Business Loan Without Bank Statement

Business Loan Without Bank Statement – A ‘freelance’ has to face everything from managing his time, receiving late payments and even knowing that he can refuse a request for a loan.

How it can happen to any worker on their own, sometimes you need a loan to improve the house, pay the tuition of a study or finance a project. But, at the time of making the request, they reject it because it is not the ideal candidate for banking entities.

Loans Without Bank Statements In South Africa

Loans Without Bank Statements In South Africa

 

The story is repeated day by day and that was what happened to Ricardo Solarte Ojeda, a journalist who lives in Bogotá of his work as an independent and who in his blog ricardosolarte.blogspot.com.co recounts what he lived with the bank AV Villas. In his entry ‘The banks were obsolete’ tells what he was told when he went to apply for a bank loan for $ 12 million to finance their studies.

“I told them I was independent and they asked me for the bank statements of the last three months and a balance sheet for the last year. I took those documents and when the commercial advisor saw them he told me: “Your income is fine, but the truth is that in order for us to lend you the money you must have a wealth of more than $ 100 million”, to which he, between surprised and annoyed he asked: “What? For a loan of 12 million pesos, I must have a house, a car and a scholarship? “And the advisor’s response was a brief one: ‘That’s right’.

However, he did not desist in the attempt, so he found out what he had to do to exempt himself from the $ 100 million requirement. It was where some customers to whom he requested the certificates of monthly income so that in total they all added about $ 4 million, which was the requirement that put the commercial advisor.

“I got my three certifications and guess what: when they went to call them to verify the existence of those companies it was difficult for them to contact them. For obvious reasons. My clients, like me, they are their companies themselves, and answer the cell phone, and not a fixed number. ”

Obviously, people today are more aware of the cell phone and almost do not answer the fixed numbers and that is why the author requested that clients be contacted on their cell phones, to which the advisor who handled the case at the bank responded “You can not , we only call fixed numbers. ” In those lasted a month, until he gave up on that bank. In search of solutions, he contacted his university to tell them what happened and then he was recommended to go to another bank that had an agreement with them for the loans.

He went to Fincomercio, which is not a bank as such, but a savings and credit cooperative. “First I talked on the phone with a commercial advisor, who kindly told me:” Of course, we’ll wait for you at the office that is closest to your home. You just have to take the registration order and the photocopy of your ID. In 15 minutes we say if we approve or not your credit “.

 

Business Loan Without Bank Statement

Business Loan Without Bank Statement

Business Loan Without Bank Statement

He was cared for on 13th Street with 68th Avenue. At a window for educational loans, they gave him a paperwork in a very short time “because it seems that we are few who ask for money to educate us”. After presenting the documents for the loan, the loan was approved in 15 minutes, with a letter where the counselor informed the educational institution that the process had been successful.

In response to a question, Solarte replied to Personal Finance that “financial cooperatives are taking advantage of banks when it comes to lending money. Because they were modernized and they are fast and effective in the process, “he said.

In an ironic tone, Solarte compares the process in the cooperative with that of the banks and says that the latter verify the income again and again, do not respond in terms satisfactory to the user and ask for “up to the RH certificate and the sexual past (obviously I’m exaggerating) (sic) “says the complainant. While credit unions are only enough with the word pledged, the good credit history and see the desire of those who want to achieve their dream.

When comparing the delinquency between the banks and the cooperatives, according to the Superfinanciera, it says that the result is interesting. Although banks have a lower past due loan portfolio: 3.6% in January 2017 compared to 4.2% for credit unions in the same period, it is noteworthy that the past due loans of banks grew more in the last year than the one of the financial cooperatives. This is taken into account that in January 2016 the past due loans of the banks were 3% (now 3.6%). While the past due portfolio of cooperatives was 4% (now 4.2%).

“Conclusion: among banks more harden their conditions to lend money, their customers are hung more. While savings and credit cooperatives flex their policies and strengthen their technology and processes to lend their customers without mystery. And it seems that they respond well to that confidence, “he says. And leave a note: “PD: bank AvVillas, the world changed, the companies of now we are people, that like me, we are in the street all day, and that we can not be aware of a fixed number”.

It is worth remembering that the DANE revealed the latest figures of the labor market with a cut-off to February 2017, where it indicated that self-employment for the mobile quarter December 2016 to February 2017 grew 1.4%, with a participation in the national occupation of 43%. This field includes independent workers, freelancers, bricklayers and many people on foot who decided that they were better off being their own bosses than working as employees within a company.

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