An economy like the present one depends fundamentally on consumption . The Central Banks have liquidity thanks to low interest, which gives us the opportunity to contract several types of loans based on our needs and with very few guarantees required. After the period of forced austerity that began in 2008-2009 until 2014, economic activity is reactivating and now it is easy to access different banking products, including online loans .
The personal loan is usually linked to some type of important transaction , such as the acquisition of a place, farm, vehicle or the transfer of a business, in the case of natural persons. In this circumstance, high guarantees – normally a property – or bank deposits of a certain solvency will be required. Depending on the entity, you can also ask for some type of business plan, although that is more common for the financing of companies.
FINANCING FOR COMPANIES
It can be achieved by various formulas . One of them is the credit policy, which allows a cushion of liquidity in exchange for the payment of interest. They usually ask for the deeds of the company and, depending on the case, the income statement before the Mercantile Registry. In other cases – and linked to the purchase of capital goods – loans can also be granted to companies , both by banks and state entities, with the Official Credit Institute (ICO) being one of the alternatives to be considered.
THE MORTGAGE LOAN
The mortgage loan is usually the most important one that we acquire in our life . Although Spanish legislation has limited its duration – which previously could reach 40 years quietly – the average is in the 22 years to liquidate it. Although the conditions for granting it have been tightened, a mortgage loan can be obtained as long as indefinite payrolls with a certain level of income are attached (in the case of employed workers). The self-employed, in as much, must accredit a level of income through the declarations of KAJAand the NIMFA, as well as goods with which they can respond.
THE CONSUMER LOAN
The consumer loan is an increasingly widespread modality. In recent years, financial institutions have offered it again thanks to the recovery of economic activity. It consists of the provision of an extra amount of money for those people who have their account domiciled and for which no additional guarantees are requested. The counterpart is that the interests are higher than in other cases. Variants of this modality are the fast loan and the online loan.
THE PARTICIPATORY LOAN
The participative loan is an intermediate solution conceived for freelancers and companies , which serves to combine the lender and the borrower with adjusted interests and benefits for both parties . It consists of establishing a fixed interest and another variable, depending on the company’s profits. Regulated in 2012 and is a figure that is making its way little by little in the Spanish credit market.
If you are thinking of requesting any of these banking products , it only remains to define which one best meets your needs and what requirements you must meet to access it. Also keep in mind that each of these variants also has an online loan modality , much faster, more flexible and as reliable as traditional banking has been for years.