The choice of the bank to finance a professional project is not always obvious, it will mainly depend on the nature of the financing to be obtained and the maturity of the company. Here are some tips for choosing the right bank for professional credit.
Credit for creation or resumption of activity
There are different reasons that can lead an entrepreneur to seek a bank for a professional loan. The most common is simply to undertake a business creation, so you have to write a business plan and convince the banker of the viability of the project. Everything must be addressed, both the feasibility of the business and its projection in terms of turnover and development in the years to come. Without existing financial data, the bank will therefore estimate the risk based on this document, it must be complete and above all meet the standards of financial institutions.
As part of a resumption of activity, there is existing information, which the bank can obtain in part from the current accounts, whether it is outsourced or internalized. Banks, that is to say the gross operating surplus, it is a benchmark element, recorded in the balance sheet, very effective in gauging the financial situation of the company. . With several balance sheets (at least 2), the banker can more easily assess the situation of the company and decide on a financing notice in the context of a takeover. A business plan may sometimes be required to reassure the bank on the new strategy or the development objectives of the buyer.
How to choose the bank for professional credit?
Choosing the bank can be done in different ways, some are only going to need financing and the best solution is to go through a professional broker. This intermediary will be able to study the manager’s need for cash financing, a machine / stock purchase or even a major investment (real estate, company buyout, etc.). The idea is to find a financial partner capable of responding favorably to demand and above all to support it in its project independently. For other projects such as creation / takeover, there is often the need for financing associated with the domiciliation of company accounts, so a more complete approach is needed to take into account both loan conditions and offers. professional bank accounts.
The choice of bank can only be made on the principle of comparison, that is to say, account must be taken of the proposed repayment duration (which is 5 years maximum for a company) but also of applied rates and various fees that may arise. Note that it is possible to combine several professional loans and even have recourse to seller credit. It is therefore necessary to be able to compare three financing proposals in order to make the best choice for professional financing.