02 Oct

Online faxless payday loans -Contact us if you need an electronic payday loan

At the time of applying for a business loan, either to expand your business, to deal with invoices, renovate the facilities, buy new material or for endless reasons in which you need to provide yourself with a high initial investment, you will pass to the second phase in which you must decide who to go to get such financing.

Before it was difficult to choose which bank was the one that was going to reach out to you and was going to offer you the best conditions, which meant a high investment of time listening to very similar offers and clauses and with something in common: the lack of flexibility.

Nowadays, when a company chooses to request financing to carry out its project, the range of possibilities on whom to turn to is much broader, finding us already different types of financing. Within this range is Crowdlending, with important differences compared to traditional banking.

But if there is something that really differentiates this new form of financing with respect to banks, it is that it is flexible financing.

Contact us if you need an electronic payday loan

Achieving an electronic payday loan at https://acfa-cashflow.com/ is one of the best options that can be hired since financing adapted to the needs will be achieved where the following advantages can be achieved:

  • To be able to repay the loan for free
  • Open to negotiation in the application process to reach an agreement
  • At a fair price
  • No additional products
  • Among other advantages …

Flexible financing on internet loans

Flexible financing on internet loans

There are a number of features that make the decision to apply for a loan through a crowdlending platform like Good Finance, the easiest and most effective way to get flexible financing.

Flexible Crowdlending Financing

  • First of all, the company is not obliged to hire additional products, so the cost of financing will be much lower. In other banking entities, the borrower is obliged to hire cards, insurance, or other additional products that make the requested main product, the financing, more expensive.
  • CIRBE does not consume: flexible financing with Good Finance does not consume CIRBE, which means that said debt does not become “visible” and increases the probability that if the company decides to request bank financing at a specific time, it can be granted.
  • It does not require travel since everything is done online and is available 365 days a year, 7 days a week, 24 hours a day.
  • Each operation is studied individually. Good Finance studies each application individually and offers a fair price for each operation, which will be the return that the investor who participates in each loan will receive in large part.
  • Free redemptions are allowed. The loan can be fully and partially repaid completely free of charge.
  • No study commission

The most characteristic of flexible financing is free depreciation

But if there is something we want to highlight, and therefore we expand, it is the possibility of amortization, both partial and total. What do we mean by this?

  • Partial amortization: We put you in a situation, it turns out that the company is profitably profiting the loan obtained by the platform and can afford to repay a portion of the debt in advance, is this going to cost you? the answer is no. In Good Finance we do not charge for amortization and accept the amount returned without any commission.
  • Total Amortization: For example, let’s take a restaurant located in Zaragoza that has requested financing to carry out an expansion of its business and start a new establishment in Barcelona. After a while, the opening of the new store has been a success and that company has obtained a greater benefit than expected so it has recovered the money needed to pay the loan in full.
17 Sep

Promotional Loan: 6 tips on how to manage the bank conversation

Promotional banks such as Intrasavings provide low-interest loans to promote and support entrepreneurs. With the Intrasavings loan, however, the house bank applies for the loan.

How to apply for a Intrasavings loan

How to apply for a Intrasavings loan

Entrepreneurs wishing to take out a Intrasavings loan can apply for this from their bank. The house bank checks the application and forwards it to Intrasavings if the decision is positive. The house bank principle has the advantage that the borrower and the bank already have a relationship of trust. The house bank can thus better estimate the project. However, as the house bank is partially involved, it is important to be persuasive.

It does not necessarily have to be the long-standing house bank. You can also apply for the Intrasavings loan through any other bank that works with Intrasavings. The following tips should help you to prepare for your bank conversation :

1. Plan in time

1. Plan in time

You should make an appointment in good time. You can already ask yourself which documents you need. It may be useful to contact a specialist who is familiar with applying for development loans.

Important: It can take up to four weeks between application and loan approval.

2. Respect deadlines

2. Respect deadlines

For example, some Intrasavings programs can only be applied for before the company is founded. Others in the first years after the foundation. Inform yourself therefore well and submit your request in time.

3. Proceed in a planned manner

First, you should convince your house bank to finance your project. If you have succeeded, you can work together with your bank to find the optimal solution. If necessary, it makes sense to supplement the Intrasavings loan with a loan from the house bank.

4. Bring securities

With additional collateral, you increase the chance that your application will be granted. Banks have high requirements. If you contribute your own collateral and are also legally liable, the bank sees that you are ready to accept responsibility. Possible additional collateral are, for example, sureties via surety banks, real estate, movables (eg machines) and other assets (eg savings).

5. Actively participate

5. Actively participate

As banks generate more profits by selling their own products, you should actively address the issue of Intrasavings and promotional loans.

6. Prepare Plan B.

6. Prepare Plan B.

Not every bank is the same. Therefore, there will be banks that will reject your project. That’s why you should talk to several banks. Howard Schultz – the founder of Starbucks – received 244 cancellations from banks before he got a commitment.

17 Sep

Borrowing low income | Borrow money without work

Borrow with a low income? If you have a low income then you cannot borrow money everywhere. Partly due to the strict rules regarding borrowing money, it is often not possible everywhere if you have a low income. And if you can borrow money with a low income then you can usually borrow less money or face high costs. And despite the fact that borrowing money with a low income is more difficult, it is certainly possible. Although you will have to receive a minimum income and how much this is, this differs per lender.

How much to borrow with a low income

How much to borrow with a low income

How much you can borrow with a low income depends entirely on the type of loan you want to take out. If you want to take out a personal loan or a revolving credit, you will encounter many restrictions with a low income. Furthermore, it will be checked whether you have a fixed income and whether you have other loans.

Borrow money with a low income

Borrow money with a low income

If you want to borrow a relatively small amount despite having a low income, you can request a mini loan. With a mini loan or also called mini credit you can also borrow money while you receive a low income. You have a low income if you are out of work and therefore receive benefits or if you receive another benefit or if you have a low salary. In these cases you can borrow money but there may be some conditions other than that you would have a higher income.

Bankil of loan
Wherever you can borrow money with a low income, the Good Finance is a loan. You can give items that you do not use as collateral to the Good Finance van loan. You will receive a sum of money for this. As soon as you have paid the money back, you will get your things back from the Good Finance as a loan.

Compare mini loans

Compare mini loans

If you are going to borrow money with a low income, you will have to pay extra attention to the costs of such a loan. The loan and the additional costs must also be paid back and the higher the costs, the more you will have to pay at the end of the term. Applying for a mini-loan with a low income is not a problem in most cases.

Often you must have more income than 1000 euros per month. You will therefore have to read the terms and conditions of the mini-loan providers carefully, as these may differ per lender. If you have found a few mini-loan providers that meet your needs, you will have to compare these with each other. By comparing the mini loans you will find out where you can borrow cheaper with a low income and at the most favorable conditions.

12 Sep

Do you have a competitor for a home loan?

Home loans are well known and there are no Hungarian people who have not heard of them, contrary to the concept of home leasing, which not everyone is aware of.

The access to the two homes is very similar to each other, and the differences will be discussed in more detail here, is the home lease a competitor to the home loan?

 

Who can be offered a lease and who has a home loan?

Who can be offered a lease and who has a home loan?

Should I own at start-up, or should I own it later at the end of the term?

Financial institutions can charge a lower interest rate on a home loan because our property is covered by a mortgage. What many people love and that is the driving force is to get ownership of the apartment right at the moment of sale.

Leasing is a bit different construction, the ownership of the apartment remains with the leasing company, we get the apartment up to use, or we can rent it. Ownership of the apartment will be officially written on our name only after payment of the details, but it can be used functionally.

 

The credit assessment is both!

The credit assessment is both!

For both home loans and home leasing, the bank requires the debtor to be certified, in which case they examine:

  • whether our income is sufficient from the bank’s point of view
  • whether the credit coverage is adequate
  • can we pay the appropriate income-proportional installment according to the central bank’s expectations

 

The level of leverage leans towards leasing!

The level of leverage leans towards leasing!

  • In the case of a home loan, 80% of the property’s market value can be lent
  • in the case of leasing, however, the upper limit is 85%

This means that for a 25 million HUF apartment, in principle, the mortgage loan is 5 million HUF, own capital is 20%, and the leasing is 3.75 million HUF, which is 15%.

In many cases, banks do not support maximum credit, that is, up to 80%, and usually have stricter conditions. This is the case with both home loan and leasing terms.

Without own power:

The opportunity is there, but it is very risky as it requires additional cover, which will involve the purchase of another property and, if unfavorable, may result in the loss of this property.

 

What does the JTM Rule mean?

home loan

The central bank’s requirement is the pay-as-you-go rule.

The rule for forint loans

  • With a monthly net income of HUF 400,000, the repayment can be up to 50% of the income
  • If the monthly net income is HUF 400,000, the maximum repayment amount is 60% of the income

So, in the case of real estate leasing, you may not be able to get a loan with a lower down payment because the repayment payable would be too high compared to our earnings, although the same limit could also be a barrier to a home loan.

 

What are the options for taking out a foreign currency loan?

What are the options for taking out a foreign currency loan?

Only available to those who receive payments in foreign currency, which is a very small layer. In Hungary, there is no real demand for foreign currency loans today. The low level of the forint interest rate does not make it reasonable!

Expert opinion: “JTM rules are much stricter than forint loans or forint-based leasing.

In the case of foreign currency loans, the repayer

  • Up to 25% of the income can be less than 400 thousand HUF monthly net income
  • Even if the monthly net income is above 400 thousand HUF, the repayment is not allowed above 30%

 

The repayment is lower than the lease if you buy a new home

The repayment is lower than the lease if you buy a new home

If, for example, look at a used home loan and used home lease with similar terms and conditions, the monthly repayments are similar, would be 116,000-117,000 HUF.

The difference is significant for newly built loans.

In the case of newly built housing and open-ended leasing, the monthly repayment on the leasing is HUF 105 thousand, while the mortgage is HUF 117 thousand.

The supply is changing rapidly:

Two large banks offer home leasing at variable rates. The interest rate for a home lease (every 3 to 6 months) should be variable.

“The big difference is that there is no fixed rate option for leasing on the basis of the product information, so we take the entire interest rate risk.” Consumer leased qualifying loans do not yet exist or play a role in leasing. These new loans offer only a fixed interest rate for at least 3 years, but up to the end of the term.

The fee is also different in the two cases.

When buying apartment:

 

A property tax is payable on the purchase of the property

A property tax is payable on the purchase of the property.

For used homes, the tax is 4% based on the purchase price shown in the purchase. There are several exemptions or reduced rates. Such discounts include purchasing a first home for those under 35, buying a newly built residential property, or paying installments. By default, this rate is 4% of the property’s market value. In the case under review, for a real estate of HUF 25 million, it is HUF 1 million.

There is a discount on new construction, the fee is only payable over the real estate value of HUF 15 million, which is 400 thousand HUF.

There are cases where a 2% surcharge is charged to the lessee as an extra. This is due to the leasing company who is buying the property for resale. Whether the leasing company bears the payment or not, you can decide.

If you need to make a choice if you are interested in a home loan or home lease, we can offer different current loan offers without having to visit several banks. We offer free, convenient, fast, reliable administration, and our credit intermediaries are guaranteed to offer such facilities as banks.

28 Aug

Long-term mortgages are leading the way in home loans

There has been a tremendous change in mortgage lending for 3 years, with a steady decline in fixed-term loans and a significant increase in long-term mortgages.

The public has recognized the change, with a significant proportion of home buyers, 90% of those seeking to have long-term loans of between 5 and 10 up to 15 years. 3 years ago, it was only 30% who chose this interest period. The average loan amount increased by half a million forints in the same period, while interest rates decreased by 0.6 percentage points on average.

 

Bucarest Bank also released the following data in its analysis

Bucarest Bank also released the following data in its analysis

  • the average disbursed loan amount at Bucarest Bank increased from HUF 9.8 million to HUF 10.5 million between January 2016 and July 2018,
  • the average monthly repayment installment during that time fell from $ 25,000 to $ 259.

The mortgage market started to grow again. The low interest rate environment, the rise in real wages and the introduction of the Family Home Creation Discount all boosted demand significantly, while real estate supply increased significantly.

It doesn’t matter which area we are looking at: the financial institution has experienced more than average growth in the districts and suburbs of South Bucarest, where the average loan amount is currently HUF 15 million. The loan amount also increased the maturity, instead of the previous average of 16 years, now it is taken on average for 17 and a half years.

 

Those who are thinking about buying a home can’t wait any longer

Those who are thinking about buying a home can

“Housing market analysts say price increases are slowing and financing costs are also at record lows.”

  • Today’s offer from Granite Bank: HUF 7 million, with a APR of 2.04% over a 15-year term, and a monthly repayment of HUF 44,981
  • BB promises a $ 47,606 installment at 2.13% APR;
  • At OTP Bank, the APR of 2.23% also represents a down payment of HUF 44,949.
  • K&H and ERSTE Bank are following the average of other Hungarian credit institutions. The average interest rate decreased by 0.6 percentage points at the financial institution, and the central bank base rate decreased from January 2016 to February 2018. for the period July to July, it was 0.45 percentage points.

A significant number of customers have recognized and are trying to take advantage of this opportunity.

 

Fixed interest

Fixed interest

According to a new analysis, at the beginning of July 2018, the cheapest fixed-term mortgages of at least 10 years, with a maturity of HUF 10 million and 20 years, were available at a full APR of less than 5%.
There are also significant differences between banks and packages in these designs, so before borrowing, it is advisable to look closely at the multitude of home loans and advise a specialist to review your financial plans.

We would also like to help with the administration, we can offer different current home loan offers without having to visit several banks. We offer free, convenient, fast, reliable administration, and our credit intermediaries are guaranteed to offer such facilities as banks.

31 Jul

144 month loan – paid out quickly

A long term loan is always useful if the loan amount is correspondingly high. For a 144-month loan, it can therefore be assumed that many euros should be lent to the bank in order to put a project into action.

What is a 144 month loan?

What is a 144 month loan?

144 months equal 12 years. Anyone who wants to commit himself to a bank over such a long period of time should know exactly what the money from the 144-month loan should be used for. As a rule, this will be a large loan amount that will most likely exceed the 100,000 euro mark. 

Such large sums of money are especially in demand when real estate is to be purchased or extensively renovated. It would also be conceivable to invest in your own company. Likewise, a rescheduling of an already existing loan, which should be provided by the rescheduling with better conditions.

However, if you have high-level debts and want to repay them with a 144-month loan, you should be careful. Accrued debt that is unmanageable and may have left its mark on the Schufa will not be repayable at this level, even with the help of a loan.

It would be better in such a situation to take advantage of a debt counseling and to take the stony path to bankruptcy. He usually does more than hold on to the debt and wait for a “miracle”.

144 month loan – provider

144 month loan - provider

With a maturity of 12 years, the ranks of providers for the loan will be quite thinned out. Many banks limit themselves to loans with a maximum term of 10 years. Anything beyond that needs to be requested and negotiated separately.

However, there are also banks that have specialized in such large loans. For example, mortgage lenders who provide real estate loans on a much larger scale. And those who are looking for a loan with 144 months maturity, as an entrepreneur knows that this term is not necessarily the maximum term.

In order to find the right provider, the first offer should not be taken lightly. It is worthwhile, with the help of a comparison, to work out different offers, which are then put through their paces.

But you should take your time and do not consider the loan with 144 months duration as instant loan. If you act too fast, you could go wrong and pay dearly with very high additional costs.

144 month loan – tips and tricks

144 month loan - tips and tricks

A good loan offer does not necessarily bring with it the cheapest interest rate. Even though the effective interest rate decides how expensive the loan is in the end. The best offer is rather that which is flexible and adapts to the borrower.

For a long term, it is always important, among other things, that a free debt restructuring after a certain time is agreed. This does not necessarily have to be done, but should be available as an option.

It would also be important to be able to make free unscheduled repayments and early repayment of the loan. At the moment, payment pauses are also very welcome. Usually one per year. These have the advantage that when repaying the loan can also be suspended once without the consequences for the borrower has.

28 Jul

Startup financing: How it’s made tax-effective! – Business Loan

Company founders regularly see themselves after the actual start-up phase before the question of expansion and growth financing. In principle, the start-up has a variety of financing alternatives available that need to be weighed against each other.

Of particular importance in recent times is crowdfunding / crowd investment. In addition to economic and corporate law factors, tax considerations in particular play a key role, which must be taken into account.

Financial action alternatives

Financial action alternatives

Regarding the financing of the underlying business idea, the start-ups have different alternatives for action. Hereby, the basis of any financing decision must not only be the pure financing requirement, but also further strategic decisions have to be considered.

So differences have to be made with regard to

  • the object of financing (resources, R & D, operating costs, etc.) and
  • the amount of funding (contribution of collateral, guarantees, etc.)
  • as well as regarding the possible strategic involvement of investors.

Particularly in the start-up area, the possibility of additional external impact (in particular PR or advertising effect), free attention or even an additional distribution channel (eg crowd funding) plays an important role. For start-up companies, the following financing alternatives are typically available:

1. Debt Financing

1. Debt Financing

Debt capital is often seen as an interesting and start-up financing, as no shares in the shareholder have to be given by the founders, so that the control as well as the actual value of the company remains with the founders.

However, in our experience, this is usually a miscalculation, since promotional banks and state start-up programs in most cases impose extremely rigid conditions, thereby restricting start-up companies in their flexibility and, at the same time, guaranteeing collateral on a regular basis Founders are required.

In particular, because of the self-enforceable guarantees, founders who have invested not only a lot of work in the initial phase, but also mostly their financial savings in their company, quickly get personally into financial calamities.

Debt financing, however, can make sense, especially on a smaller scale. In our opinion, this is the case in particular in cases in which, as a result of already secured equity financing, the directors’ guaranties can be avoided.

2. Equity Financing

2. Equity Financing

In addition to debt financing, equity financing is a typical form of financing for start-ups – especially in the initial phase. However, raising equity capital for young entrepreneurs is the most pleasant way to raise capital.

Be it at the beginning to a small extent through friends and family or later through business angels and institutional partners. However, the influence of investors and the complexity of several shareholders should not be underestimated.

Against this background, founders should formulate a medium-term investment strategy from the outset and consider further financing rounds early in the process. It may make sense to identify alternatives to direct equity participation.

By pooling different shareholders in an ” investment company “, holding shares by trust or a silent participation, in which the investor is not involved in financial decisions on decision-making, complexity can be taken out of the shareholder structure from the beginning.

Cash management, including accessing debt / equity financing, is a highly underrated skill. Done right: invisible. Done wrong: deadly.

3. Crowdfunding / investment

3. Crowdfunding / investment

One form of start-up financing now established in Germany is crowdfunding / investment.

In Crowdfunding (from the English words crowd = quantity and funding = financing), the company sells products or services before completion and delivers the product at a later date to be determined. Thus, the so-called crowdfunder (= lender) grants the start-up an advance on subsequent benefits.

In particular, this financing method can be used to finance start-ups with limited access to traditional equity capital and the cautious provision of capital by lenders, products, and the implementation of equity or equity-related business ideas, usually in the form of partisan loans or silent participations.

When Crowdinvestment there is the possibility, outsiders with small amounts and without large administrative effort bundled to participate in the company. This can be done as a direct or silent participation.

In addition, crowdfunding or crowdfunding financing offers the opportunity to be used as an instrument of market research as well as in connection with product development.

Alternatives of expansion and growth financing

Alternatives of expansion and growth financing

After the successful first phase of a business start-up (so-called seed phase ), the growth phase is started on a regular basis with a successful proof-of-concept-and-market. This begins when the business model has successfully established itself in the market and then the next expansion steps are made.

In the growth phase, the necessary financing amount increases, the value of the company increases and investors measure the success of an existing or potential investment much more clearly in clearly defined key figures than in the seed phase. For example, liquidity planning plays an important role in the growth phase.

Particularly in the growth area, this financing can be supplemented very well with support programs, especially in the area of ​​personnel and resources. Depending on the location and industry, new employees can be promoted, recruited or programs can be used from job creation measures.

It may also support the creation of new jobs or further investment in product development.

Tax challenges

Tax challenges

In addition to the points made in the area of ​​financing, the tax orientation of starting a business also presents a challenge that should not be underestimated. For example, the choice of legal form requires a central tax decision that must be carefully considered and, if necessary, reconciled with the financing structure,

In terms of taxation, for start-ups in the recent past, the form of the mini-GmbH or so-called UG (entrepreneurial company), which represents a corporation, has proven to be a frequently chosen legal form.

Especially for start-ups, the legislator has created a favorable legal form with the UG in terms of start-up costs, which grows into “full GmbH” in later years.

The tax burden of the GmbH or UG results from this

  • corporation tax (15%)
  • plus solidarity surcharge (5.5% of corporation tax)
  • as well as the trade tax (depending on the rate of levy of the community about 14%),

so that regularly results in an effective tax burden of about 30% at the level of society.

It should be noted that in the case of a distribution up to the level of the shareholders of the corporation, there is a (further) tax burden on the distribution.

Founders should consider holding their personal shares in the company via their own holding company in the legal form of a corporation (also regularly a UG), as this may be advantageous for tax purposes in the event of a distribution or even later sale of the investment.

In terms of taxation, debt financing is generally advantageous, as the resulting interest is tax-deductible. Although losses are typically accumulated at company level in the early years, borrowing for tax purposes should be considered in view of future loss carryforwards.

However, with regard to the tax-related use of loss carryforwards, it should be borne in mind that a possible partial or complete loss of the loss carryforwards can be a threat in the case of possible subsequent changes of shareholders.

The above explanations therefore make it clear that the tax orientation of a start-up should be designed as early as possible, taking into account the chosen financing structure, as otherwise adverse effects may arise

Conclusion: The early bird catches the worm

Company founders are already confronted at an early stage with multifaceted financing and taxation challenges.

These can significantly lead to a positive development of the start-up and set favorable conditions for later developments.

It is important to actively deal with these issues in the early start-up phase.