Thursday, 14 November, 2019

Get a professional credit without balance sheet, is it possible?


Balance sheets are part of the mandatory elements to provide when applying for a loan, it is a document required by the banks to check the state of health of the company, the banks are particularly attentive to the EBE, the gross operating surplus.

Application for professional credit: balance sheets

Application for professional credit: balance sheets

Balance sheets are essential to a business credit application as they are the only official document that a bank can scrutinize. This is obviously not the only justificatiffournir but it allows to justify the application for professional credit and especially its obtaining. Several information can be extracted from the balance sheet, such as working capital, working capital requirements and the balance between the two, which gives a good indication of the financial health of the company. Balance sheets also make it possible to study the durability of the activity and its evolution over time.

Banks and other professional financing organizations will mostly stop at the EBE, which is a strong indicator for the acceptance of a loan, it is simply the gross surplus of holdings. It corresponds to the resources released after payment of staff costs but before depreciation allowances.

Get a business loan without providing a balance sheet: how?

Get a business loan without providing a balance sheet: how?

No bank or credit institution will provide funding without providing a balance sheet, however it is possible to apply for funding to get an idea of ​​current loan conditions and this simulation does not require any documentation. The personal loan simulation simply makes it possible to receive several offers from professional financing organizations and to be able to compare offers of credit. This is done for free and without any obligation of commitment for the applicant.

The analysis and study of the offers that will be sent will allow to take the temperature, to compare the requirements of the banks but also and especially the proposed rates. The amortization of the credit for a company is done over 7 years, it is necessary to define well the necessary amount and to justify its use, that it is as part of a support of activity, the development of the company or quite simply to deal with a seasonal period. Only when the entrepreneur wishes to file a file with the selected bank will it have to provide supporting documents including balance sheets.

The determining factors for a professional loan

The provision of balance sheets is certainly a requirement of the banks, but this does not guarantee the acceptance of the financing file. Other elements and in particular guarantees may be requested from the manager, either a simple deposit or a joint guarantee. It is only the study in its entirety of the demand for professional credit that can validate the release of funds. Note that most financial institutions require on average the last two balance sheets, if it is a business creation, then it will provide a business plan with the prospects for development and development of the company . Requests for a creative may take a little longer than a typical request from an existing company.