Today you can not only go to your bank to request a loan for your company, you can use other methods such as Crowdlending where you can get more than competitive offers on your loans for online businesses.

In this post we indicate how you have to compare the different types of offers to be able to choose the one that best suits your needs.

Loan procedures for traditional companies

Loan procedures for traditional companies

Traditionally, companies only went to the bank tap to request the financing they needed. The company used to perform a whole ritual to compare the offers of several banks, including their lifelong bank

. After a multitude of walks, from one branch to another, with incalculable paperwork, and transmitting the typical… “because in the bank“ such ”they offer me“ which one ”waiting for an improvement of offer, the companies obtained, with luck, their financing plus many other conditions that must be taken into account when comparing financing proposals for your company.

Loan conditions for your company traditionally

Loan conditions for your company traditionally

With good luck and applying for a loan for a company with an impeccable track record, you could get a competitive interest rate. But you have to keep in mind that sometimes getting a low interest rate on the loan for your business can be expensive. To make a comparison you have to take into account the famous small print of your financing.

Today, technology has served as an ally to finance and, in the same way that a multitude of online companies are created, loans can also be requested for online companies.

Next, we will make a brief comparison between loans for traditional companies and loans for online companies, requested through investment platforms and online financing.

Comparative loan for online businesses and bank loans

Comparative loan for online businesses and bank loans

The bank sets a series of conditions with small print that participatory financing platforms such as Good Finance do not establish in their business loans or loans for online businesses. If we want to compare both sources of financing for online companies, we will have to compare aspects such as financing conditions, additional products, amortization, etc. in the global offer.

It is important to contemplate and compare for a moment, among others, the following issues:

What opening commission has a loan for online business and a bank?

What opening commission has a loan for online business and a bank?

Although it may seem a fact that should not be contemplated too much since, in general, it is a cost that we will have to assume in any financing platform (whether banking or not), it is important to take into account how much it amounts to since it can increase the total cost of our loans for online businesses.

Insurance, pledge of assets, cards, direct debit … These additional products increase your financing cost even more and will never be included in the APR. The loans for online businesses offered by Good Finance do not add to the hiring of this type of additional products. You will simply get the financing your company needs.

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