Business Loans: How to Get Them? How to Apply? Check it Out!
Generally the business loan is one of the best alternatives for times of crisis.
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This is also an interesting way to guarantee investment in your company quickly and easily.
However, the idea of realizing a dream may be linked to fear of interest rates.
Therefore, before committing to debt, it's essential to research and compare banks, something we'll do throughout this article. After all, in this article, you'll learn exactly about:
- What is a business loan?
- Types of business loans;
- What is the best bank?
What is a business loan?
This credit is a type of negotiation made between organizations and financial institutions, with the aim of obtaining resources for various purposes.
Among these objectives, we can mention the purchase of new equipment or even paying bills.
Therefore, the legal entity is able to obtain high amounts and the return is made through monthly installments.
And in most cases, loan approval may depend on your company's creditworthiness in the market.
That is, your compliance history in past events will be analyzed.
Types of business loans
First, there is the anticipation of receivables which would be a line of credit in which companies advance the receipt of their sales.
This way, you can use now a value that would only arrive in the future.
Let us give an example of where this credit could be requested:
If the customer purchases one of your products and pays in 3 installments, the total amount is only received in 90 days.
By paying in advance, it is possible to receive the amount in a few days.
On the other hand, there is the working capital, generally aimed at companies that have short-term financial debt.
Therefore, we can highlight debts such as payroll, basic expenses, and suppliers.
However, this type of credit may have a reduced payment term.
Thirdly, we have the secured business loan.
The main requirement for this modality is that you present some asset as collateral for the payment of the credit, such as a car or property.
As an advantage, the interest rates are lower and the term would be longer, as the risk of default is lower.
In fact, the values are higher, allowing your company to invest in more expensive projects such as new store expansions and construction, as well as renovations.
Finally, there is the financing which must be obtained to purchase assets for your business, such as vehicles and real estate.
What is the best bank for a business loan?
Below we will list the main credit options for companies, but first it is interesting to know some of the requirements and necessary documents:
- Articles of association or constitutive act;
- Proof of address;
- Operating license;
- Balance sheet – accounting statement that reveals the company's financial and economic situation;
- Independent audit opinion;
- Copy of DIPJ sheets;
- Analytical balance sheet – cash flow information;
- Owner's documents – CPF, identity registration, proof of residence and personal income tax (IRPF).
In this sense, depending on the company, the above documents may vary.
BizCapital
As an advantage, this company offers you fast credit, as the credit analysis is done without delay and the team responds in just one minute.
BizCapital is a transparent company because you understand all the details of the interest rates before signing the contract.
Regarding the application process, please note that it is done online and the company does not require collateral such as a property or vehicle.
Therefore, to apply, click here and indicate the value you need to start the simulation.
Provide details on how the loan will be used (working capital, equipment purchases, etc.) to improve your chances of approval.
Then, fill in the fields with your full name, email, CPF, cell phone number and continue.
If your profile is approved, simply send the documents for the company's analysis, as well as sign the contract and count on the money. business loan into account.
BizCapital Business Loan Details:
| Amount released | Up to R$ 400 thousand |
| Number of installments | From 3 to 24 |
| Interest rate | Between 1,99% and 6,99% per month |
| Release time | 24 hours |
DayCoval
Daycoval Digital Credit is an alternative aimed at small and medium-sized companies looking to grow more quickly and with less bureaucracy.
As an advantage, know that the loan can be simulated and contracted in the digital environment, as the maximum amount is R$$700 thousand.
The payment term is up to 42 months and there is a 3-month grace period before starting to pay the first installment.
Furthermore, no payment guarantee is required.
However, there are requirements to obtain the business loan Daycoval:
- Annual revenue between R$$ 500 thousand and R$$ 90 million;
- For limited liability companies (LTDA), public limited companies (SA) and others composed of partners, not valid for MEI companies or individual entrepreneurs;
- Minimum of 5 years of foundation.
Therefore, request it on the bank's website in the "simulate and contract" section, indicating the desired amount, CNPJ, email and average monthly revenue.
Click “continue” and send the documents for the company to analyze.
DayCoval Business Loan Details:
| Amount released | From R$ 50 thousand to R$ 700 thousand |
| Number of installments | Up to 42 |
| Interest rate | From 1.7% to 2.5% per month |
| Release time | Not informed |
BNDES – Credit for small businesses
The BNDES Small Business Credit line is aimed at generating or maintaining jobs, as well as meeting everyday needs.
This is an indirect line that was launched in 2019 and the resources are transferred by Accredited Financial Agents.
It is interesting to note that the customer can complete the guarantee using the BNDES FGI.
Terms generally vary from 1 to 5 years, and there is a grace period of up to 2 years for payment of the first installment.
However, only those who earn up to R$1,400,000,000 can apply.
Therefore, to obtain the value of BNDES business loan, contact the bank where you have an account or look for an accredited financial agent.
With your bank, you must negotiate interest rates, credit amount, term and other conditions.
If approved, the proposal is sent by the agent to BNDES and another analysis takes place.
Finally, the resource is released and passed on to you.
BNDES Corporate Loan Details:
| Amount released | Limit of R$ 10 million per year |
| Number of installments | 60 |
| Interest rate | Not informed |
| Release time | 30 days |
Box
This bank has several credit options for companies, so when you click at this link, you understand more details.
As an example, let's talk about the Easy Cash Spin, aimed at companies with an annual turnover of up to R$1,400,000.
The maximum amount is up to R$1,400,000, and is made available partially or fully, depending on working capital needs.
Therefore, the amortization period can be up to 60 months, but the company's annual revenue and the guarantee may influence this.
In fact, there is the possibility of defining the best due date for the installments and the interest is pre-fixed.
Regarding the application process, please note that you must visit one of Caixa's branches and speak to the manager.
This way, you will be able to understand more about the documentation required for hiring, as well as clarify all your doubts.
Present the documents for the application business loan and wait for the analysis.
Once approved, simply sign the Relationship Agreement or Bank Credit Note and receive the amount into your account.
Caixa Business Loan Details:
| Amount released | Up to 2 million |
| Number of installments | 60 |
| Interest rate | 6% aa |
| Release time | Not informed |
Itaú business loan
Just like Caixa Econômica, Itaú has several credit alternatives for legal entities, which can be understood here.
To illustrate, we will also talk about the working capital option.
You can count on great security, as this is the largest bank in Latin America, when we talk about solidity.
It's very easy to sign up and can be done through the app or online, and you have up to 90 days to start paying the first installment.
Therefore, to hire this business loan, you just need to go to Itaú Empresas and indicate the branch and account.
When accessing the menu, click on “Credit” > “Installment Loans” > “Simulate and sign”.
Run the simulation and define the number of installments so that the amount is released into your account after approval.
If you have any questions, the bank recommends that you speak to your manager.
Itaú Small Business Loan Details:
| Amount released | Not informed |
| Number of installments | 54 |
| Interest rate | From 0.99% to 5.66% per month |
| Release time | 5 days |
Credits
Through Creditas, you get a business loan without any bureaucracy.
Therefore, you just need to have a CNPJ and use your property or car as collateral for payment of the loan to have access to exclusive conditions.
For example, this company offers lower interest rates to help grow its brand.
To request, it is necessary access the website and run the simulation to receive a personalized proposal.
At the time of analysis, it is necessary to send your personal data and all necessary information about the property.
Once approved, the amount will be credited to your account and can be used however you prefer.
Creditas Business Loan Details:
Property guarantee:
| Amount released | From R$ 30 thousand to R$ 3 million |
| Number of installments | Between 60 and 240 |
| Interest rate | 0.79% per month + IPCA |
| Release time | 5 days |
Vehicle warranty:
| Amount released | Between R$ 5 thousand and R$ 150 thousand |
| Number of installments | From 18 to 60 |
| Interest rate | 0.99% per month |
| Release time | 5 days |
Cashme
According to the company itself, “we are entrepreneurs like you”, so there are several benefits in business loan Cashme:
Among them, we have the application process which is 100% digital, as well as great transparency.
In other words, the value of the interest rates can be confirmed even before signing the contract.
Its use is also free, whether to pay off debts or exchange them for a single, cheaper one, renovate or buy another property, or anticipate a sale.
However, please be aware that this is a loan secured by real estate.
Therefore, simply fill in the fields in website to perform the simulation.
The company analyzes your profile and property quickly and securely.
If approved, all documents will be issued for you to sign and receive the money into your account.
Cashme Business Loan Details:
| Amount released | From R$50 thousand |
| Number of installments | 240 months |
| Interest rate | From 0.85% am + IPCA |
| Release time | Between 45 and 60 days |
Bank of Brazil
Finally, there is the business loan from BB.
As with other traditional banks, the institution has several credit options for companies, all of which are clearly explained. at this link.
Just as we did with Caixa and Itaú, we will highlight information about Pronampe working capital in this content:
This credit is aimed at companies with revenues of up to R$1,444.8 million and as a benefit, there is a grace period of 11 months.
The amount released is also high (up to R$1,400,000) and the interest rates are lower.
In this link, you can understand more details about the credit.
To sign up, the customer simply needs to visit a Banco do Brasil branch.
Banco do Brasil Business Loan Details:
| Amount released | Up to R$ 150 thousand per CNPJ |
| Number of installments | 48 |
| Interest rate | Selic rate + 6% per year |
| Release time | Not informed |
Conclusion
Note that there are several options for business loan, with each financial institution having its own conditions.
Therefore, keep comparing banks and decide which is best for you.
Also discover options for corporate credit card. Click the button below and find out more!
