Some Useful Guidelines For Criteria Of Business Capital

During the third quarter of 2016, gross loans increased by 0.8%. In absence of the effect of the peso appreciation on Central American operation, three-month growth would have been 1.1%. This growth resulted from the Colombian operation growing at 0.4% and the Central American operation at 1.7%, growing by 3.1% in dollar terms. The structure of our gross loan portfolio remained stable when compared to the previous quarter. Commercial loans accounted for 59% of our portfolio, while our consumer and mortgage loans accounted for 31% and 9.7% respectively. Loans to individuals, which include consumer mortgage and microcredit loans were 2.1 percent points higher than a year earlier. Colombia accounted for 72% of our loan portfolio, slightly down from 73% three months earlier, and from 75% 12 months ago. The variation in weight of the Central American operation has mainly been due to the Colombian peso fluctuation. We expect 2016 loan growth in absence of FX movement to be around 8% with corporate loans growing at 7% to 8% and loans to individuals growing in the 12% to 14% range.

You should also have copies of your completed tax returns from the past few years in case the lender wants to review your personal income history. And remember, we do not ask for stacks of paperwork and can approve your small business loan in just one hour. For new businesses, banks will be looking for an educated guess on these indicators and documentation to back your estimate up. Outline your loan repayment. Your personal resume. By completing this form you have understood and agreed to our privacy policy.

Have all documents to hand so that you are able to furnish the bank with up-to-date personal and business financial histories: you'll need to provide an acceptable credit score or personal reference, and to go through your latest accounts, tax returns, assets and liability statements There are three questions the bank will ask: How much money you need; i.e. do you need to borrow the full amount or do you have a deposit? There is no cost to apply and you are under no obligation to accept our financing. Figure out your minimum viable production: the smallest number of units you can produce and still make a profit.” Small business loans are the most preferred option for a majority of small businesses. He advises to make sure your business plan includes an executive summary, a business profile, anticipated sales and a marketing plan. Small business grants are allotted according to the size and standard of the business.