The credit expert lists five tips for saving on loan interest rates
The end of the year is the time for companies to address financial needs specific to the period, such as the payment of the 13th month salary, salaries of temporary employees, tax obligations, among others. This has a direct impact on cash flow and failure to comply with these regulations can become a problem for the long-term sustainability of the company. Therefore, in times of difficulty, applying for credit strategically can be an excellent alternative to stay up to date.
Although Brazilian families have reduced their search for credit in the last year, as indicated by a Serasa survey, many companies are also participating in this movement: while credit to individuals decreased by 0.4% in June , a growth of 1.0 was recorded. % on credit intended for legal entities, according to Central Bank data.
Regardless of who the borrower is and the type of loan, it is important to check how to save on interest rates and find the best options available from banks, fintechs and financial agents. Thinking of simplifying the credit application, specialist Sacha Aprile, CFA and Director of Operations at Crediblue, has prepared some tips below.
Conduct a financial assessment
The first step before applying for credit is to carry out a financial self-analysis, both for a natural person and for a legal entity. Aprile explains that this is necessary to understand the moment you are experiencing and know the type of loan you should take advantage of. A financial assessment must consider budget flows, economic indicators and current needs.
“Through this assessment, the borrower can discover the amounts he needs, as well as define which type of operation is best suited to the current situation,” adds Aprile.
In the case of companies that intend to grant credit, an in-depth analysis of cash flows is necessary. “Many businesses need to use the credit to pay 13th tax to their employees, ease their cash flow and seek resources for other tax operations. For this reason, financial analysis should be the first step before applying for future loans,” explains Sasha.
Plan your payment capacity
Before applying for credit from financial agents, plan your or your company’s ability to repay the loan. This way you can understand the best deadlines and the amounts that fit into your monthly budget, generating a safe action plan, without the risk of future delays.
“The loan must first of all adapt to the reality of the applicant. This calculation of time, installments and interest must be individualized; otherwise, the credit can turn into an unpayable debt, due to high interest rates. Using this strategy can save the applicant on interest rates, but caution and in-depth study are required to avoid tightening the budget and losing control,” continues the CFA.
Search for financial advisors
Through financial advisors it is possible to carry out a more in-depth financial analysis and understand different scenarios that can help applicants with their future needs, both during the loan application and during the financial year.
I am able to carry out a complete market assessment according to each person’s reality, providing insights into the best payment methods, what is the ideal term for repaying loans, which bank or finance company the applicant should choose, as well as making a structural plan for payments.
Turn to fintechs
With extensive market growth and stability, financial agents and fintechs represent relevant alternatives for those who want to escape the high interest rates of traditional banks. They have become a preference among the Brazilian population, since their assessments for granting loans are carried out precisely, adapting and personalizing the operation according to the profile, reality and needs of the applicants.
Look for alternatives
Loans with real estate guarantees have been a good alternative for those who want to obtain credit: this is the case of home equity, a method in which the borrower offers a property as collateral.
The lower interest rates offered by correspondent banks are a major attraction for MSMEs, PJs and individuals. “This allows us to offer one of the lowest rates in the country and the most appropriate payment terms. This allows customers to have the security of paying off their debts and great opportunities to close a deal,” explains Aprile.
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Source: Terra
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