What is worth knowing about non-bank mortgage loans for companies and EU loans. It is more difficult for merchants to obtain business loans than for individuals applying for consumer loans. Non-bank companies have a smaller offer for entrepreneurs because they are a smaller market.
When setting up a sole proprietorship, a bank account is set up where you can get a debit card and use it when you run out of funds. However, it often happens that a bank needs a year of operation to issue a card. If they do not meet this condition, there are still non-bank financial companies that provide loans to companies.
What is worth knowing about loans for companies granted by non-bank companies?
When looking for the best options for your business, you may come across lenders that offer installment loans, and all payday loans must be repaid within 30 days. And the most risky secured loans, the receipt of which involves collateral, but have the lowest interest rate. An important issue for all entrepreneurs is the cost of loans for companies
In the case of a sole proprietorship, the debt looks the same as in the case of a consumer loan. Own business is a better leverage in the case of bank debt, it gives more chances, i.e. better conditions and credit cards. However, as you know, you need to be financially mobile and meet other criteria.
Are entrepreneurs willing to lend money to non-bank companies?
Every business owner who is in financial trouble and desperately needs capital knows that non-bank business loans can get him out of trouble. Not only can he pay off his debts and avoid the visits of bailiffs, but also invest in the development of the company and expand the scope of its activities. There are several types of company loans that give entrepreneurs the opportunity to choose the best offer that is easy to repay.
Examples of mortgage loans for companies by non-bank institutions
One of the forms of a company loan is a mortgage loan, which is the most advantageous for many entrepreneurs. Thanks to incurring such debt, business owners can develop their business. One of the offers is a short-term mortgage for a period of 3 to 36 months. Its granting is associated with the lowest acquisition costs, flexible repayment options and no additional commissions and fees.
What do entrepreneurs do with these business loans? Most often, they invest in the development of the company, and while waiting for a bank loan, they also use it as bridge financing. Above all, however, it is about regaining financial liquidity, and the loan is a large cash injection. Some entrepreneurs focused on a profitable investment treat taking a loan for a company as obtaining quick financing.
Types of Mortgage Loans for Companies – Non-bank Institutions
Loans for companies, for a period of one year, with the possibility of extension, with a guarantee of no additional commissions and fees in the event of early repayment.
The commission that the entrepreneur must pay is 14% per annum, and the security is a mortgage on the property that is not used for residential purposes. When deciding on this type of debt, the process is quick and there is no transfer of title.
Mortgages for companies, for a period of 3 to 12 months, with payment terms tailored to the needs of a specific company. The commission for the distribution of loans is 6% of the loan for 3 months. It also grants corporate mortgage loans for periods from 12 to 36 months, with an interest rate of 8% per annum and repayment of principal and interest in installments.
These are just examples of company loans and details should be obtained from a specific non-bank institution.
EU business loans
Entrepreneurs can receive EU loans from PLN 10,000 to PLN 50,000 and loans from PLN 10,001 to PLN 500,000. Thanks to this form of debt, business owners can allocate funds to equip: a law office, a restaurant, a car repair shop. This loan may constitute funds for the renovation of monuments.
The cost of this type of debt usually depends on the duration of the business and the amount the entrepreneur wants to borrow. The important information is that the loan does not have to be insured, sometimes it is necessary to establish a guarantee for it.
When applying for an EU loan, you do not need to have a registered business. In the event of suspension of activity, it must be resumed before signing the contract. The entrepreneur must be aware that after settling with the Tax Office and ZUS, he cannot apply for an EU loan.
Loan applications will be processed within 60 business days from the date of application. Offers from non-bank institutions are still available if the entrepreneur does not qualify or cannot wait for a two-month loan.