The bank loan granted to companies is often associated with a personal guarantee, can we get funding without this deposit, what are the solutions? We tell you everything.
Bank loan for business: instructions for use
Whether it’s starting a business, launching a project, or simply supporting investment or activity, most companies will turn to bank credit. This involves filing an application with a professional bank, filing a file with supporting documents and providing balance sheets. The bank may also ask the entrepreneur for a personal guarantee.
The personal guarantee is simply a guarantee of payment required by the bank, an amount and a duration are determined at the time of the subscription of the credit. In other words, in case of non-repayment of the debt, the bank can turn to the surety to recover the amounts due, it is usually a commitment on its own property. Regarding its implementation, the entrepreneur must write with his hand a written guarantee providing the amount and duration.
How to get credit without a personal guarantee?
Although the bond is an important guarantee for the bank, it is not an obligation because depending on the type of company and the type of project to be financed, it can be avoided. The quality of the project plays a major role in the creation of an activity, as does the state of the company’s health for an already existing structure. Note that the last 2 balance sheets will be requested to study the financing project, they have important information to determine the need for a deposit according to the bank, it is the EBE (gross surplus of operation).
The existence of a financial contribution to be added to the financing can avoid resorting to a personal guarantee, whether it is from a cash or a personal sum, without forgetting that it is the capacity of repayment which counts above all . Otherwise, there is the personal loan of honor, the opening of the capital or the family or friendly loan.
Who offers a bank loan without a deposit?
Obtaining a bank loan in the context of a business involves filing an application with different institutions, but it is not easy to know which organization to turn to in order to maximize your chances of obtaining professional credit. personal guarantee, the best solution is to use a comparator.
Comparators of credits allow to save time in its financing steps but also to direct its file towards the banking institutions that can best meet its needs, moreover, the comparison of the offers can make it possible to negotiate better conditions for the financing of his business. The list of documents relating to the study file is often necessary to validate the completeness and in particular the need for the bank guarantee, the business plan or the balance sheets will be imperative to be quickly informed of the proposed repayment conditions.