Lending is one of the most important instruments of state policy on development of small business.In the event that individual entrepreneurs are needed funds for the development of business activities, they can apply to the various funds, which are now created a lot, as well as banks for a loan.But it should be noted that this type of loan has some special features.
Firstly, attention should be paid to the fact that, as a rule, interest rates on such loans is higher than the usual rate for us, consumer loans.
Secondly, loans to un drawn much longer and more careful attention to the study of the documents presented by the applicant.This is due to the fact that the loan funds and banks include loans to small businesses in the activities with a high level of economic risk.
Third, to get a loan, an individual entrepreneur will have to execute and submit to the lender establishment of a much larger set of documents, for example, than in the case of consumer credit.
The value of the loan amount, which can count the individual entrepreneur will be determined by each bank individually, but it depends on a number of reasons, the main ones are:
- whether the applicant for service in the bank;
- what is the applicant's overall credit history and, especially, the story in this particular bank;
- a project carried out under the application for a loan.
Most bank loans to entrepreneurs as the maximum period for which issued the credit is three years.It is important to know that there are several government programs that provide subsidized small business loans for specific projects, but in this case the credit can only be the banks, which are included in this program.
banks and funds provide several types and methods of crediting entrepreneurs.
Microcredit involves the use of the simplified scheme, according to which loans are provided for un.This scheme is a procedure for granting limited amounts on the basis of the loan agreement between credit organizations and entrepreneurs.In addition, as part of the micro-credit can be used and other mechanisms, among which the most popular today are a credit to cover the overdraft, the bank guarantee.Widespread use in small businesses acquire the leasing and factoring, the allocation of funds for the purchase of vehicles, equipment and even the amount of replenishment of current resources.In some cases, loans to un available for the purchase of real estate.
Deposits, as a form of credit, are quite profitable option for entrepreneurs, because in contrast to the deposits of legal entities here it is possible to remove the entire amount of the deposit before the period.In addition, deposit credits to un manageable, including by means of electronic systems accessible via the Internet.
Foreign currency loans are also available, their demand is related to the need to purchase goods abroad.For such a loan, the entrepreneur should open a foreign currency account and conclude an agreement with the bank.The advantage of lending for businesses is that it is not necessary to provide the bank details of the project and justify the purchase of currency.At the same time and the value of the purchased currency is not limited.
Thus, to date, banks and funds are able to provide individual entrepreneurs rather wide range of credit products that are able to ensure sustainable and efficient development of small businesses.
