Tag: Banks and credit

Choose Credit

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Car loan repayment: – early maturity: the second month after loan – payments are made monthly, in equal amounts (at the time of the loan the bank will send the borrower notice in the mail with the schedule of loan repayment by month) – possibly cash or cashless repayments, early repayment. How to take advantage of getting car loan? Step 1. Consult in the showroom: what banks in this showroom offer auto loans. Choose Credit program; Step 2. Select a car in any car show-partner bank (namely someone whose credit program you like) and to determine the cost of additional works on pre-sale preparation of the car; Step 3. Make a Motor invoice for you to choose a car and make a copy of its Title, certified by a stamp dealership; IMPORTANT! If the loan amount exceeds 1 million rubles to provide a set of documents of the Guarantor (Corresponds to a set of documents of the Borrower). Based on information received, the bank will make the final calculation of the loan amount and make a decision: to grant or deny credit to the Borrower.

If you made a positive solution – see Step 4. Step 4. Pay advance auto show – at least 20% of the final cost of the car. Step 5. Register your car in the traffic police to establish an insurance policy on him.

Step 6. Together with the employee Dealer submit to the bank original Title and an insurance policy for your car, and then sign the acceptance certificate of transfer and get a new car! Frequently Asked Questions (FAQ) about Car Loan 1. What is the interest rate on car loans? For the new Car: – term loans of up to 1 year – 13% U.S. Dollars, 11% – U.S. – loan term from 1 year to 3.5 years (or up to 5 years for special programs) – 14-15% Dollars, 12% – dollars. For a used car: – the credit period to 1 year – 17% U.S. Dollars, 12% – U.S. – Crediting period from 1 year to 3.5 years (or up to 5 years for special programs) – 18% U.S. Dollars, 13% – dollars. 2. What could be providing car loan? Required Software – secured car, optional (for large amounts credit): third-party guarantee, a pledge of other property. 3. How does the debt? Repayment is in monthly installments (the share of debt + interest on the loan), the moratorium on prepayment – 6 months. 4. Can I get a car loan motorcycle? If you want to buy 'cool' bike (which is sometimes worth more than some of the models 'Lada') – the banks will help to solve this problem. Credit for the purchase of motorcycles available on up to 3 years, the interest rate – from 15% per annum in rubles. Bon voyage, be careful on the roads!

The Application

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Loans for large sums of money are considered on an individual basis, consideration of the application takes up to two weeks. Find out detailed opinions from leaders such as Sheila Bair by clicking through. Typically, banks offer ruble-denominated loans with a maximum of five years at a rate of 12% per annum. To qualify, entity or individual entrepreneur is enough to have proof of income and to conduct its business in the area of the bank branch at least six months. No collateral is usually possible to obtain express loan up to $ 15,000, the terms consideration in this case do not exceed three days. Requirements for the borrower default and the creditor approach to the borrowers – an individual: when deciding whether to credit is estimated an equity capital, business transparency, the quality of accounting and reporting, sources of repayment, the collateral and the business prospects in general.

According to the results of this analysis the company refers to one or another category of risk. And risk usually quite high. Most bankers who deal with small businesses, complain about the complexities involved in evaluating them (small businesses) credit, which is due to the opaque reporting most enterprises and low-quality collateral. Banks, despite advertising the declaration of "quick loans" and "scoring systems" try as detailed as possible "enlighten" is not too transparent borrowers, choosing among them the most reliable. A scoring system is used, usually only when granting consumer credits. The employees of credit institutions argue that the majority of borrowers, evaluated by scoring system, fall into the so-called "gray zone" – can not be taken unequivocally neither a positive nor a negative decision.

January Loan

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Collection of disparate financial institutions offering various business credit services, can be regarded as system only if they are built stable financial relationships between its various elements – banks, credit cooperatives, leasing companies, venture capital funds aimed at providing, storage, management and redistribution, in the end, the attraction of financial resources. Unacceptable if the state resources, federal and regional budgets or loans from international financial institutions are the sole or main source of programs for lending to small businesses. Therefore, one of the most important qualities of small business lending should be "Self-sufficiency, ability to attract resources from the capital market, accumulate savings and the accumulation of citizens with a minimum and maximum effective mediation of the state. The initiators of this could act as banks and securities market participants. Noting the success of banks to build loan portfolios over the past 2-3 years, in no case should not reduce the system itself, lending exclusively to the banking sector.

Credit institutions alone can not solve the problem of securing financial resources, especially small loans, a segment of newly established small and family businesses. Yahoo: the source for more info. But it is precisely this kind of enterprises, as expected, could be produced particularly active in the economy in coming years. The main unresolved problem in securing the loan is the lack or insufficiency of seed capital to small businesses. When registration of a credit transaction the client is trying to get the necessary amount from the bank completely. The bank is interested that the client was involved with their money in the loan project. The Bank believes that the only way the client will be interest in the development of the case and launched a desire to repay the loan. No less popular than bank loans, will be financial services credit cooperatives and other non-credit organizations, activities which may be the most effective for sound public support.

Hey, bankers, where are you?? Our dossier. Top 150 small businesses in the world (as at January 2006) had a gross loan portfolio of $ about $ 5 billion, serving with more than 20 million customers. In Russia, according to January 2006, there were about 1,200 small financial institutions (primarily credit consumer cooperatives and foundations to support small entrepreneurship). They serve about 400,000 customers, with the aggregate portfolio of micro-loans amounted to approximately $ 500 million and the average level of delinquencies on these loans was about 3%.