Monthly Archives: March 2019

Why Apply for a Loan?

Let’s start by reminding you what Fintech is. This is the name given to finance companies that use technology as their main tool. The concept is a composition of the words financial and technology.
What differentiates fintech from traditional finance companies is the use of technology in each of the processes they perform.

The biggest benefit they offer you apart from being able to finance your SME is the speed with which they manage to give you an answer. Likewise, the processes they handle increase customer satisfaction.

Why is time money?

Why is time money?

Asking for a loan in the traditional way can take you days that you could be investing in your business and its improvement. Order one in a fintech shortens the term and the journey to an establishment. They can also offer you a better option of products.

If you acquire a credit in this type of company these are other advantages that you can have:

Less requirements

Less requirements

Since the fintechs are totally technological, each of their processes with clients is through digital tools. Your request is through internet and the documents that you request are also sent in this way.
It is more convenient to request a loan in this way since they have the facility to acquire more information with less requirements.

But clearly here many entrepreneurs fear, but they need to trust since there are laws that regulate them. It is very difficult that your information is in danger, especially if you choose correctly and investigate the company.

Lower cost

Lower cost

The credit they offer may be greater than others. The interest rates they establish are lower than traditional banks, because they reduce many additional costs that this would charge you.
They are the best option if you are undertaking them as they are fully adapted to the needs of each of the clients and their SMEs.

Greater financing

Greater financing

Since they are adaptable, your financing could be better and better if you manage it properly. Of course they evaluate important data to analyze your ability to pay and based on that make you an offer.
We recommend you stay up to date with your financial knowledge in order to benefit your SME, improve your credit history and the profitability of your business.

Are they for SMEs?

Are they for SMEs?

The index indicates that more than 80% of economic units in Mexico are considered small and medium enterprises. Which is very important for the development of the country.
The fintech’s mission is to cover the bias that the big banks leave behind: SMEs and their momentum.

If what you want is a credit and ask for it in the easiest way and without wasting time this is the option.

Remember that you should thoroughly investigate the company that you decide to feel comfortable giving your data. But above all that the offer you provide is not only the best but the appropriate one.

Loan for tax debts – apply now without obligation online

Does the tax office charge you half a percent interest per month? Do you need a credit for tax debts, because with the treasury is not “eating good cherries”? Are you an employee or do you work on an independent basis?

Below you will find authentic information on financing options to offset the tax debt. To wait too long for the goodwill of the tax authorities is not advisable.

Otherwise, there will be additional costs and negative credit quality added to the lending rate. The longer the taxpayer waits, the worse the credit opportunities.

Credit for tax debts – no pardon for taxpayers

It is undeniable that nobody takes credit for tax debts because he is so looking forward to finally making his “contribution to the common good”. The majority of taxpayers are even annoyed about how and for what the money is spent. To refuse in principle does not help. In the vast majority of cases, state power ultimately enforces its demands.

Every taxable citizen can be affected. Salaried employees as well as self-employed and freelancers. Just no time for the tax return, lack of knowledge or lack of money to pay the tax does not apply. The instrumentation to force defaulting taxpayers to action is gigantic. After expiry of a prescribed period, the instruments will start up.

The late filing of the tax declaration can result in a tax assessment. It is estimated that in all probability, a tax debt arises. Late payments are subject to interest at 0.5% per month. In addition, usually fines. It is relatively irrelevant to the tax office as to whether a debtor can currently afford his tax payment or not.

Credit tip – operate damage control

To mitigate damage usually serves the credit for tax debts. The sooner the application is made, the greater the real financing prospects, and the lower the amount of credit required.

If the tax office secures, it will be really difficult to take advantage of offers to finance the backward tax burden.

Loan offers – Employees with tax liabilities

Loan offers - Employees with tax liabilities

Tax debts can arise equally among employees and the self-employed. The risk for employees is only more moderate because the employer deducts the income tax directly from the gross income and remits it to the tax office. Banned is the danger to become a defaulting tax debtor, but still not.

It is much easier for employees subject to social insurance to easily accept appropriate credit for tax debts. Facilitators expect creditors, since the legally required credit check for employees is much easier to exist than for self-employed, solo entrepreneurs or freelancers.

The best approach to easy credit search is provided by loan comparisons. Consumer credit for employees is offered in large numbers. The interest level is even well below the level of the tax office settled. For very small loan amounts, if luck comes along, the annual percentage rate is even below one percent. With good credit ratings, around four percent would have to be paid throughout.

Credit for the tax – self-employed

Credit for the tax - self-employed

In the credit comparison with a credit for tax debts can find also self-employed and solo entrepreneur. However, it is somewhat more difficult to obtain the conclusive, recognized credit assessment. In this case, the resulting debt in income tax even have a positive effect on the loan opportunities. A tax debt on income tax arises from profits.

Even if the profit itself is already spent again, nevertheless the money was earned. Securing a profit on a regular basis lays the foundation for repaying a loan. Some credit institutions, such as barclaycard, use recent recent tax assessments for credit checks. The loan approval comes when the profit appears sufficiently safe and high.

He must bear all the usual household costs and also enable the borrower to pay the installment on time. Under these conditions, the interest rate, for loans for tax debts self-employed and freelancers, is at a comparable level to the employee credit. It would be more difficult to obtain the loan approval if the trade only runs for a short time or if little profit is made.

Credit for the tax arrears – problem for difficult cases

Credit for the tax arrears - problem for difficult cases

Especially at the income level of solo self-employed people can unfortunately be seldom talk about adequate profit. The income is just enough to cover the urgent costs and livelihoods. Solo workers often “toiled” around the clock. The tax office is not interested in whether the hourly wage is only € 2 or corresponds to a manager’s salary.

It only counts how high the arithmetical tax debt is. If you have 10,000 euros to pay tax, they can be earned in just a few days, as well as throughout the year. The tax debt is the same if there is no one-off transaction. Against this background, a sufficient creditworthiness, according to the legal requirements for bank credit to prove, is extremely difficult.

Problem solving the bank loan:

A viable option would be to prove personal creditworthiness by lending additional credit. It would be possible to pledge a valuable security of security, for example, a paid property. Another simpler alternative would be the loan for the tax debt with solvent guarantor. In this case, the credit institution assesses the mutual creditworthiness of both borrowers together.

Credit for tax debts – take private credit offers

An alternative to loans from banks is creating credit portals through the serious mediation of money from private lenders. The credit portals Smava and Auxmoney enjoy a particularly good reputation. The granting of credit for tax debts of private investors is not tied to the strict requirements of bank lending for the self-employed.

For private lenders, the legislator grants the self-responsibility to decide freely to whom to grant credit. Each investor sets their own yardsticks according to which criteria he submits his bids. Each bid finances only a portion of the desired loan amount. The credit for tax liabilities would be approved as soon as sufficient bids have been received and accepted.

For creditors to make the credit approval a little more palatable, to offer credit privately on these credit portals various options. Firstly, it is important to unlock the free certificates. They create risk transparency at a professional level and at the same time trust. In addition, the required credit for tax liabilities could be additionally secured. The additional security would be possible through the deposit of the car letter.

Leasing or SME Credit? What’s Good for Your Business

It is very difficult to decide if you own an SME what financing is right for your business. That’s why we want to give you the necessary information so you can choose between SME credit or leasing. Maybe the second term is unknown, but with the growth of SMEs in Mexico, new credit models have been created that help both an entrepreneur and an SME owner to continue with their projects.

Next, we will tell you what each one is and which one is best for your business:

Leasing

Leasing

Leasing has emerged as a loan that works similar to a common lease. That is, it is totally an agreement between a financier that allows to facilitate the use of physical goods such as machinery, transportation, real estate and even technological systems that allow improving the processes of your business. But the good belongs totally to the financial company, while you are paying an income every month for its use. In a few words you can finance 100% of the value of the purchase of what you need, while you pay month by month for the use of that good.

SME credit

SME credit

The term SME credit will sound more common, but we want to make clear what it is; This type of financing is very specific for small and medium enterprises that want to grow and reach new horizons. Since it does not limit its use to the acquisition of goods, but adapts to that and all the needs that may arise in a business. For example, to raise your capital, improve your inventory, finance a specific project or even expand your business among many other actions.

Which one suits you?

Which one suits you?

The main point of comparison, depends on the need or needs of your business at this time. That is, you may need to improve production or provide a more complete service, then leasing could help you to solve your need. But if, in addition to that, there is something unforeseen with your inventory or you achieve a very important business opportunity, which will make your SME grow, you would have to apply for a loan elsewhere. What would make your level of indebtedness grow with the possibility of losing liquidity for your entire business.

We can say that an SME loan brings greater advantages, since you can finance your machinery, software or transport fleet, and also use part of that amount to enlarge your staff, expand or remodel. Also with this type of financing you have complete control, because you can choose what and how to invest to achieve the goals of your business.

As you can see, the facilities and advantages of an SME loan on leasing are higher. With one you get an amount of money that you are free to use and with another you can only acquire one good for a certain time.

Learn more about credit for small and medium businesses in our blog and enter Herne the Hunter so that in just minutes you can discover how much we can offer to boost your business.