Capital is important to start developing a business. However, many interesting projects have remained on paper only because entrepreneurs are afraid of financing via credit or do not know how to get it.Credit or Loan for startups is a lever for organizational development. Bearing in mind that the first years of every company are complicated, what is often missing is money.
In this sense, it is important to find an adequate credit to the payment capacity of your company, with interest rates that are not very high.
Here are some tips:Advantages of the credit
To obtain financing, you do not have to sell your assets (house, car). You do not need to put all your capital in your new business and turn your idea into a risky project. The credit will allow you to separate accounts – your money and the money of the company.With a credit you can expand your earnings. If you work with money order that returns you will be able to pay monthly fees and give you a balance that corresponds to your earnings.
If you pay the installments on time, you get recognition as a “good payer” in financial institutions. In this way, the next time you apply for a loan it will be easier and perhaps for a larger amount.The financial system has several types of institutions, among which are banks, municipal and rural banks, the Development Entity for Small and Micro Enterprises, financial institutions and others. There are also NGOs that offer loans, as well as cooperatives.
Plan your credit
You must take into account the following. Before asking for a credit you must inform yourself. You should investigate which institutions could offer you a loan, what requirements they ask, what types exist in the market, what are their interest rates, what is their real cost, among others.Once you have found the credit that is best for you, you should have all the documents of your company at hand and others that demonstrate the financial situation of your company.
Types of financing
In the Peruvian financial market there are different types of financing for small and medium enterprises. The main ones are,
Micro credits: Small amounts of money are granted, easy to return.
Working capital loans: It is a line of credit for companies that seek to satisfy short-term liquidity needs.
The micro leasing: The financing of 100% of the work teams of a company is achieved.
Seed capital: It is the delivery of a loan to start a business or company. They exist in the market but are for low amounts and are aimed at people with a credit or business history.
Real cost
When you ask for a loan at a financial institution, ask for information about the “cost of real credit “, which is called “the annual effective cost rate”. This concept includes cost overruns such as – tax insurance, account management, credit disbursement, among others. Plan the future and make a projection of the budget of your company, which includes the payment of fees.
