected illnesses, unique opportunities or offers, etc .; at times when you don’t have the necessary cash.
  • To manage all income using an expense record. Many times people prefer to consolidate (unify) their debt, in order to have a single credit, and thus better organize payments. This is recommended, provided that the total of the accounts can be met, every month that corresponds.

When is a credit not convenient?

  • When credit causes that, due to the ease and convenience of use, you spend more than your borrowing capacity allows.
  • When the payment of the credit absorbs the income necessary for the payment of other more essential expenses.
  • When you fall into temptation or the need to «live on credit», requesting one to pay another, repeatedly.

Pay on date:

In most types of credit, you accept a certain program or payment plan that expresses the amounts and the dates that correspond monthly. In case of non-payment or delay, you will have to pay a penalty and / or a late payment charge. The penalty is a penalty or sanction, and the default is a rate that attempts to compensate the damage generated to the creditor due to the debtor’s failure to deliver the money on the agreed date. This situation makes the loan more expensive, and is not desirable.

If you have problems paying, you may have requested a loan whose installment is higher than your budget allows you to pay. Ignoring the problem will only make things worse for you. If you detect that you have difficulties with the fulfillment of the commitment, be proactive, contact the institution with which you signed the initial agreement, look for mechanisms and alternatives that adapt to your new reality or payment capacity, so as not to let the problem grow and hence the fines and surcharges. It is important to show willingness to pay.

Keep access to credit

Whether for a person, a family, a company or a country, it is essential to «Maintain access to credit.»

You can maintain access to credit if you are a trustworthy person (worthy of credit). A person who has demonstrated his willingness to comply with her obligations, returning the borrowed money as agreed, is worthy of credit.

It is essential to build a credit history to access the best conditions: higher amounts, longer terms, other forms of financing, more products (mortgages, pledges, etc.), more companies that provide financing and credits, international cards, and including mortgage loans, etc.

Requirements for this service:

Last three account statements

Complete credit application

Driver's license

Void check from business account