Financing for entrepreneurs through consumer credit is an alternative to start a project or grow a business. Like all financial decisions, applying for an entrepreneurial credit requires some considerations to be taken into account.
Although the credits are not strictly thought of in financing for entrepreneurs, they can help your business or venture to take a step towards the great goal you have dreamed of.
How financing for entrepreneurs can be solved with consumer credit
In this article we will see how financing for entrepreneurs can be solved with consumer credit, moving away from the need to resort to the well-known angel investors or patrons of businesses in Chile. In addition to this, loans for entrepreneurs tend to have much lower interest rates than traditional consumer loans.
Financing for entrepreneurs first requires a clear business plan and benefits. Just as we can sell a business or company to a new partner, a potential client or a promising investor, we must also sell the type and business model to the bank when requesting financing for entrepreneurs. Therefore, the first step is to generate the famous business plan, in view of the credit that we will request.
Second, we must have access to certain pre-established resources. Most banks provide between 80% and 85% of financing for entrepreneurs, which implies that between 10% and 15% of financing must come from the pocket of the applicant or the young company itself.
That is why it is recommended to request loans
For entrepreneurs when the project is already generating certain income, however, some banks, compensation banks or cooperatives have loans for initial capital.
Finally, the better and more robust the formal paperwork and tax issues of the company are, the better the time you apply for financing for entrepreneurs. Financial houses and banks, when granting credit, is usually closely watch the results ADOS companies, their balance sheets, and taxes paid. To keep all this up to date we must consult a legal advisor on the matter.
Remember that in Compare you can simulate your consumer credit, and finance your venture in an informed and intelligent way.