For small entrepreneurs, growing or concretizing large projects can represent a challenge for the issue of access to capital. The Government of Spain, aware of this, designed an institute whose mission is to assist small merchants in achieving their goals and objectives.
The Official Credit Institute (Good Lender) was created in order to help SMEs and entrepreneurs in the expansion of their businesses, so it offers loans aimed at microentrepreneurs, freelancers and NGO representatives, for the materialization of their growth or internationalization. If you are interested in having information about what Good Lender loans are and what requirements they have, here we tell you more.
What do Good Lender business loans consist of?
Each small business has this credit tool at hand to solve projects that require an investment, make payments, resolve liquidity issues, or for the purchase of goods, fixed assets, improvement of facilities, or renovation and remodeling of real estate. .
These are some of the main features of Good Lender loans:
✔️ Maximum amount of 12.5 million Dollars.
✔️ They may have a fixed or variable interest rate. For Good Lender 2019, the maximum interest rate is 2.30% if it is for one year. For operations between 2 and 4 years the maximum rate will be 4.00% and for more than 5 years it will be 4.30%.
✔️ Banks can only charge commissions for opening and prepayment.
✔️ Maximum payment term is 20 years and the minimum one year.
What are the main requirements of Good Lender loans?
The main thing in this type of business loans is to design a project that exposes the destination to which the requested money will be used, the way in which it will influence the profitability of the company in the short term and the capital to be requested to execute. According to the money to request, the company must have a way to strengthen its economic solvency, demonstrating payment capacity or giving some type of guarantee.
Loans for Good Lender companies are requested directly at the bank offices, who are responsible for receiving Good Lender loans, study the case, approve or reject, and follow up on the request. So, depending on each institution, the requirements of Good Lender loans, commissions and interest rates, among many others, may vary. Hence, the importance of research to know the advantages and disadvantages of taking credit with a certain entity. Relying on tools such as a personal online loan comparator can make the job easier.
Entities that Good Lender loans for companies
⭐ Good Lender BBVA loans . The BBVA institution is one of the financial institutions in charge of processing this type of loans, grants loans of up to 25,000 Dollars, and its interest rates vary according to the type of loan that is approved, for example, for BBVA Good Lender loans of a year, the rate ranges from 2.3% and if it is more than 4 years, the rate amounts to 4.3%.
⭐ Good Lender loans. The bank has a catalog of lines that range from national activities such as the process to internationalize. For example, in national small business plans they contemplate approval in case of liquidity or remodeling needs. The Good Lender loans stipulate a single commission at the beginning of the operation, and an additional one in the event of an early repayment.
Alternatives to Good Lender loans
While the options offered by the Good Lender are very attractive, you will not always be able to access them. Do not let this be an obstacle to carry out your project, and consider other traditional credit alternatives such as personal loans, payroll advances or even larger options such as loans of 2,000 Dollars. The possibilities are many, you just have to check.