Fri. Jul 30th, 2021

Financial Planner

Tips, tricks and guidline for financial planner

The sins of SME when applying for obtaining credit


It is inevitable that you think about financing to expand a business. Improve operating conditions when revenues are still nourishing the initial investment as in most micro small and medium enterprises. What should you keep in mind when applying for a loan? What does the business bank evaluate? A more optimal way to request a credit is to be documented by the different channels of communication of the bank on the offers of credits.


What defines whether or not there is capacity to pay a financial obligation is its flow. It removes from subtracting income from business expenses. Thus we know if it is enough to cover obligations that have more than the ones you are requesting.

Does body language matter?

Yes, a good attitude is reflected even in the countenance of the face a casual and natural expression connotes confidence makes a conversation empathetic and complicated issues flow with greater opportunity to a good outcome. When explaining the situation of the business to apply for the credit you must be sincere and clear without straining the conversation with a rigid attitude that makes it difficult for the bank adviser to understand the request.

Increasing or decreasing real figures on the loan application may help to put a few more zeros on the loan. A mistake leads to a breakdown and destabilizes the financial health of the business. This is a very risky action.  Many times in the requests tends to show a situation above the one that has. The current business situation and the need for investment should be made as transparent as possible. As long as it is transparent, the adviser can better orientate.

After obtaining financing, care must be taken not to commit harmful errors in both the economic stability of the business and the personal credit record. If requested for the business must be invested in the budgeted, because the ability to pay has been studied and has taken into account what that investment will generate.

If you do not invest in the business, it will not improve your ability to pay or your income. But it will increase your financial burden. There are many who fail because they ask for the business but they go to Europe or remodel the house.

Wait until the last day to pay the quota you have to be forecasters. It is healthy to divide the quota in the number of days or weeks to set aside what is appropriate cover the payment. It is ideal to complete the total of the quota before the date assigned for the payment because if you do not have the day that corresponds you can delay and generate unnecessary interests.

Accumulate arrears

A day’s arrears are an additional percentage of interest. When you pay a day or a week later and only pay the installment you will not pay off the debt. We must make use of the various tools provided by the bank online service telephone service nearby agencies to your frequent places etc.