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5 keys an SME should consider when applying for a loan

5 keys an SME should consider when applying for a loan

The second and malicious wave of the Coronavirus has generated a new environment of anxiety for small and medium-sized businesses that were already complex in their economic situation. However, credit becomes an essential tool for achieving growth and development of companies Accessing financing lines can become an adventure when it comes to a small or medium-sized company.

Made with expert eyes, from Credit Analysis District of Banco Provincia, Share a guide 5 steps for companies to know the requirements and organize the documents required by the entity In order to update everything and give credit as quickly as possible. Although the information corresponds to a specific banking entity, the requirements are extrapolated to the rest of the entities.

that’s it Key guidelines that SMEs must observe in accessing finance And don’t fail to try:

  1. Companies must have true Compliance with the financial system (Credit Score) with your timely paid obligations.
  2. The information on the documents to be submitted is managed directly with the bank and the brokers are not necessary. It is important to note that the documents to be submitted are related to Balance sheet, sales details, debt, and legal aspects, Which must be updated in order to progress.
  3. It is important for small and medium businesses to be able to present the flow of funds that briefly describe their future prospects for Sales volume and expected result, In order to measure The ability to repay From credit.
  4. It is important for small and medium businesses to request an amount A loan according to your real needs Of financing, because if it is overstated, it may lead to a refusal to grant credit or an unnecessary increase in the financial expenses of the SME.
  5. For the commercial area Reciprocity that can be provided by small and medium enterprisesThat is, employees can be paid salaries or contracted for products and services, such as insurance and ART, among others.
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Buenos Aires grants nurse loans of up to $ 100,000, in 48 installments, at a rate of 29%.

According to a report from the entity’s credit analysis area, loan granting to be lean The key is that companies not only know what they need the loan for but also what key requirements the bank requiresThis is to avoid delays and for funds to arrive as soon as possible.

“It is necessary, before starting, to be clear from the start what will be Destination Of the loan, ”says Banco Provincia’s specialists in compiling credit files. Depending on the needs of SMEs and their ability to repay, financing lines can be directed to them. Expand production capacity, build up The best business deals With suppliers or taking advantage of them Jobs, Among other destinations.

100% digital loan for small and medium businesses

The bank that directs Juan Quattromo Long weeks ago launched the possibility Take the loan in 100% digital form.

This is a 100% working capital loan line for SMEs processed online by BIP Empresas Online Banking. As they aptly noted, “The new funding is part of the RePyme program, and it has a special flat rate of 28.5% annually and a term of up to 12 months. In April the entity also included electronic credit invoice management to streamline processes. Businesses and digital businesses,” they explained.

What is an electronic credit bill, who can access it, and how to deal with it

Online credits are for working capital and are already available through the BIP Empresas platform. They said from the bank: “In just a few minutes, SMEs can manage their own online credit assistance and also with a special advantage, since this method has a fixed differential rate of 28.5% per annum.”

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It should be noted that the current offer of loans for the small and medium-sized enterprise segment is divided into two large groups:

  • Business development or working capital loans, Which could be for purchasing raw materials, checking discounts and foreign trade operations, among others.
  • Assistance with investment creditLargely directed at the acquisition of capital goods, new or used.


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