Whether you need to pay off small debts, invest, get working capital to drive business, renew inventory or increase revenue, a loan can be a great option!
But where to start ?! But don’t worry, because we’ll explain everything you need to know to apply for credit in an uncomplicated way.
There are some boring and rather bureaucratic processes when placing an order, especially with traditional banks, such as the evaluation process and the submission of documentation, for example. The good part is what we are going to tell now, after all, we know the urgent needs of those who undertake! And that’s what we’ll talk about in this post, check it out!
Before applying for a loan, plan!
First, set a goal and then set up a good plan. These are two cornerstones for businesses and entrepreneurs to grow by maintaining administrative control of the business without hurting the company’s financial health.
To apply for loan you need to get organized! Good managers control cash and keep the organization up to date. When the credit opportunity arises, they know that all costs are as expected and of course make the investments wisely. Do you know that thing about being caught off guard? So it does not happen.
Making sustainable financial planning is nothing more than presenting the company’s finances clearly, having an understanding of how the money is being spent and estimating the resources needed to operate the operation.
With company numbers in hand, the entrepreneur can begin to wonder what credit worthiness is needed for any investment. Let’s agree that there is nothing worse for a company’s health than raising an unnecessary loan or not being able to repay it.
For example, when a business wants to grow, borrowing is a great alternative for the entrepreneur who doesn’t have to take it out of his pocket.
Keeping your business name clean is critical
Lack of credit is arguably a frequent problem in Brazil. In March 2018, Serasa announced the number of negative CNPJs: 5.4 million Brazilian companies are registered with credit protection agencies, which corresponds to 25% of the total companies in the country.
Financial institutions often have a debtor record, so it is important to always have the name free of restrictions, so if you need access to credit is an essential condition for those planning to grow. If you have a restriction on a bank, do not be embarrassed, it is normal in the life of a company to have unpaid debts for various reasons.