Nowadays, business loans through banks are complicated to obtain, since apart from the reduction they have carried out in their business loans, they also put more difficulties for SMEs and entrepreneurs because of the risk that they may entail Your operations
Therefore, companies have no choice but to seek alternative financing from banks that allows them to obtain business credits and thus be able to continue with their activity.
Loans for non-bank businesses: alternatives
Until relatively recently, when a company needed financing, it automatically went to a bank to obtain loans for business, but currently the financing market is changing: financing alternatives are emerging that allow to obtain credits for business without going through the bank. These are the well-known online credits that offer a multitude of variants at the same time.
Some of the options to get business credits without going to a financial institution are:
Loans for miniature companies: microcredits
They are loans for businesses with a maximum amount of € 25,000, whose objective is to finance people who prove they have no guarantees, nor can they get them.
These types of business loans have better conditions for borrowers, in most cases there are no commissions and interest rates lower than those of the market.
Its purpose is to fight against the financial exclusion that many companies go through, especially freelancers and entrepreneurs, who seek to create a business and because of their characteristics cannot access other types of financing for companies.
These loans for businesses are managed by savings banks together with city councils and public organizations.
Business loans through grants and subsidies
Companies cannot make their financing subject to the granting of aid and subsidies by public bodies and other entities.
Grants are not easy to obtain and it can take a long time from your application to your grant, so they should be interpreted as a support to part of business loans. One should not think about dealing with the financing that is needed only through such a subsidy or help.