15 loans for entrepreneurs that you should know

Have you required a loan for entrepreneurs? Not all business ideas are easy to start. Sometimes a source of financing is required to give us that push that our company needs to start or consolidate.

If you are looking for support for entrepreneurs, here we tell you about credits for SMEs specially developed to give you the boost your brand needs. Whether to start operating, to survive the first months of life, to get stronger or to get out of a bad moment, these loans for entrepreneurs are here to help you. Do you want to meet them?

Loan for entrepreneurs or credit for entrepreneurs?

Before getting into the matter, it is worth taking a moment to distinguish between each of these financial products.

What is a loan for entrepreneurs?

A loan for entrepreneurs is a financial operation in which a person or entity grants, through a contract, a certain amount of money to a natural or legal person with the obligation to repay it within a certain period.

What is a credit for entrepreneurs?

A credit for entrepreneurs is an amount of money, with a fixed limit, that a person or entity makes available to a natural or legal person.

What is the difference between a loan for entrepreneurs and a credit for entrepreneurs?

The difference between a loan and a credit is that while in a loan, the delivery of the asset is made in a single movement, the credit can be delivered in installments or at the request of the client. In addition, the interests are handled differently, since the interests of the loans are usually lower than those of a credit.

How do I know which one I need?

Depending on what you need to finance, it will be the product that you should request. If you need to finance the acquisition of specific goods or services (such as the purchase of raw materials for your business, machinery, supplies, etc.), a loan is ideal, since the interest will not be as high as that of a loan.

On the contrary, if you need to cover gaps between collections and payments to suppliers or you are going through a period of lack of liquidity, perhaps a loan is the solution for you. It all depends on the clauses and the benefits of the financial product you hire.

Who grants loans for entrepreneurs?

If you are looking for someone to lend money to start a business, you should know that there are multiple solutions to obtain support for entrepreneurs. Here I list some of the best known:

  • banking institutions,
  • financial institutions,
  • savings banks,
  • government agencies,
  • non-governmental organizations.

How to get a loan for entrepreneurs?

Although each institution or financial entity is different, there are various methods to obtain a loan for entrepreneurs. Here I list some of the elements that you should take into account if you want to obtain financing for SMEs.

  • Make sure you have your company documents in order.
  • Prepare the RFC of your company, as well as the Constitutive Act.
  • Avoid having a bad history in the Credit Bureau.
  • Prepare a business project (in case you are asked what you plan to use the amount you request).
  • Meet the requirements that are requested of you.
See also  Organic positioning techniques for e-commerce

Requirements for loans for entrepreneurs

Although each entity has its own rules, the requirements for loans for entrepreneurs are usually similar. These are some of the basic elements that may be requested:

  • Official photo identification (INE, Passport, etc.),
  • CURP,
  • RFC registered with the SAT,
  • Proof of address,
  • One or two solidary obligors,
  • Credit application signed and stamped by the financial institution.

Before submitting your application, make sure you have read all the requirements of the credit or loan you wish to obtain. This will avoid you going back and forth, as well as lengthening the process of your application.

🚨 Be careful!: Before providing your personal data, ask about the treatment that will be given to your personal data. They are sensitive and high-value items that must be properly guarded.

Loans for government entrepreneurs

On previous occasions, we have already talked about the different types of government support that exist to start a business. If you want to read in detail about these financings for entrepreneurs.

I will only mention some that you should know and that can be very helpful:

FUNDING

The FONDESO or Social Development Fund has eight types of financing that you can apply for, aimed at entrepreneurs, micro, small and medium-sized companies, for strategic projects, among many more. If you are interested in processing a business loan through this trust, .

NAFIN

Nacional Financiera is another institution that offers financing for entrepreneurs, having in its offer eight programs aimed at providing support for SMEs, depending on the need you have. Some of them are:

  • NAFIN impulse + States,
  • Business Financing,
  • RIF Women – Grow Together,
  • Micro and Small Carrier Company,
  • NAFIN Credit Factory,
  • Bonds for SMEs,
  • CSolar Financing,
  • Replacement of Mexico City Taxis.

Depending on the program you choose, they can grant you from 300,000 pesos (with the Mujeres RIF – Crezcamos Juntas program) to 30 million pesos (with the Bail bonds for SMEs program). and learn more about the financing for entrepreneurs that they have available.

Take note…

Article

Loans for entrepreneurs from banking institutions

If government SME loans are not your thing and you trust your bank, you should know that there are financial products designed to give you the support your business needs. Now I will tell you about five financial entities that have products specifically designed for entrepreneurs.

Banamex business credit

The Banamex Business Credit has three modalities: as an installment loan, as a revolving line of credit or a hybrid choosing part of the simple modality and part of the line of credit. Among the requirements that you must meet to apply for this credit is being registered with the Treasury, in addition to 4 years of operation. Depending on the product you choose, the average CAT varies from 16.7% to 22%. If you are interested, you can get .

See also  How to do Christmas promotions for your online business

BBVA credits

BBVA has a line of financial products designed for SMEs, in the short and long term. You can apply for any of the following four credits for entrepreneurs:

  • SME Credit,
  • liquid credit,
  • POS Billing Advance,
  • Simple SME Credit.

Some of these supports are available in national currency and US dollars, others give you the benefit of a fixed interest rate of 0% and you can obtain from 50 thousand pesos to 15 million pesos. Learn about the features of .

Banorte Credit

With the SME Circle, Banorte makes available to businesses, loans for SMEs and various financial products with the purpose of supporting Mexican brands, I present them to you:

  • Crediactive Checking Account,
  • simple crediactive,
  • microsupport,
  • Business Push Credit,
  • Credit Businesses and Companies,
  • Your Credit Online.

You can request from 30 thousand pesos (with Microapoyo) to 24 million pesos (with Crediactivo). Depending on the product to be contracted, you must present financial statements of your business, as well as real estate as collateral. It is worth taking a look at each of the credits.

Azteca Bank

In addition to its special banking for companies, Banco Azteca has a loan for SMEs designed so that your business can grow. It is possible to request from 12 thousand to 300 thousand pesos, although if you are a new client, the maximum amount to request is reduced to 150 thousand. One aspect to consider is that the average CAT is 71.4%. If you decide that this is your option, I recommend that you give the requirements (and especially the fine print) a good review.

let’s share bank

Within the Compartamos Banco products, there is the Merchant Credit that can grant you from 6 thousand to 60 thousand pesos. Among the benefits that this loan for entrepreneurs has is the possibility of obtaining an additional credit to it, without commission for opening and administration. Although be careful, because the fixed annual interest rate in biweekly terms is 93.2% before taxes. Take a look at the small letters and make sure that it is indeed your option. to go to your website.

Learn more…

Article

Loans for fintech entrepreneurs

If the banks do not give you the solution you are looking for, fintech can be that ace up your sleeve that you need to win the poker hand. A fintech is a company dedicated to offering financial products and services through digital platforms, increasingly strengthened and preferred by users, due to the flexibility they have and the innovative proposals they make through their services that end up being more attractive or less being the alternative for thousands of users tired of the options offered by banks.

See also  Newsletter: what it is and how to make your company's

If you prefer to manage your credit for SMEs with a fintech, these eight financial companies grant business loans that you should consider.

Konfio

In Konfío you can obtain a loan for SMEs from 100 thousand to 3 million pesos, all 100% online and without the need for endorsements or guarantees. Of course, you require an RFC registered with the Treasury, either under the regime of Physical Person with Business Activity or Legal Person, in addition to six months of billing to be a candidate for financing. The average CAT can vary from 32.4% to 36.8% depending on the product you choose. .

Payment Market

If you already have a Mercado Pago account, you can apply for a loan for your business, in one of two ways:

  • Loan in Fixed Installments
  • Money Plus

The first financial product can lend you up to 4 million pesos while the second has a limit of 250 thousand pesos. To request them, you need to sell more than 500 pesos a month in Mercado Libre or in Mercado Pago, have a good payment behavior and a good reputation if you sell in Mercado Libre. Check out more about .

Learn more…

Article

Xepelin

If you need to advance the payment of your invoices, Xepelin gives you the option of financing the amount of the collection from the day the invoice is generated until the client pays you. You can get your credit approved in less than 24 hours by simply registering on the platform and having your SAT CIEC Query Key. Learn more about .

I’ll pay soon

With ProntoPago you can advance invoices with payment dates of more than sixty days, eliminating problems related to cash flow. To be a candidate for this solution, your company must have been in operation for more than a year, be a formally constituted company, and connect ProntoPago with the SAT. Explore more about the benefits of .

affluent

At Afluenta you can request a loan for SMEs of up to 300 thousand pesos with terms of up to 48 months. To apply, you need to show a…

Loading Facebook Comments ...
Loading Disqus Comments ...