To start a business or to boost an existing business, it is sometimes necessary to contract a professional credit. Unlock funds to get started, make up for late payments, invest in equipment or in a new location …
Whatever the reasons for the demand for professional credit, there are solutions to meet the one-time cash needs of businesses. An online credit application from CreditUs Loan is a quick and easy way to find out more.
What are the different types of professional credit?
Several credits are available to deal with unforeseen expenses. We will not speak here of the payment facilities that are overdraft authorized, the cash facilities or even the revolving credit and the discount. It is not really about professional credit as such can be:
- – credit over 3 years maximum;
- – credit between 3 and 7 years;
- – credit between 7 and 15 years old.
How much does a professional credit cost?
This will depend on the Global Effective Rate or TEG which is the rate representing the total cost of the loan: interest on the loan, loan insurance, guarantee costs and handling fees. The advertised rate is generally the rate calculated over a full year. This is the main element to compare loan proposals!
What is needed to obtain a professional credit?
To obtain a professional credit, you must provide guarantees to the lender. We will distinguish between personal guarantees and real guarantees. Personal guarantees are all the sureties that can be provided by a third party. Real collateral, on the other hand, refers to all movable property that can be pledged or real estate that can be mortgaged.
Professional credit is never guaranteed, as business loans are more risky than personal loans. CreditUs Loan has set up alternative solutions, as the first Internet platform for personal loans in Europe with its own credit institution approval.