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How do small businesses choose loans?

Time: 2016-09-23         Source: Oriental Morning Post         Author: Oriental Morning Post

How do small businesses choose loans? Boss, who is engaged in food business in Shanghai, currently has three facades in the Zhoupu Small Shanghai business district. Recently, due to the short supply of liquidity, Liu Boss wanted to seek loan assistance. Originally thought that the types and duration of loans are the same. When I heard that Tyrone Bank has a wide variety of loans, the term can be divided into 3 months, 6 months, 9 months, 12 months, and can be guaranteed with the loan. When the method was very flexible, Liu Bo was very surprised and thanked himself for finding the right type of loan.

From the above case, the experts of Tailong Bank suggested that small business owners who want to apply for loans should choose the type of loan that suits them according to their own nature of the industry and their own repayment terms. Choose loans based on the nature of the industry. The food business industry, such as Liu Boss, is the best-selling period of food every year on holidays and around the Spring Festival. Therefore, he has more time to purchase goods, and the funds are returned faster, which is more suitable for short-term loans of 3-6 months. However, if it is a small business owner engaged in the stone business, due to the long construction time and complicated project follow-up procedures, the funds are returned slowly, and the longer-term loans are more in line with their needs.

Then how to consider the characteristics of the industry, the right to find loans?

First, you need to consider the loan of the company itself. Some small businesses are small in scale, have few fixed assets, and have insufficient effective collateral. However, they can provide effective guarantee methods and guarantors. They can choose banks that do not need to provide collateral to conduct “unsecured” loans. Some small enterprises may choose to use loans such as Tailong Bank, which can use the guarantee methods of “multi-person guarantee”, “auxiliary guarantee” and credit guarantee, because the loan guarantee is difficult. For small businesses with certain fixed assets and effective collateral, it is more feasible to apply for mortgage guarantees from banks.

Second, choose loans based on different loan products of the bank. In choiceBank loanWhen the product is in use, the small business owner may wish to target different loan requirements, loan terms, and various loan products.RepaymentInterest rate fluctuations, more understanding, more analysis, choose the loan products that are beneficial to them. Other financial institutions that focus on small business financial services have also created some loan products for small business owners. For example, the case of Tailong Bank, in order to meet the needs of small and micro enterprises financial services, expand the financing channels of small and micro enterprises, in the loan business, bank card business,Financial managementThe business and other aspects actively explored and innovated, and launched special products for small business loans such as “melt e-loan”, “complete lending and zero repayment”, and “e-commerce lending”.

The relevant person in charge of the Shanghai branch of Tyrone Bank said that for the small-sized enterprises to engage in different industries, the loan demand and loan methods are not the same. Tyrone Bank will insist on differentiated products and tailor-made for small enterprises. A variety of financial products with different time limits and different quotas are committed to providing more convenient, efficient and high-quality services for small and micro customers.

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