If achieving a micro enterprise credit or business credit loan is a financing solution to consider, we must not forget that this type of borrowing has a cost. The cost of the loan depends in particular on the rate applied to it: the update on the loan borrowing rate undertaken at the beginning of the year 2018.
Favorable credit loan rates
In 2017, micro-credit rates were in favor of entrepreneurs. According to the Bank of France, the average rate of short credits fell again in the fourth quarter, from 1.68% to 1.52%. In 2018, the seers remain green with rates of 1.6% for loans over 1 year, an average rate of 1% for loans over 7 years and rates between 0.7% and 1.1% for loans of 5 to 7 years.
Apart from the loan rate, how to choose your business credit loan?
Entering a micro enterprise or business credit loan is a way to ensure liquidity in the short or long term. This enables projects and investments that can be crucial for the development of a company to be successful. On the other hand, it is a question of thinking carefully before making your choice. It is thus necessary to also take into account the cost of the guarantee and loan insurance.
Given the rather competitive rates, trying to negotiate competitively can be a way to get good credit loan. It is also recalled that the more the guarantees advanced by the company (real guarantees and personal guarantees) are solid, the easier will be the negotiation! Nevertheless, even small start-ups have a chance to obtain a micro-credit at a favorable rate with a relevant financing plan, coupled or not with a personal contribution.
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