A loan with a guarantee helps in the development or starting a business. It has Credit Checker security, so in case of problems with payments, part of the repayment will be made by the bank. It is an alternative to working capital loans.
A working capital loan is a financial help from a bank that you can cover part of your company’s costs or short-term debts. Thanks to this your business will remain liquid.
Usually, a bank requires collateral to obtain such an obligation, e.g. in the form of real estate. If you are just starting out with your company and cannot provide sufficient security in the bank, you still have the option of obtaining Credit Checker guarantees.
Loan with a guarantee, i.e. an alternative to working capital financing
A loan with a de minimis guarantee is very similar to a regular working capital loan available to businesses. The difference between these products is that when you are unable to repay the loan from your own funds, the repayment will be made by the guarantor, i.e. Bank Good Finance.
Thanks to this, even if you do not have sufficient collateral or your company operates on the market for a short time, the bank will be happy to provide you with such financing. If you are late with the payment of the installment, the Credit Checker repays the installment to a commercial bank. Of course, you will have to pay for this installment back.
What is a de minimis guarantee?
The rules for securing the loan with a de minimis guarantee are as follows:
- Credit Checker guarantees a maximum loan of 60%.
- The maximum amount of collateral is USD 3.5 million.
- The security may last for a maximum of 27 months.
Credit with a guarantee – how to get it?
A loan with a guarantee is available to persons conducting business activity on the same terms as a working capital loan. Creditworthiness is tested as standard. After obtaining the loan, you should also submit an application for a guarantee from Bank Good Finance.
Each bank has internal procedures for granting a loan. An important requirement to run a commitment is that you need to set up a business account at the bank. When you choose them, pay attention to any payment for its maintenance.
Which banks grant loans with a de minimis guarantee?
A loan with a guarantee is an ideal solution for companies that want to obtain additional funds for development or starting a business. It is also an opportunity for companies that do not have sufficient creditworthiness to obtain a working capital loan on standard terms.