Alternatives to Online Business Loan Platforms

The lending platforms for small and medium-sized companies are beginning to appear on the Brazilian Internet as alternatives to solve the difficulty of obtaining credit in traditional banks and financial institutions. These platforms on their sites offer interest rates lower than the market average and also differentiated financing conditions for companies that need to contribute.

Online loans have helped both individuals (personal loan), even those who are negative ( loan to negative or restricted ), and now they come up with loans for small and medium-sized P2P and peer to peer lending better known as loan collective or collaborative.

The scenario of taking credit for companies in Brazil is not very friendly, just to have an idea, only about 30% of Brazilian companies that borrow or borrow from private banks can get the credit. With such a small approval rating, we can understand why financial hardship is one of the problems that most kill businesses in the country. The lack of credit poses a giant obstacle in the development of new products, services and innovative projects. In addition, it prematurely eliminates the generation of new jobs.

Enterprise lending platforms

Enterprise lending platforms

Those who are following the financial market must have realized that in the last two years dozens of fintechs have emerged that have chosen mainly the online loans segment, they offer with their technological and innovative platforms what banks neglected for years, which is the agility in obtaining credit and financial services.
Online lending platforms are not financial, they are usually companies that represent banks and credit institutions, a resolution formatted by the Central Bank of Brazil allows fintechs to be business intermediaries acting as bank correspondents.

They are startups who work by lending money from others through pre-established partnerships and covenants. With the support of financial institutions, fintechs formalize the business between credit contractors, investors and banks take care of the onlending of borrowed money.

If you are looking for small to medium sized business loans, we have listed some online P2P lending platforms that provide credit through simple tools that help indebted and enterprising borrowers with reduced or near zero bureaucracy. They tend to offer lower interest rates than the traditional market:

Piracredit loans for companies

Piracredit loans for companies

The Piracredit intermediates loans for companies that are funded by people and for those who wish to make more profitable investments the platform serves both. Borrow and borrow. For those who do not know, when it comes to collective bargaining (peer-to-peer lending) for small businesses (SMEs) Piracredit thought.

The collective loan, or peer-to-peer lending, allows ordinary people to invest their money directly in projects at Piracredit without the intermediation of a financial institution.

By having this facility, the loan contractor obtains very advantageous interest rates that in banks and the one to whom he is an investor, has the chance to obtain a better profitability. For entrepreneurs, loans for companies start at R $ 3 thousand and up to R $ 500 thousand, the terms vary between 6, 12, 18 and 24 months. Rates range from 1.7% to 6.3% per month. For investors, the platform promises average returns is 22% a year.

Pascuas – Lending platforms

 

If you own a small or medium business, Pascuas wants to lend money to your company and promises to be the simplest, quickest and most just way to get a business loan. Pascuas is also an online platform that connects companies that need loans with Investors. No bureaucracy and abusive fees. The process is simplified to be fast, efficient and fair.

Pascuas operates in the form of peer-to-peer lending, it intermediates credit operations between small and medium-sized companies with potential investors (individuals). Pascuas offers financing with rates ranging from 1.6% to 2.25% per month for active companies that have revenues starting at R $ 250 thousand.

Donkey Exchange

Discount of receivables, to make more efficient and with lower rates in this type of operation, this is the function of Donkey Exchange. With a more uncomplicated rebate process, ME says that everyone benefits. It acts with suppliers of large corporations and is now broadening its reach to the SME loan market. In practice, the supplier delivers its product or service to a particular company, which registers invoices with their respective maturities on the platform.

“Simplifying the receivables discount so you have more time to focus on your business” is the Donkey Exchange slogan. 

F (x)

F (x)

Achieve “affordable credit like you’ve never seen” and so promises F (x) an online platform that connects entrepreneurs looking for loans at banks and funds willing to lend to businesses.

This startup works with intelligent algorithms that try to identify companies and financial institutions with similar goals and willing to close deals. But the platform is not for small companies, to participate in the process, F (x) only accepts companies that have a turnover of more than R $ 10 million per year. For those who need working capital or money for the purchase of real estate etc. the F (x) may be a solution. 

Omnicredit

Omnicredit

Omnicredit is an online personal loan company that provides and provides cash credit with the application of interest to web users who are restrained and financially difficult. Serves exclusively people want to make loan to negatives and do not evaluate the CPF with consultations in SPC and Serasa. Omnicredit offer online loan 24 hours a day, 7 days a week without red tape and for the whole of Brazil. You can get loans from $ 500 to $ 3,500

Spesa

Spesa

Spesa is a financial institution that grants personal loans even to people who are not. Its target public are civil servants, retirees or pensioners, salaried and self-employed who prove income.

The process of applying for credit can be done in physical stores and also by Spesa Digital 24 hours a day. Spesa’s interest rates are around 19.37% per month with installments that can be requested up to 12 fixed and equal installments. If you really need money, it is expensive but it can help in an emergency.

It is worth mentioning that online business loan platforms will dictate the rules as well as digital accounts and non-annuity cards.

Loan 2500 Euros

Truloan belongs to what is called “online banking” that has automated your system to be able to get loans of up to 2,500 euros in just 10 minutes .

It is one of the entities that is part of the financial group 4finance , a financial group to which the Vivus credits also belong, having its registered office in Madrid (Spain). It was founded in 2008 and throughout its history it has financed more than 10 million of clients , which is a guarantee of their solvency and seriousness.

The amount of money they provide is between 300 and 2,500 euros but if this is the first time you apply for a loan, you can only ask for a maximum of 800 euros, this limit will go up in successive applications because it will increase the credit confidence of Truloan. it’s towards you

Loan requirements of 2500 euros from Truloan

Loan requirements of 2500 euros from Truloan

To get a credit from Truloan.es you have to meet the same requirements as the other companies:

  1. Be of legal age (between 25 and 70 years old)
  2. Reside in Spain legally
  3. Your DNI must not be expired
  4. Provide a mobile number
  5. A bank account number that you own (to receive the money)
  6. Possibility of returning the money

Tip : Sometimes they ask for vouchers, so I recommend having the DNI scanned or digitized, the first page of your bank card and even your payroll, pension, etc. (in case they ask you)

Application process

Application process

You access your online loan calculator here

You indicate the amount of money you want and the amount you want to return each month

I like it : The system automatically shows you the following:

  • The amount you have requested
  • The number of months to return it
  • THE total amount you will return
  • The amount of money you will pay each month

Other loans, although of a smaller amount that the economists also recommend, are the credits and the Creditomovil loans.

How to pay Truloan credits

How to pay Truloan credits

From the moment you are notified of the granting of the personal loan you are obliged to return the amount and during the time that you have indicated in the online calculator.

It is done through direct debit and the monthly payment will be charged every month. So that you do not get caught the bank account without funds, the platform will send an email or SMS to your mobile to let you know that the next month’s payment is close.

How to postpone the return of the credit of Truloan

How to postpone the return of the credit of www.Truloan.es

One of the advantages offered against other credit companies is that in case of need you can request that you defer the payment of a monthly payment for 30 days.

To get this advantage you have to give yourself 4 premises:

  1. That until that date you have complied with your payments in a timely manner
  2. That just the previous month you have not requested another postponement
  3. Having already paid two months of the total loan
  4. They have to miss more than 20 days for the total credit completion.

How should you do it?

  • You enter your Truloan account (using your email account and your password)
  • You request the postponement and at that moment it will show you the cost that it will entail. If you want to keep putting it off, you confirm
  • You make a transfer for the amount of the economic cost of the deferral to the Truloan account and automatically change the date of return of the monthly payment.

Advantages of Truloan:

  • They do not ask you for a guarantee to grant you the credit
  • Deliver the money within 2 hours (although if your bank and theirs is not the same, the bank transfer can be delayed up to 48 hours)
  • They grant credits of much greater amount than other companies: up to 2,500 euros
  • You can return it in advance
  • You can extend the amount of the loan (if you have not reached the maximum)
  • Return period up to 24 months
  • It allows you to postpone the return of a monthly payment, under certain premises

Long Term Loans – Small Installments & Low Interest Rates

Many loan seekers choose a long-term loan. If you make a credit comparison, you can see how the term affects the installment and the interest rate. The loan rates are getting lower the longer the term is chosen. Although the loan is more expensive overall, it remains affordable for many customers.

Long-term loans – the overview

Long-term loans - the overview

With the term a loan can be paid or not. In our time, there are not many consumers who do not need credit. There is a search for a loan when major purchases are pending. A loan is needed if a new car is to be purchased. Current invoices can no longer be paid. This too is often a reason for a long-term loan.

Of course, banks like to offer the loan with a short term. This reduces the credit default risk over a long term. In the past, lenders have often had the experience that a long duration can often lead to a loan default. With a long-term loan, financial resources are scheduled for many years.

A financial bottleneck quickly arises, which can then no longer be absorbed, since the installments must be paid. The consequence is then a renewed request for credit, which is not fulfilled, because one already has to pay.

Long-term loans – the conditions

Long-term loans - the conditions

To get a long-term loan, credit seekers must meet some of the bank’s requirements. So the loan seeker must be of legal age, but if possible, should not have reached retirement age.

In addition to the sufficient income that must be above the attachment exemption limit, the Private Credit must be clean. The income ideally comes from an indefinite employment contract. This should also contain no probationary period and exist for at least six months. It is just the civil servants’ loans that are granted for a very long time.

At the same time a life insurance is saved. The borrower pays only low installments during the term. But in the end is the high final rate, which then covers the insurance. The normal borrower actually chooses a long term with 10 years. The official, on the other hand, can receive a 20-year loan. In general, however, not every borrower can choose a long term. The creditworthiness must be given.

Long Term Loans – Credit Comparison

Long Term Loans - Credit Comparison

Before a loan is applied for, loan seekers should make a credit comparison. This shows how long a runtime can be chosen. Of course, this depends on the amount of the loan. No lender will award a loan of 5000 euros with a term of 10 years. The credit comparison is easy to use. The loan amount and the desired term are entered.

With one click, customers see the best providers, the installment and the interest rate. Where the interest rate is to say that this is not for all customers in question. Interest rates are often calculated based on credit quality. So if you have a good credit rating, you will also receive a favorable interest rate. The rate can be lowered or raised with the appropriate duration. In addition, other terms such as special repayments and installment breaks can also be viewed.

Long-term loans – bad Private Credit

Long-term loans - bad Private Credit

With a loan with a long term and a bad Private Credit, often no credit comes off. The Private Credit Score should be at least 50, so that banks agree to grant a loan. A bad Private Credit signals to the bank that the credit default risk is increased. Anyone who knows about his burdened Private Credit should get a self-report. This can be seen, whether the entries are rightly in it or whether they are already done long ago. If this is the case, the client should act as it increases his credit rating.

With bad Private Credit there will hardly be a loan with a German bank. Unless the customer has a high income and the entry is lighter in nature, such as a forgotten bill.

Long-term loans – the collateral

Long-term loans - the collateral

If the bank’s income is insufficient, so-called loan collateral may increase credit opportunities. Think of a property or a lenderable insurance. However, the surrender value of the insurance must be correspondingly high. However, a guarantor can also secure the loan.

The guarantor must be solvent and have sufficient income, a clean Private Credit and a permanent position. The bank must inform the guarantor of the risks of a guarantee.

If she does not do that and it comes to an emergency, that the guarantor would have to pay the installments and he can not, the guarantee is immoral. The guarantor can then get out of the guarantee. However, it has to be proven that the bank has not fulfilled its obligation here.

A guarantee is entered into the Private Credit of the guarantor, which can lower its credit rating. In any case, a guarantor must be able to easily pay the installments in case of loan default.

Long-term loans – residual debt insurance

Long-term loans - residual debt insurance

Especially for loans with a long term banks often offer a residual debt insurance. This should occur if the customer becomes unemployed, if he becomes disabled or if he dies. However, this insurance is very expensive. The contributions are added to the loan amount, which suddenly increases the loan amount.

The residual debt insurance is very expensive and not appropriate for all loans. But if the customer wants to opt for a hedge, then he should look for an independent insurer. They are always cheaper than the insurance offered by the bank.

Conclusion:

A long-term loan is often sought. Customers then pay low rates, they have good predictability, especially when the loan is paid for years. Thus, in any case, a credit comparison should be made so that a favorable credit comes about. Customers can go to their house bank for a loan or look for one of the many online banks. These have often better conditions than the house bank anyway.

Real Estate Loan, Mortgage Loans Without BIK

A loan secured against real estate is a loan for everyone and in particular, we address our offer to indebted people. People who have outdated liabilities also have the chance to get a loan from us. Thanks to our loan you are able to pay off all your debts. Thanks to the financing you have, you can pay off the debt collection, debt collector, as well as arrears in the Tax Office and ZUS. We conduct a series of analyzes that allow the client to obtain a loan, thus assessing the needs and financial capabilities of our clients. We do not analyze banking databases such as bik or big. Very often bad credit history is not a reflection of the actual situation of the client. The client’s creditworthiness analysis has other elements thanks to which we are able to determine the financial credibility of the client. Customer income is taken into account, but it is only informative and allows you to adjust the monthly installment of the loan.

A loan against housing and home

A loan against housing and home

The amount of the loan we can give the borrower depends on several aspects:

– value of the property,
– the place where the property is located,
– the purpose of the loan,
– the customer can repay the loan.

Considering the above guidelines, we assume that the real estate loan should not exceed half of the value of the collateral. If the property is located in a small town or the client’s financial capacity is limited, then the ratio of the loan amount to the value of the property (LTV) is reduced, so the client can count on a loan of a lower amount. The condition for granting the loan is the basic documentation. It allows us to analyze the case, prepare preliminary questions to the client and finally proceed smoothly to sign a loan agreement. The detailed scope of the required documents has been described in the “documentation” tab. For the initial assessment we require photos of the real estate and the number of the land and mortgage register. On this basis, the client receives a statement – the loan schedule that we can offer. Further verification of the documentation that the client also has to submit is already only a formal part, but also necessary in the entire loan process.

Private loan against collateral

Private loan against collateral

A pledge loan and its conditions are the same for every real estate: flat, house, plot, commercial or industrial facility. The only part of the loan that has an impact on its costs is the amount of the monthly installment which the customer will declare and what he will pay during the whole period of the loan agreement. According to the law and the policy of our company, the interest rate does not exceed the maximum statutory interest rates and as of today they amount to 10% on an annual basis. Additional costs that are commonly known and apply also to loans granted by banks are a preparation fee or loan commission. Also, our company uses such elements in the loan agreement.

A loan for a farmer

A loan for a farmer

In our offer we also have loans for farmers, where arable land, orchard and meadow are the protections. We are the only company on the Polish market that has decided on this type of loan product for people running farms. Details of the loan for the farmer