Discover more information about payday loans online
Thanks to payday loans online you can easily access the money you need.
Business loans will be a good option if you need to have liquidity for any need that has arisen in your business.
We tell you what are the different business loans:
Loans for companies through public entities
- Official Credit Institute: If you want to obtain a loan for your business, there are public entities, such as the Official Credit Institute (ICO) that is responsible for offering to finance through public banks, with the repayment period of up to 20 years or fixed or variable interest rate, depending on the situation. The financing conditions are established by ICO. However, you can hire this type of service through a bank that is subscribed to ICO.
- Subsidies: It is also possible to obtain subsidies, financing through public entities such as local or state administration. If you want to know more exact information about this type of financing, you can go to the town hall where you live.
Loans for companies through Business Angel
It is a method of financing used by new companies or start-ups. A person, or an investor, trust your project and its future success and decides to help you with financing.
In addition to financing, this person will offer help and guidance during the process of starting your business.
Loans for companies through Crowdlending
This type of financing is equated to loans between individuals or companies using private investors that are responsible for financing money with a fixed interest and fixed repayment term as well.
Loans for companies through Crowdfunding
It refers to group financing. A group provides financing to some business projects. Each individual contributes money in small or large amounts in order to reach a certain percentage of participation in the project.
The benefit is obtained later when said project is successful or has been completed.
Loans for companies through online banking entities
If you are autonomous and you are in need of liquidity you can always apply for business loans online through the different banks that offer them.
Check our updated list to find the ideal loan for your company.
How to apply for business loans?
The time needed: 10 minutes.
When choosing one of the loans to start a business from the list that we offer you in Bankate, you will make a decision regarding the financial product that best suits what you are looking for.
- Compare our loans to start a businessIn our updated list you can find various lenders online. Read the characteristics of each financial product to find the best one for you.
- Send your request by filling out a company data formYou must provide personal and economic information. In addition, send the required minimum documentation.
- Wait a few seconds until your loan is approvedIn a few minutes and thanks to the automatic verification systems, the entity will know if your loan can be approved.
- Get the financing you needRead the contract and sign if you agree. In a short time, you will have the money entered into your bank account.
Frequently asked questions of business loans
What are business loans?
These loans are placed at the corporate level and are requested by the company or autonomous person who has a need for immediate liquidity for reasons such as payment to suppliers, fees, investment, etc.
What interests are business loans?
It depends on the company profile and the amount of money requested, the loan conditions will vary to suit the situation. The Bank of Spain published in August 2019 that the average cost of loans for companies up to 250,000 USD is 2.67% APR.
Is it mandatory to present a guarantee when requesting loans for companies?
Depending on the amount of money requested as well as the company profile, lenders may require a guarantee or guarantee as payment insurance.
Are loans fast to open a business?
Depending on the lender, the loan may take days, weeks or even up to three months. If you need money urgently, investigate the concession time of each entity to know the time it will take to receive the money.
How to repay loans for companies?
Depending on the lender and the type of loan, you can repay the money in monthly installments at the end of the month or pay at the end of the term with interest.
Why trust Bankate when applying for a loan to open a business?
In Bankate, we provide all the information you need if you are looking for loans online To open a business.
Business loans are evolving and adapting to the needs and demands of different users.
During this process, both the conditions and the requirements of the different loans are constantly changing. So the comparison task becomes more complicated, taking a long time.
That is why in Bankate we take care of:
- Offer you an updated list of new business loans, in which we detail the conditions and requirements of each one.
- Ensure that all borrowing entities are safe entities and comply with strict security regulations.
- Detail the costs associated with each type of loan to open a business, so you don’t get any surprises.
- Show you both the advantages and disadvantages.
If you are interested in knowing about business loans and credits, check our updated list in the first part of this page.
Get a business loan with a guarantee
Loans for business with collateral will always be more profitable than loans without collateral, since in case you cannot face your loan for any reason, the lender can always demand it from your guarantor.
Factors to consider when asking someone to guarantee you:
- Think about how it can affect your personal relationship if the lender ends up using the collateral
- What are the chances of this happening?
- Compare and differentiate the total price between the loan option with a guarantee and without guarantee
We recommend you not to use financing as a temporary solution or if you know that you will not be able to face the repayment of the loan to open your business since in the end, it can end up bringing problems for you and your business.
The requirements to apply for a loan for new businesses
If you apply for a loan for your new business through a traditional bank, the application process is usually slow and complicated.
In Bankate we offer you a list of the different online banking entities with which you will not have to fill in many documents or take a long time.
We make it as easy and simple as possible.
Online entities are aware that users often require money quickly, so they have reduced their requirements when approving a business loan.
The basic requirements of business loans are as follows:
- The company must be registered in Spain
- The company has a minimum of benefits
- The company is correctly documented and updated regarding the payment of taxes
- When applying for a business loan, the bank will usually request a business plan
If the company does not meet any of the aforementioned requirements, no bank can offer you a loan for new businesses.
What are the best business loans online?
It is difficult to answer such a question since the best loan will always depend on the economic profile of your company.
When comparing loans online, there are different factors and characteristics to consider.
You can ask yourself a question:
What are my priorities when choosing a loan?
- That the money is available in your account the same day
- Pay few interests
- That the loan is without collateral so as not to compromise any family member
- Be able to use your loan money for whatever you want
Decide which feature is the most priority and relevant for you before comparing the different business loans from the online list. What you should keep in mind is what the loan is best suited to what you are looking for.
Can you get business loans without collateral?
You may need to apply for a loan but you do not want to commit any family member or friend to be guarantors.
Today, most conventional banking entities request a guarantee before approving a loan to open a business.
Fortunately, there are alternatives such as loans for freelancers and entrepreneurs without collateral. In this way, the loan applicant does not need to involve anyone nor will he have to present any guarantee with his personal property.
However, loans for businesses without collateral, not requiring collateral, tend to have significantly higher interest rates than other loans.
Advantages of requesting a loan to start a business
The advantages when requesting a loan to start a business are the following:
- They are easy when requesting
- They are 100% online
- They are flexible
- Unchecked CIRBE
- Sometimes there is no study commission or early repayment
- Business loans will be a good option if you need to obtain financing for your business.
- There are different ways of financing your business.
- The requirements to apply for a business loan are minimal.
- The best loan will always depend on the profile of your company and your needs.
- Loans for businesses without collateral are possible but have a slightly higher interest rate.