250 line of credit options for small businesses

The tool available on the entity’s portal contains funding from 35 financial institutions

Sebrae has brought together in one place more than 250 credit line options from 35 financial institutions on the market, public and private. The instrument Sebrae collection of lines of credit aims to support the identification of the possibilities best suited to the needs of the small business, as well as designing the ability to pay the installments, ensuring good business management.

Through the catalog you can analyze the wide variety of credit options, have access to Sebrae simulators and calculators, and secure multiple inputs that support your decision making when comparing rates, grace periods and other information related to each credit line.

“Comparing data and having information on each line of credit is essential. With this practice, the entrepreneur will be better prepared to make strategic financial decisions, ensuring a prosperous future for his company,” says Ellen Cristina Bonfim, capitalization and services analyst financial.

The analyst recalls that there are various situations in which the request for credit can bring great benefits to companies, with rapid and effective returns. They are: the exchange of high-interest debt; expansion of working capital; cash flow balance; and business expansion.

“This money will allow us to solve concrete problems and make strategic investments in the company,” he commented.

Five steps before applying for credit

1. Identify your need for credit

It is important to have a clear understanding of the value of the financing and the purpose of the intended resource. Do you need to purchase machinery, equipment, raw materials or carry out a renovation? Depending on your needs, there is a more suitable line of credit.

2. Search for the different lines available

Identify the most suitable lines of credit and compare them. Compare limits, grace periods, interest rates and other costs. Access Sebrae collection of lines of credit and look for the most advantageous line of credit.

3. Check if you have any kind of registration restrictions

To obtain credit it is important not to have any type of constraints: late taxes, debts with a finance company or even water, electricity or telephone bills. If you experience any of these problems, fix it first, as it will be very difficult to get credit under these conditions.

4. Identify what guarantees you can offer

Check what type of collateral you have and whether it is sufficient for the amount you need. Vehicles, properties, guarantors and even part of the machinery financing can be given as collateral.

5. Prepare your credit proposal

Gather the information and documents from steps 1, 2 and 3. Organize everything and put your proposal together. This way you will be better prepared for negotiations to obtain credit.

Source: Sebrae Agency

Source: Terra

Rose

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