The field of entrepreneurship is made up of at least bold people who have decided to start an activity and work for their own accounts. Contractors are defined as artisans, tradesmen, professionals in liberal professions and self-entrepreneurs.
These professionals have financing needs to invest and deal with various expenses in the course of their activity. And the use of credit is often the best option for obtaining funds. Only an entrepreneur with several outstanding loans can find himself in a complex financial situation. The repurchase of credit appears then an alternative allowing these professionals to find a good balance in their budget.
The purchase of credit for entrepreneur and professional in liberal
The status of auto entrepreneur attracts a large number of people because of the many benefits provided by its specific regime (lighter administrative formalities, exemption from VAT …). It should be noted that this professional activity can be practiced as main or secondary activity. Self-employed entrepreneurs face multiple expenses as part of their activities. And a buy back of credit can serve them to optimize their budget.
To reassure the lender, these professionals must demonstrate financial strength and good solvency. Regular income over the last three years, a reasonable debt ratio and good banking behavior are required. The liberal profession has a rather special status. Indeed, professions related to the medical, legal or economic field are often subject to specific ethical rules.
Professionals in these fields practice their activities under their individual responsibility and have different job security. Although the liberal profession generates higher incomes, it also entails significant expenses. Budget management can become complicated, and personal and business finances can get confused.
Access to credit redemption allows professionals to adjust their financial management. Self-employed and freelance professionals have the option to include a complementary cash request to their credit buy-back. The amount of this new funding is based on, among other things, the borrowing ratio and the nature of the borrower’s project.
Credit buyback for trades people
Tradesman trades status includes trades related to crafts, creation and trade. They include hairdressers, plumbers, bakers, etc. The prosperity of these activities is particularly dependent on the demand for the products and services offered.
The variation of this demand often causes the instability of the incomes of these two socioprofessional categories. The loans taken out by these entrepreneurs may end up weighing heavily on their budgets, so that a restructuring of credits is necessary.
To be granted a loan buy-back, artisans and traders must meet certain conditions to reassure financial institutions. These require, among other things, a seniority of at least 3 years, an impeccable management of activity and a book of accounts regularly updated.
The meeting of these criteria represents a guarantee for the lender who will then be more inclined to accept the application for loan consolidation. As with any borrower, the debt ratio of the entrepreneur will also be considered.
The purchase of credit will help to improve the financial situation of the professional. It will also be able to include new funding in its loan consolidation.