Whether it is to create (or take over) a construction company or whether it is to finance a development need or cash, it is important to seek the right financial organization for your professional loan.
Professional credit and construction company
It is not always easy to develop the activity of a company working in the construction industry, especially when the investments are significant. The purchase of machine tools, transport vehicles or materials can quickly become a problem when the company does not have the necessary funds to be able to ensure self-financing. It is necessary to be able to develop an activity without compromising the financial health of the construction company, it is for this reason that entrepreneurs will request a business loan, whether they are artisans or underform of company.
The business loan is a loan granted by banks to finance all types of needs, whether to finance a cash, assist a company in its development or support an entrepreneur in the creation or resumption of activity in the construction. The conditions of access to credit are however subject to conditions imposed by the banks, it is therefore important to be aware of the main lines of these conditions but also to take appropriate steps to maximize your chances of obtaining a professional loan.
The conditions of the professional loan for the construction industry
Most of the professional loan offers will extend over a maximum period of 7 years and the amount will be a maximum of 75,000 dollars. These loans do not however relate to the acquisition of commercial premises or offices, it is necessary to turn to the mortgage. It is important when applying for a loan to make a contribution, the major part of professional loans will finance between 80% and 90% of the business need, the rest being supplemented by cash or a personal fund. of the entrepreneur.
Obtaining credit will generally be accompanied by a guarantee, in the form of a bond. The idea is to reassure the bank on the reimbursement of amounts due. Note, however, that the deposit can also be set up on a personal basis, with a guarantee provided by the manager for example. Different elements will be taken into account to qualify the solvency of the company and the conditions of the bank will be more or less demanding. The company should ideally provide the last two balance sheets to allow the bank to carry out its study.