Online small business loans -Where can I get a business loan?

The lack of capital is no longer an excuse to not grow your business, because now, you can obtain, with low-interest rates and comfortable payment terms, up to $ 2,000,000, perfect to give the business that boosts you so desire.

We will give you access to financing for your company in a way that traditional banking cannot. With this product, you have the ability to grow your business through a fast and secure loan that can reach up to $ 2,000,000.

Where can I get a business loan?

Main features

The key to success in business is not to lose opportunities to expand. While money can sometimes play against us, you do not have to allow it to be the only factor responsible for the delay in your projects, since there are a variety of ways to get money now. In fact, between money and opportunity, it is the only money that returns.

If you have an idea or plan to expand your business and reach more customers and see that what limits you are capital, a trusted financial institution that for many years has helped its clients to progress by providing flexible financial solutions for that you have the possibility of growth without having to think too much about money. This lender serves a market composed of small companies with sales of less than 10 million pesos per year and with a team of 1 to 10 people, of which 95% of the companies in Mexico are part.

Loans for business will help you to return the money comfortably with the best amortization you can find in the market. Expanding is possible and in this article, we will present you in detail all the business loans of OakParkFinancial.com.

How do they work?

How do they work?

This entity specializes in providing financial solutions to formal businesses with SAT (with at least 3 months of billing). The application process only takes a few minutes and is 100% online, which means that you will not have to waste an entire day waiting in lines and doing all kinds of annoying procedures. On the other hand, Guzman is a platform that does not need to know how much the company’s income is, they only require access to billing in order to be able to offer the option that best suits the particular situation.

Speaking of the billing, the amount that Guzman approves will depend largely on this factor. Currently, this lender is capable of financing ranging from $ 50,000 to $ 2,000,000 pesos. All this can be seen using the virtual simulator available on the platform, which like most lenders reflects the amount, term and fees of your loan.

Also, although the amount will be subject to billing, the term that is selected will always be respected. The maximum repayment term is 24 months in biweekly payments. In case the loan granted is returned in a responsible and timely manner, one will have the ability to request another with longer terms and lower interest rates.

In itself, the process to request a Guzman is fast, safe and simple. Carrying it out consists of the following steps:

  1. You enter Konfio.mx and you are given “request your credit”.
  2. You have to complete the form with the data online.
  3. In just 10 minutes, you will get an answer and even, already obtaining a loan, the second only takes 3 minutes, without having to process, because the solvency of the person will be proven.
  4. The requested documents are sent (credential and receipt of light).
  5. The date is coordinated to schedule an appointment in which a specialized Guzman agent takes the contract to the business where it will be signed.
  6. Once the contract is signed, the money will be received on the same day.
  7. With the money in the account, you can expand the business in a comfortable and flexible way.

As far as the interests are concerned, these will be subject to the value of the loan and the amount that has been approved. That said, the average rate that Guzman handles is 5% per month with an average Annual Total Cost of 33.4% excluding VAT. Another factor that influences the interest rate that will be applied to the loan, in addition to the amount, is the invoicing of the company, therefore, it should be noted that by returning the loan in a timely manner and being able to invoice more, the Future loans with Guzman will have a longer term and lower interest rates.

We now turn to the repayment of the loan. The biweekly installments that make up the loan can be paid with CLABE STP, which will be granted simultaneously with the loan and with which you can make payments by electronic transfer. Alternatively, you can also choose to pay at a window in different stores 7-Eleven, Telecomm or OXXO, or any of Banorte’s branches.

What do I need to get a loan?

As previously mentioned, the loans are only for SMEs with SAT, therefore, the requirements to be met are directly connected with fundamental documentation that demonstrates that you work in the formal market. The requirements that you must meet to have access to credits are the following:

  • One has to register and create an account
  • You must have a valid credential to vote
  • Must be a resident of Mexico
  • You have to meet the age range, that is, between 18 and 60 years of age
  • You must be a bank account holder
  • One has to present the billing RFC to personalize your credit and;
  • You must present the last receipt of electricity from your home

It should be noted that Guzman checks both the Credit Bureau and the Credit Circle and this will be taken into account for loan approval. However, they do not make clear on their website the qualification that must be had and there are cases in which they have approved loans to people with debts in their report, so, as such, it will not be a requirement or an impediment to access the financing.

conclusion

Taking advantage of the lack of attention that small businesses have of the traditional financial system, the Mexican financial startup is presented as a solution. As previously mentioned, it has recently strengthened the foundations to continue with its expansion and maintain itself in the long term thanks to a strong capital injection.

The main advantage of this online loan platform is the help it provides to microenterprises in Mexico that lack access to bank loans to obtain affordable loans. With the use of algorithm technology and data analysis plus the experience of the risk management team, the solvency of the potential client is measured and thus create a highly complete product.

With a market composed of 95% of companies in Mexico, that is, those that have sales of less than 10 million pesos per year and are made up of a team of 1 to 10 people, the product offered by this platform is even made even vital for the economic growth of the country.

Overindebtedness: personal bankruptcy and its consequences

In France, civil bankruptcy in the strict sense of the term may concern persons who live in the Moselle, the Lower Rhine or the Upper Rhine. In the other departments, over-indebted persons may be subject to the measures provided for by the law on overindebtedness.

In the case of self-employed persons, personal bankruptcy is a sanction that can be taken in case of serious irregularities.

In these geographic areas, civil bankruptcy is provided for individuals who are in good faith, but who are totally unable to pay their debts. The debtor can file a case before the competent court which most often pronounces its judicial liquidation. The consequences of this decision are as follows:

  • the judgment is executed immediately. The judge appoints a judge-commissioner, a liquidator and a bailiff to make an inventory of the debtor’s assets;
  • the debtor is invited to contact as soon as possible the study of the liquidator who proceeds to the sale of the property seizable and having a sufficient market value, the debtor being divested of all his goods. He can no longer withdraw cash from his bank account, but the furniture necessary for his life can not be seized;
  • creditors can no longer sue the debtor, nor enter a mortgage on their property;
  • once the liquidation is completed, the judge declares the closure of the proceedings, which in principle has the effect of erasing all debts of the debtor, except those resulting from a criminal conviction.

Finally, the debtor is enrolled in the FICP for five years, which prevents him from obtaining a bank credit. Additional information is available on various sites dedicated to personal bankruptcy .

The personal recovery procedure

This is the procedure that applies in other French departments. If the insolvency of the debtor is such that he can not pay his debts, even if a conventional recovery plan is put in place, he may ask the enforcement judge to grant him the benefit of the personal recovery.

The execution judge organizes a hearing at which the debtor and his creditors are summoned, and he opens the proceedings at the end of this hearing. Then, a report of the situation of the taxpayer is established and the judge has a delay of four months to take one of the following decisions:

  • closure of the proceedings with the cancellation of the debts of the debtor;
  • establishment of a conventional recovery plan where possible;
  • judicial liquidation of the debtor if he possesses property of sufficient value that can be seized.

Personal recovery involves enrollment in the FICP for a period of five years.

Personal bankruptcy provided for by the French Commercial Code 

This penalty may be imposed on a merchant, a self-employed person or a company executive following the bankruptcy of the company. It is taken in case of dishonesty or serious incompetence, especially in the following cases:

  • abuse of corporate property or behaving as if the property of the company belonged to it;
  • serious accounting irregularities, fictitious accounting;
  • pursuit for a personal purpose of an activity resulting in losses and leading the company to the cessation of payments;
  • diversion or dissipation of assets;
  • maintenance of the company in artificial survival with a view to delaying the opening of a collective procedure.

The consequences of a bankruptcy of an officer are the following:

  • prohibition to run a company or carry on a business activity throughout the duration of the sanction;
  • prohibition of the exercise of elected office

And personal bankruptcy in Quebec?

And personal bankruptcy in Quebec?

As in Alsace-Lorraine, personal bankruptcy also exists across the Atlantic in Canada. This is a well-known reality in Quebec, a French-speaking land par excellence. Here too, personal bankruptcy is an individual’s right to protect oneself against one’s creditors.

Of course there are always disadvantages to not invite individuals to raise debts they will never pay. In Quebec, the consequences are similar to those in Alsace-Moselle, as in the seizure of movable property. But all so-called “liberal” debts will be canceled, including those relating to taxes, mortgages, car loans or credit card-related – among other possibilities.

The 5 signs that prove you have debt problems

 

Did you know that more than 40% of Quebecers are systematically worried about their financial situation?

For many reasons, your financial situation has the potential to deteriorate over time and you can quickly find yourself in a situation of overindebtedness. To avoid being overwhelmed by your debts, it is important to quickly realize that you are in financial trouble before it is too late.

For this, the bankruptcy trustee N. Séguin presents you with 7 signs showing that you probably have debt problems.

 

1. Your income does not pay back your expenses

 

To get a good financial situation, your income must be greater than your expenses. In revenues, you can include:

  • Your salary
  • Your family benefits and your alimony
  • Your housing allowance
  • Employment Insurance benefits
  • Any other income you can collect

Your expenses consist of:

  • Your rent
  • Your credit card payments or loans
  • Your food expenses
  • Your personal expenses
  • Your insurance
  • Any other expense

In the event that your income is lower than your expenses, you are certainly in a worrying financial situation. The income / expense ratio should be at least equivalent, although you do not have a margin of safety for contingencies.

 

2. Your month ends are difficult

 

More than 39% of Quebecers report having difficulties at the end of the month to pay their bills. This quickly becomes an alarming sign for debt problems.

When you pay your bills late or leave them unpaid, your debts accumulate and you are quickly overwhelmed over the months. It is important to act quickly before you end up without electricity or housing, for example.

 

3. You fight with your credit cards

 3. You fight with your credit cards

 

The credit card says a lot about your financial situation and your debt problems. If any of these situations apply to you, this could alert you to:

  • You have trouble repaying the full amount of your credit cards
  • You pay only the minimum required for your credit cards
  • Your bank accounts are uncovered
  • You already had your credit card declined in store
  • You are using a credit card to pay the balance of another credit card

If the amount of your credit cards frequently exceeds your repayment capacity, you risk debt problems.

 

4. You are asking for help

 

Debt problems often result in seeking help from family, friends and relatives. You want to have your credit card reimbursed by your peers in order to remedy your financial situation. This can prevent more frequent debt problems.

 

5. You are worried

 

Debt problems are a big source of stress, worry and upheaval. You have trouble sleeping well and are afraid of your financial future. These negative feelings prove your financial uncertainty. Regulating your debt problems will prevent you from being in a psychologically uncomfortable situation.

 

These signs are similar to your current financial situation and you are experiencing debt problems, contact our bankruptcy trustee N. Séguin. We accompany you to regulate and correct your debt problems with debt consolidation , consumer proposal and personal bankruptcy .