On average, from three months to a year
Posted: Sun Jan 19, 2025 10:20 am
Approval time. The main difference between a revolving loan and others is the ability to more easily justify the reasons for financing. As a rule, you do not need to report on expenses. However, in some cases, the bank may request additional reports.
Amount and rate. They are always individual. The amount uganda telegram database depends on the business turnover and its reliability. The interest rate depends on the key rate, financing volumes and credit history. In most cases, it is higher than the rates on regular loans or overdrafts.
Moreover, banks usually set limits, for example, not less than 200 thousand rubles and not more than 10 million. There may also be such a situation: an entrepreneur requested 500 thousand rubles, and he was approved for 800 thousand or more. But he can only take 500 thousand rubles of this amount. In addition, some organizations offer special conditions for certain categories of businesses. For example, we support sellers on marketplaces and lower rates for them.
Purpose of issue. To issue a working capital loan, the bank does not need to know what exactly the entrepreneur will spend the funds on. Business plans do not need to be provided.
Without collateral. If the bank is confident in the profitability of the business, it will approve financing without collateral. However, small entrepreneurs with a small or unstable turnover should be prepared to request financial security or a guarantee. For LLCs, a guarantee is almost always required.
Amount and rate. They are always individual. The amount uganda telegram database depends on the business turnover and its reliability. The interest rate depends on the key rate, financing volumes and credit history. In most cases, it is higher than the rates on regular loans or overdrafts.
Moreover, banks usually set limits, for example, not less than 200 thousand rubles and not more than 10 million. There may also be such a situation: an entrepreneur requested 500 thousand rubles, and he was approved for 800 thousand or more. But he can only take 500 thousand rubles of this amount. In addition, some organizations offer special conditions for certain categories of businesses. For example, we support sellers on marketplaces and lower rates for them.
Purpose of issue. To issue a working capital loan, the bank does not need to know what exactly the entrepreneur will spend the funds on. Business plans do not need to be provided.
Without collateral. If the bank is confident in the profitability of the business, it will approve financing without collateral. However, small entrepreneurs with a small or unstable turnover should be prepared to request financial security or a guarantee. For LLCs, a guarantee is almost always required.