How to finance my project? The credit for entrepreneurs and without endorsement, is a subject, a great subject. Well, usually the entrepreneur, especially if you start on it, fears it and believe little less than impossible to get the required financing.
If we only try with the banks, the demands may be greater every day but there are other credit alternatives and investors that can solve the situation and for this we must know them. We will give some examples and most importantly, the ideas will be accompanied with testimonies, knowledge and experiences of entrepreneurs who have already passed through this stage and whose experiences can avoid you a few stumbling blocks.
Loans for entrepreneurs without collateral in Chile
What should be considered when seeking financing? We must forget that the only option is to apply for a loan for entrepreneurs that is initial and less without guarantee, in the banking field. Different alternatives will be announced, so that each one can assess what is most convenient for their enterprise, and circumstance.
Financing costs can vary significantly between one alternative and another. Different factors should be considered:
- required financing term,
- amortization flows,
- markets that you can access,
- level of credit risk of the company,
- existence of specific financing programs for the sector in which it participates, etc.
Credits through banks and financial institutions
A credit is a financial operation in which a financial entity grants a person or organization, an amount of money previously defined and specified in a contract, for a certain period of time.
The amount can be used without restrictions by the entrepreneur and it is he who manages the money, both his withdrawal and his return. It has the advantage of providing the entrepreneur with the possibility of disposing of the money as he wishes, unlike public funds, which require a clear specification of expenses and that allow a limited amount of modifications.
- Negative: procedures and waiting periods
- Positive: immediate delivery of money
- Negative: the money must be returned, it is and interest is applied.
- Positive: only interest is paid on the capital used, the rest of the money is available to the applicant, who does not have to pay interest for it, unless he uses it, so it is possible to use it to the necessary extent. .
Useful data on bank loans for entrepreneurs
- The result of a Survey of Interest Rates is published weekly on the SBIF website, reported on the banks’ whiteboards. In addition there are periodic consultations on the rates of the different products and services offered by the banks
- Bancafacil also has a Consumer Credit Simulator, which allows you to determine the best offer.
Loans for entrepreneurs without endorsement or endorsement, it is generally a variable issue, as it will depend on the situation of each person and the risk of entrepreneurship., So you have to check the individual possibilities in banks.
How do I get a guarantee?
If a guarantee is required, it is possible for the entrepreneur to go to the SGR, Mutual Guarantee Societies. They are organizations that help companies get financing by taking the credit risk of the company against the bank. According to date from the Wise Industrial Bank they make up more than 30% of the loans, “context in which it is necessary the emergence of new tools that boost the sector and promote entrepreneurship,” explains Polly Puxi, Commercial Executive of Proline .
Loans for entrepreneurs without collateral in Chile: Testimonials
We provide words and examples of successful entrepreneurs who can be very helpful and encouraging to new entrepreneurs.
In textual words of entrepreneurs who started by starting through some of these mentioned platforms and that demonstrate that it is possible to achieve it, with effort, perseverance and looking for what is most relevant to their situation and line of work.