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Currently, most entrepreneurs use various types of loans and credits. Thanks to them, they can obtain additional financing for the implementation of various objectives, both long-term ones, for example for investments, as well as support ongoing operations.
External financing in the form of company loans allows companies to raise funds for any purpose, as opposed to loans that are purposeful. Thus, a company loan allows you to finance such company expenses as:
– stocking the store
– purchase of equipment
– payment of employees’ salaries
– payment of taxes and contributions
– settlement of bills
– payment of overdue invoices
– buying insurance for the company
– software order
– using the services
– buying a car
These are just a few examples because corporate loans allow you to finance a lot of other expenses related to running a business.
For a long time, the company loans could only be taken out of the branches, ie stationary – now you can do it online. What exactly are online loans and where can you apply for them? What amounts can we get them? What conditions must be met? We invite you to familiarize yourself with our guide, thanks to which finding the best company loan online will be even easier!
– On-line corporate loan – basic information
– Where can you get a company loan over the internet?
– What conditions must be met to receive an online loan for the company?
– Business loans via the Internet also for new companies
– On-line corporate loan – step by step
On-line corporate loan – basic information
Let’s start with the basic information about corporate loans available online, which should be known to every lender thinking about using this type of offer.
Corporate loans, as we mentioned earlier, allow you to raise money for any purpose. We do not have to indicate what we want to spend them on. In combination with the possibility of obtaining such financing via the Internet, every entrepreneur can get a convenient financial tool to help him in cases when there is no money for various expenses.
At present, internet loans are very popular among both individual customers as well as business customers – people who run sole proprietorships, companies in various forms. What are the most important benefits of this type of offers?
Advantages of internet loans:
– accessible via the Internet – without leaving your company or your home
– very fast – you can get money even in one hour, so they are available when they are needed most
– convenient inference – everything can be done online
– reasonable requirements – online loans can be obtained without providing a number of documents
– many offers to choose from – currently at both banks and non-bank lending companies
All these advantages make Internet loans, including those addressed to a business, very popular and chosen by many entrepreneurs.
How much can we borrow?
Cash loans available to companies via the Internet allow you to obtain different amounts – from 100 zlotys to even over 100,000 zlotys depending on the type of lender we deal with.
Most often, however, business loans over the internet amount to approximately PLN 10,000, which allows obtaining funds for almost every entrepreneur without providing additional documentation.
We can take loans up to PLN 10,000 via the Internet, both at banks and non-bank loan companies. Those for higher sums of up to several hundred thousand zlotys are available mainly in banks and for regular, trusted clients, so no entrepreneur can afford it.
It is worth noting that the maximum amount of the company loan is also conditioned in this case by the customer’s creditworthiness. If it is assessed as low, then the loan will also be for a smaller sum. However, when the customer has a high capacity, he can borrow more.
Banks and non-bank loan companies take various criteria into account when determining the creditworthiness of their clients, which is why each lender can offer us a different sum.
The repayment period of a company loan concluded online is also individual and depends on the offer we deal with.
In general, online loans are available for a period of 2 years, but sometimes a company may sign a contract for a longer period.
Loans are offered as installments, therefore the debt is paid in the form of equal or decreasing installments at monthly intervals. This allows you to easily settle even larger liabilities in companies achieving lower profits.
It is worth noting that if for a loan of the same amount we extend the repayment period, the installments will be lower and thus easier to repay. At the same time, however, the cost of the loan will increase, so in general, we will give the lender more money.
Shortening the repayment period reduces the loan costs, but also increases the amount of the installment, which may be more difficult to regulate. In addition, the company must also have adequate creditworthiness at that time.
To choose the most favorable installment, you can use the calculators on the websites of the lenders. At Burke, we have also prepared a special calculator that allows our clients to calculate the most convenient online loan offer for them.
Where can you get a company loan over the internet?
Currently, corporate loans over the Internet are offered by banks as well as by non-banking loan companies. In these institutions, entrepreneurs can obtain financing without the need to go to the facility because everything can be done online at that time.
Today, banks and non-bank lending companies compete with each other for offers and it is worth getting acquainted with them in order to obtain the most advantageous form of financing. It is worth pointing out that the choice of the lender also affects such issues as:
– conditions to be met
– speed of obtaining a loan
– borrowing costs
– loan security
In general, when it comes to conditions to be met, they are more beneficial in non-bank loan companies than in banks. We deal with the terms related to on-line loans for companies below.
The issue of speed is quite individual because an instant loan in banks can get their regular customers, but as a new client, the formalities can take us more time. Quite quickly, we will get a non-bank loan – often within one hour.
When it comes to borrowing costs, they are also an individual matter. It has been assumed that non-bank loans are more expensive, but currently, we can find cheaper offers among them than in banks. It is therefore worth taking the time to compare the costs so that it does not turn out that the loan in the bank will be more expensive than the non-bank loan.
We can not also forget about one more important issue, namely the security of the loan. In this case, too, many false myths have arisen around non-bank loans that are considered riskier. In reality, however, they can be as secure as banking ones – they are granted on convenient, transparent terms.
However, it is always a good idea to check the lender to make sure that we choose a good offer for us. On the internet, you can now read more about the opinions on various loan offers for companies. If positive opinions prevail, the offer should be a good choice.
It is also worth paying attention to information on the websites of loan companies and banks. If necessary, we can also consult experts, such as an attorney or legal counsel.
What conditions must be met to receive an online loan for the company?
Obtaining a company loan over the internet does not mean that the entrepreneur has to meet the excessive requirements. Loans of this type are aimed at fast financial support for entrepreneurs, therefore they are also characterized by low requirements, which translates into their easy availability.
As we noted earlier, the terms of online loans for companies may differ from each other, therefore below we present a cross-section of conditions to be met. This does not mean that all of them have to be met in any loan company or bank.
Conditions for the company to meet when applying for an online loan:
– economic activity registered in Poland
– permanent address in Poland
– having a company account in a bank
– no debt in BIG – Economic Information Bureaus
– relevant documents – accounting, banking, tax
– signing the insurance contract
Below, we carefully present the indicated requirements related to loans for companies available via the Internet.
Registered business in Poland
The basic condition to be met in connection with obtaining a company loan, both on-line and stationary, is a registered business activity.
If it is a one-man activity, the registration is carried out by CEIDG – Central Registration and Information on Business, ie a special database of entrepreneurs. Registration can now be done online too! In the case of companies, it is necessary to sign an appropriate contract and enter an entry into the National Court Register and other institutions and bases, depending on the type of company.
We will also need a personal ID.
Attention! It is not always necessary to submit registration documents when applying for a loan online. Usually, you just need to write out the appropriate headings in the loan application, by copying the registration information.
A permanent address in Poland
It is also important that the company has an address in Poland. this is due to the fact that companies operating abroad are considered safe for me, therefore lenders avoid lending them.
The address entered into the loan application will also include loan documents, including a repayment schedule, which is why it must be used by us in a permanent address – preferably the one that corresponds to the business address.
Having a company account in the bank
If the entrepreneur wants to apply for a company loan over the internet, he should also have a company account in the bank. This account will be used not only to receive a transfer with the amount of the loan but also to verify the identity of the entrepreneur.
The vast majority of identity verification for online loans takes place through a so-called verification transfer. The customer then performs a symbolic amount transfer to the lender’s account, which compares the data from the transfer with the data in the application. When they agree, the identity of the borrower is confirmed.
Attention! You can apply for a loan online without a bank account. In this case, the identity confirmation may take place at the signing of the contract in the presence of the courier or upon receipt of money in the bank window using the GIRO check.
No debt in BIG – Economic Information Bureaus
A very important condition for fulfilling related to company loans on the internet is also adequate creditworthiness. It is determined primarily on the basis of the history recorded in the relevant databases, the so-called BIG – Economic Information Bureaus.
Economic Information Bureaus are institutions that deal with the collection, storage and sharing of data on unreliable debtors.
There are several offices of this type in Poland, including:
– ERIF Economic Information Office
– BIG InfoMonitor
– National Debt Register – KRD BIG
These offices operate separately and maintain their own list of debtors. You can get BIG letters when you do not repay any debt. In the case of entrepreneurs, this may include indebtedness resulting from late repayment of invoices for contractors, rents, bills as subscriptions, but also fines.
Therefore, if an enterprise is on the list of debtors, then the chance of getting a loan is much lower, and sometimes even impossible.
The solution is then to erase negative information in BIG. You can do it by settling your debt. Then the creditor is obliged to delete the information in the Bureau of Economic Information Bureau.
It is worth pointing out that positive credit history is important for both bank and non-bank loans!
Relevant documents – accounting, banking, tax
When borrowing an online loan, we may also be asked to provide relevant documents, for example, accounting, bank or tax documents. However, this is not always necessary, so obtaining an online loan can take place without them.
The documentation is needed above all to determine the customer’s creditworthiness. If a bank or loan company cannot determine it on the basis of data in BIG, then most often ask for additional documents.
Documents may include:
– extracts from the company and personal accounts of the entrepreneur for the last few months
– presentation of PIT documents for the previous year
– presentation of the statement from the KPiR – the Income and Expenditure Book of the enterprise or from the records of revenues for the previous year
– certificate of non-payment in taxes
When the lender asks for additional documents, it may extend the waiting time for the application to be processed and, consequently, for the loan to be paid out.
Signing the insurance contract
Sometimes a bank or a non-banking loan company proposes to the client to sign an insurance contract aimed at additional security of the online loan. In general, however, this is a voluntary decision.
Loan insurance allows you to get support if the company is in financial trouble and the entrepreneur will not be able to pay the debt systematically.
Business loans via the Internet also for new companies
In the context of internet loans, the question is very often asked – is there also a possibility of obtaining them by new companies?
In selected loan companies operating non-banking, including Burke, and in some banks, it is indeed possible. At Burke, you can get a company loan online just after registering it, so it is the best choice for those entrepreneurs who are just starting their business and need money to develop it.
Getting a loan to start is very easy then, because you do not have to provide accounting, tax or banking documents, and you do not need to present a business plan.
Therefore, also new companies that need money to start a business can also use online corporate loans without any problems.
Online corporate loan – step by step
Obtaining a company loan via the internet is not very much compiled. Many entrepreneurs, however, do not know what formalities will happen then. That is why we have prepared a special guide on how to get it to step by step.
An on-line loan is:
– choosing the right offer
– indication of the amount and loan repayment period
– writing out a loan application
– verification of identity
– waiting for a loan decision
– signing a loan agreement
– loan payment
As you can see, these are just a few steps that are very easy to pass. Depending on the offer, the time to obtain money is then from about an hour to several days. Detailed information about the expected payment date can be found on the websites of banks and non-bank loan companies.
Below we present detailed information on each stage of obtaining a company loan via the Internet.
Choosing the right offer
We have a lot of offers available, so it’s worth getting acquainted with various of them before submitting the application. With easy-to-use calculators on websites, you can also quickly calculate the cost of a loan and choose the one that will be the most attractive.
Marking the amount and loan repayment period
Once we have chosen the right offer, we can set the amount and the loan repayment period. In the calculators, we can easily select the best parameters of the offer in line with our expectations.
Deletion of a loan application
The next stage is writing out a loan application – it also usually takes the most time. In the application, we enter all required information, i.e. those related to registered business activity. It is worth checking carefully if the application contains any errors that may cause delay or even rejection of the application.
Making identity verification
Identity verification is most often done by performing a quick verification transfer, but some loan companies and banks also use other methods, such as verification at the facility, at the courier. However, bank transfer verification is the most common and allows you to get the most money quickly.
Waiting for a loan decision
The loan decision is usually issued within a short time – within a dozen or so minutes to an hour, but sometimes it may take longer to process the application. Information about the decision is usually sent by SMS or to an e-mail address.
Signing a loan agreement
If the loan decision turned out to be positive, then the next stage could take place, i.e. signing the loan agreement. Most often, it is approved on-line or by courier, but it can also be done by a GIRO check.
Payment of the loan
When the signed loan agreement reaches the lender, the loan is usually withdrawn immediately. The money is transferred to a bank account or in the case of a GIRO check they are immediately ready for pickup at a post office.
Online loans are a proven choice for new and more experienced entrepreneurs. Thanks to them you can get funds to finance every expense – quickly and conveniently, because without going to the bank or non-banking loan company branch!