Posts Tagged ‘loan’
Financing a business with a bank loan
In some ways, borrowing from a bank may be easier since it does not have a personal relationship with them as you have with a friend or relative. If you fail, I cut the loan instead of desheredarte.
However, a bank can also be the most unpleasant entity who borrow because you are going to demand real projections require you give up. If you do not meet your expectations, can take off the loan when you need it most.
The good thing when you ask a bank loan is going to require you to do your homework. You show that you have plans that make sense for the banker. If they approve your loan, you know what your plans are at least reasonable.
Bank loans are not easy or cheap. You’ll be paying an interest rate and you have to put collateral. If your business does not have equipment or accounts receivable, may ask you to put your home or other personal property to guarantee the loan.
How to submit loan
When applying for a loan, in addition to having to compare a lot and having to search and search until you find the best bank to suit our needs, because we, of course, one of the factors you take into account the fees.
The commissions are fees or percentages will be paid by the bank for a range of services. Sometimes we who have to pay the money even though we do not grant the loan (for an analysis, rustling papers, etc.)..
It’s good to know what types of fees we can find so here we leave the most known and used with:
Study Group. It gives a commission to manage and analyze data and reports provided by the person to see if the bank or not to grant the loan. The commission may require the bank to pay the commission unless a situation is that the bank had to pay to other companies or others to complete the report.
Arrangement fee. This committee is in charge the customer for the corresponding procedures to formalize and availability of funds. These costs are usually discounted because once you get the loan.
Commission modified or changed conditions of security. This committee is clear in its purpose, be paid if conditions change or guarantees that originated the loan. He who pays the client (as usual).
Early termination fee. It is a percentage to be paid on the amount to be repaid in advance or prepaid amounts. That is, if you want to terminate the loan before the date you must know that they’ll also charge for it. Read the rest of this entry »
Late payment credit
According to the Bank of Spain, late payment of credit extended by banks, savings banks, cooperatives and credit institutions increased in November to 5.68%, reaching its highest level since January 1996.
Thus the credit delinquency is on the 104.781 million euros, where the highest number of defaults recorded as financial institutions, which stood at 10.30%.
For their part, banks reported a 5.81% default rate, exceeding for the second consecutive month the savings banks, in which case the defaults came to 5.53%, while credit unions under the default level ranking at 4.43%.
In the case of banks, the NPL ratio remained almost unchanged for the month of October, after spending of 5.80 to 5.81% for a loan portfolio of 830 613 000.
Also, savings were increased its loan portfolio as well as the level of delinquency for. Its loan portfolio to 855,577,000, and the volume of up to 47,327,000 doubtful, from 5.49% in October to 5.53%.
By contrast, credit unions decreased the level of delinquencies to 4.43% from 4.45% in October, and that while its loan portfolio grew to 97 190 million, the volume of bad loans fell to 4,310 million from 4,320 million.
Finally, late payment of credit institutions rose again at around 10.3%, for a portfolio of 41.151 million euros of which 4.238 million were questionable. Read the rest of this entry »