Daily Business Advices

The future of many small and medium enterprises is dependent on funding. And get a loan depends on an appropriate strategy …

It is always advisable that the lending company with more than one financial institution.

This will allow them to have more than one financial provider and not rely on a single entity, with the risks involved. Also, many banks do not like to position itself as a business major financial supporters.

One thing to note, if so, is not having adverse credit history. We must remember that in many countries are published reports of credit risk, which lists all the debtors of the financial system in compliance with patchy and current accounts closed.

There are also private organizations that report on lawsuits or unpaid debts of enterprises.

Pay attention to the adjustment of debts, and once they are regularized providers to inform business reports, try to change the financing structure, giving priority to lines of financing medium and long term, on account of advances current and / or discovered.

Faced with the need for trade finance, such as discounting post-dated checks, invoices, etc.

Having more than double the required lines, and use negotiated sporadically each rate and conditions on each occasion.

From all these points, it is important to highlight the potential role the professional in economics as a liaison between the bank and the company, primarily in the treatment that it accords to all related documentation and information that the employer must carry in your organization.

This service must be agreed that provider clearly. So that is well defined if his or another person in the organization’s work constantly inform each entity to the satisfaction of the state of affairs of the company.

Having the updated financial statements, projected cash flow, good information systems that allow all data provided and / or documentation required by the credit agencies in a timely manner.

Also, maintain a state-ordered tax and social security is increasingly necessary in order to be able to have credit support in the financial system.

The professionalization of the structure of the organization becomes the best way to establish an appropriate relationship with the banks, because every time there is less room for subjective credit decisions.

In short, SMEs, in order to remain competitive over time, should reduce their funding costs and, consequently, to achieve this will have to overcome their own weaknesses.

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