In our country they moved around 300,000 million dollars in the last year, through the loan application, according to the Bank.
It was a year in which a greater flow of cash was noticed, if we compare with previous years, by financial institutions and not only banks, but many others that offer other opportunities to obtain financing thanks to the new companies that They are emerging.
These have appeared with the objective of giving a better service to the companies that need available and this is possible thanks to the online form, either in loans and credits.
Technology has come to stay, it is a fact that everything around us is practically conditioned by technological advances, and in financial matters it will not be less.
Even so, the loan, a financial instrument so used above all by companies to grow their business, presents different modalities that we will explain later.
What is a loan?
A loan is a financial operation carried out by an entity (lender) that gives a person or other company (borrower) the amount of money the latter needs. In exchange for this, said amount will have to be returned plus interest agreed within a certain period.
The loan is usually returned on a regular basis, on specified dates (monthly, quarterly, semiannually …). Which explains why the operation has a somewhat longer duration and is a long-term tool for companies.
For this reason, we must take into account what we need the money we are going to request, since if it is to cover the day-to-day operations of our company, a loan will not be very effective, however if you choose another type of tool such as In advance of invoices you can see all your treasury problems resolved.
The loan is usually requested when you need to finance the acquisition of goods or services such as large machinery, a building, a reform.
What types of loans exist?
There are different types of loans, we can find different modalities when requesting one and not knowing what to do, so we explain your differences.
- Loans without collateral
We talk about those loans that are granted without the need for the signature of a third person or entity that guarantees the contract, that is, of someone who commits to respond financially in case of default.
- Private equity loans
This has been a very recurring system when banks and savings banks have closed the credit and, then, the first thing that was resorted to was friends and family. Well, the private equity loan is practically this, a faster form of financing because an emergency has arisen whereby an individual is used to request the money that a company or another individual needs.
- Bank loans
As the word says, it is that loan that comes from a banking entity. The operation will last the entire process from the moment it is requested, granted and processed until it is returned with interest.
- Mortgage loans
Another type of loan, similar to the previous one, but it is characterized because, in addition to carrying personal guarantees, it requires real guarantees such as the mortgage of a property. That is, in case of default, the bank will become the new owner of the home.
- Loans for entrepreneurs
They depend on the type of entity that grants them. They are special loans to start a project. They grant special conditions to entrepreneurs such as 100% financing of the investment, long term fixed interest or reduced commissions, etc.
- Fast loans
They are ideal for occasions when economic needs arise and you have to look for an immediate loan. It is done in a personal way, to an individual who can provide us with the money to be able to face an unexpected expense.
- ICO loans
It is a type of loan that comes from the public administration. It is a financing oriented to freelancers, companies and entities, both public and private, that make productive investments in national territory and / or need liquidity.
- Online loans
They are a type of loans increasingly demanded today. Its purpose is similar to that of other types of loans but they are characterized by being online. This means that operations are carried out over the Internet, which makes the process much more agile, easy and simple for the user. What brings additional value to the user, besides being, in the long run, cheaper.
An example of companies that carry out this type of loans are the Alternative Financing platforms.
In addition there are many other alternatives to get cash that is not a loan, we refer to loans or famous microcredits, leasing, renting …
To make a decision like this, it is necessary to investigate and now that you know the different types of loans that you can find, do not be afraid to go to a financial institution and ask, with the information we have given you you can compare and finally choose the one that most It suits you.