It is not just individuals who rely on financial organizations to increase their purchasing power or create a cash flow fund. When one is self-employed, craftsman, trader, one sometimes needs additional treasuries to face various expenses. The purchase of credits for professionals may be the option to consider. What if we looked at the advantages of buying professional credits? This ticket accompanies you in all the stages of the life of your company.
The purchase of credits intended for professionals
The purchase of credits for professionals is an offer of depreciable loans that can be subscribed for various reasons:
- Finance a new project (the company needs to finance the purchase of movable goods for example).
- Lighten your monthly payments to increase the capital (the capital increase can help pay the salaries of employees as expenses…).
- Anticipate the future and foresee the imponderables ( taxes, taxes, decrease of the turnover… ).
- Avoid liquidation or bankruptcy.
- To restock without touching his budget (replenishment of raw material as in products).
The purpose of the redemption of pro credits is to purge the various debts of a professional with a view to proposing a lighter monthly payment. While this relief is beneficial, it should be remembered that the duration of the commitment is much longer with a higher total cost of credit. It is necessary to calculate the rest to live of his company before embarking on this new engagement.
How is a pool of professional credits going?
The principle of buying back credits for experts is identical to buying back credits for individuals. The concept is to collect the outstanding credits into a single loan. The strengths of credit consolidation for professionals are:
- Reduction of the cost of insurance. To pay off loans entails the cancellation of the associated insurance.
- Decrease in the monthly payment amount each month.
- Single sampling on a fixed date.
- A single creditor for contacts and postponements of monthly payments in case of difficulty.
While the pooling of credits opens up advantages for professionals, the disadvantages must not be neglected. Thus, it is necessary to know:
- The number of monthly payments to be paid will be greater ( lengthening the duration of the loan ) as well as the total cost of credit.
- The cost generated by the fees.
- The indemnities to be paid to the various organizations for early repayment of credits.
- The amount of the borrower insurance may be excessive.
In addition, you should know that the organization can ask for guarantees. Guarantees can be a guarantor as a mortgage ( real estate ). In the case of a mortgage, it will be necessary to think about adding the expenses of notary. Indeed, this professional is the only one who can issue a genuine deed. The notary fees vary according to the amount of the mortgaged property and the amount of the repurchase of the credits.