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The conditions for receiving money from a bank to open its business from scratch imply that many factors are observed.
These include the following:
- the recipient has a well-developed business plan;
- the positive credit history of the beneficiary;
- the absence of the loan recipient unliquidated obligations to banks;
- the deposit by the recipient of the loan is collateral, the amount of which is commensurate with the amount of the loan received;
- presentation by the recipient of the loan official certificate of the amount of his income.
With a large loan amount, its receipt is significantly stretched in time. Under the terms of the loan, it is rather difficult for people of retirement age to receive it, since banks impose restrictions on the age of the beneficiary.
How to get a loan to start a small business?
You can get the amount of money to open your business in almost every bank. However, there are certain restrictions concerning borrower.
For any bank, it is important to confirm its solvency and the stability of its financial situation.
In order to receive a sum of money for opening a business, an entrepreneur should submit an application to the bank chosen by him.
Her consideration takes some time. When a bank makes a decision in favor of a client about lending, the recipient of the loan should personally come to the bank branch to agree on the formalities. As a rule, the entire loan processing procedure takes no more than a week.
To date, obtaining a loan for business development is associated with the need to provide collateral or a guarantee for it.
Banks are very hard to issue loans without collateral, and this is possible only with a large interest on the loan.
In this case, the recipient of funds is forced to make a significant overpayment on the loan. For this reason, start-up entrepreneurs prefer to deposit their own property in the form of a pledge, rather than pay large sums of money in repayment of the debt to the bank.
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To get a loan, the beneficiary should personally appear in the bank branch. He should have all the package of documents necessary for conducting a transaction.
In addition, the borrower is obliged to submit an application for receipt of funds in the form prescribed by the bank. In the bulk of the cases considered, the borrower must provide loan guarantors or collateral.
After consideration by the bank of the application for receiving funds, a decision is made, which the applicant is informed by phone.
If it turns out to be positive, he should come to the bank to sign an agreement and receive funds. Also, during a personal visit, the collateral is recorded by the recipient of the loan.
Another form of a loan is applying online. Make it real on the official website of the bank online.
When applying, the recipient of funds is obliged to provide the bank employees with maximum information about themselves and their business.
This is necessary for bank employees to make a decision on the application. When they make a positive decision about granting a loan, this is reported to the applicant by telephone.
In this case, he should personally appear in the branch of the chosen bank to complete the transaction, sign the loan agreement and receive funds.
Requirements for borrowers
Banks impose the following set of requirements for recipients when they issue loans for starting a business:
- The borrower must have Russian citizenship.
- The applicant for a loan must have a positive credit history.
- Mandatory customer submission of an application for a loan.
- The loan recipient is obliged to submit to the bank a maximum of information about himself and his business.
- The borrower should submit to the bank materials confirming the fact of his solvency.
- The borrower must be the guarantors of the loan.
- The borrower must have the opportunity to place the property as collateral for the loan.
- The borrower must submit an application for receipt of funds in the form prescribed by the bank.
To receive a cash loan to organize your business, the borrower should submit the following documents to the bank:
- Application for credit.
- Passport with a residence permit, confirming the fact of Russian citizenship.
- The code of individual registration of the client in the tax control authorities.
- An extensive business plan for the development of the business.
- Passports of loan guarantors, if any.
- Evidence that the borrower has a positive credit history with other banks.
- Help, confirming the fact of employment of the borrower and his solvency.
The amount of interest on loans issued depends on the amount of the loan, its terms, and other conditions of the loan agreement.
The average amount of interest rates ranges from 13.5 to 15% per annum in rubles.
If there is no mortgage loan, the interest may increase and in this case amount to 18% per annum in rubles.
Maximum and minimum amounts
The amount of the loan issued is determined individually by each bank. Its value depends on the terms of the loan agreement.
On average, the number of loans issued by banks is in the range from 50,000 to 15,000,000 rubles.
The terms for issuing loans are set by banks individually in each case considered.
On average, cash loans for opening a private business are issued by banks for a period of six months to 15 years.
The procedure for repayment of loans for opening a private enterprise is determined by the loan agreement.
Ways to deposit funds may be as follows:
- making cash payments to the cash desk of the bank selected by the client;
- transfer of non-cash funds from the settlement account of the crediting organization;
- depositing money in an ATM of a lending bank or any other bank;
- transfer of funds via the Internet online.
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Pros and cons
Lending to a private business at its opening has both advantages and disadvantages.
The advantages of such loans include:
- The ability to quickly obtain working capital opening enterprise.
- Simplicity and speed of receipt of funds.
- A wide variety of ways to eliminate the loan debt.
- The possibility of individual discussion with the employees of the bank loan repayment options.
- The availability of such loans.
- The possibility of early payment of debt in some cases.
Among the disadvantages of such loans should be noted:
- The need for collateral or attracting guarantors for the loan.
- The obligation to have a positive credit history to receive funds.
- High-interest rates of the bank in the absence of guarantors or collateral in some cases.
- The need for regular payment of money to eliminate debt.
- The obligation to submit to the bank a detailed business plan for organizing your own business.
- If it is impossible to repay the loan, the borrower will have to pay off his own property with the bank.