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How to choose a small business loans?

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

How to choose a small business loans? Liu, who runs a food business in Shanghai, currently owns 3 facades in the small Shanghai business district of Zhoupu. Recently, due to purchase soon, liquidity shortage, Liu boss wanted to seek loans to help. Originally thought that the types of loans and deadlines are the same, when I heard that the Bank of Tyrone's rich loan types, the deadline can be divided into 3 months, 6 months, 9 months, 12 months, and with the loan with the return, guarantee When the way is very flexible and diverse, Liu boss was very surprised, glad I found a suitable type of loan.

From the above example, TPL experts suggest that small business owners who want to apply for a loan should choose the loan type that suits their needs according to the nature of their industry and their own repayment conditions. Choose a loan based on the nature of your industry. Such as Liu boss engaged in the food business, annual holidays and before and after the Spring Festival is the best-selling food, so he stockpiles stocking more time, funds return faster, more suitable for 3-6 months of short-term loans. However, in the case of small business owners engaged in stone business, due to the relatively long construction period, complicated project follow-up procedures and slow capital withdrawal, loans with longer maturities are more suitable to their needs.

How to consider the characteristics of the industry, the number of loans?

First, you need to consider the loans of your own company. Some small-scale enterprises, small fixed assets, lack of effective collateral, but can provide effective security and guarantors, you can choose not to provide collateral for the bank "unsecured" loans. Some small businesses can not afford a loan guarantee because they can choose to borrow from a bank such as Bank One that can use "multi-person guarantee", "supplementary guarantee" and credit guarantee. For small businesses that have certain fixed assets and effective collateral, it is also more feasible to apply for a mortgage guarantee from a bank.

Second, choose a loan based on the bank's different loan products. In the choiceBank loanProducts, small business owners may wish to target different types of loan products, loan requirements, loan deadline,Repayment, More understanding of the floating rate of interest, more analysis, choose their own favorable loan products. Other financial institutions specializing in small business financial services also tailored some loan products to small business owners. For example, in the case of Tyrone Bank, to meet the financial needs of small and micro enterprises to broaden the financing channels for small and micro enterprises in the loan business, bank card business,Money managementBusiness and other aspects of active exploration and constant innovation, launched the "financial e loans," "whole debt zero return", "electricity supplier loans" and other small business loans Featured products.

The relevant person in charge of the Shanghai branch of Tyrone Bank said that in view of the different nature of the industry engaged in by small businesses and the demand for loans such as loan terms and loan methods, the Bank will adhere to the differentiated product set-up and provide tailored services to small enterprises Different time limits, different amount of a variety of financial products, is committed to providing more convenient for small and micro-efficient, high-quality service.

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