The goal of every entrepreneur is to grow their business. But it is not always possible for not having the money to make this investment, so they often end up seeking loans or financing.
According to data, only 30% entrepreneurs succeed in applying for a loan from traditional financial institutions. Therefore, seeking to serve the other 70% of the market, companies have emerged that facilitate access to loans, allowing easier and faster access to corporate credit lines entirely online.
To get you the amount you need to invest in your business, let’s present all the advantages of getting an online loan. Check out!
Check us out fast if you small business loans online
Before understanding the advantages it is important to understand how the procedure for applying for an online loan for your business works, you may view it now. It’s very simple, see how it works:
First, the customer tells you the amount they need and then the reason why the money will be used. After that, it registers personal information such as name, email, cpf, mobile, as well as company information such as cnpj and monthly invoicing.
Based on the information provided, a valuation of the company is made to determine the amount offered, the rate and the payment deadline. For this, some public databases are consulted, providing information on financial health and business history.
After the analysis, a personalized offer is sent to the registered email at the time of the request. This offer includes the amount, the interest rate and the number of installments offered, and may adjust the amount and number of installments according to customer preference.
The process does not end there, but it is shortly
If the customer accepts the proposal, he still needs to send some documents to further analyze some details of the company. At this stage the customer must submit company documents, such as the last amendment to the articles of association, proof of company address, full bank statements of the company accounts for the last 90 days , as well as some documents from the company owners, such as Identity, cpf members, proof of income and proof of residence .
Upon rapid review of the documents, the customer will receive a response telling them if they approved no. If everything is ok and approved it will receive an email to sign the contract online.
After the contract is signed, within 2 days the money is deposited in the indicated account pj and then just do what really matters: invest in your business!
But what are the advantages of an online business loan?
You can see that the process is very simple, but to know the advantages of online business loan, it is nice that you know some facilities and benefits of this type of credit before traditional financial institutions.
It’s all done online: you don’t have to waste your time or money moving to an agency to apply for your loan;
More Affordable Fees: Because the process is fully online, this type of business has lower operating costs, enabling you to offer more competitive rates;
More agile analysis: Online credit companies seek to eliminate much of the paperwork and automate some processes, allowing everything to be done faster.
Less Red Tape: Online lending companies use information available on the internet to evaluate their clients, so they often ask for fewer documents and proofs. You do not need to send your company’s Balance Sheet or Income Statement.
Increased transparency: When simulating an online credit, all information regarding loan amounts is indicated – the actual interest rates, the Total Effective Cost (CET) and the value of each installment;