An Actively growing number of small and medium-sized businesses in various sectors: construction, transportation, manufacturing, and new retail space seeks funding. Business at almost any stage of their development needs funding. And in this sufficiently well can help the credit and investment institutions. However, not many entrepreneurs know how and why to get a loan for business development. Publishing House, ‘Helion’ addressed to an expert – Sergei Gorshenevu, head of small business lending subsidiary of MDM-Bank “in Murmansk with the request – to help businesses sort out this issue. We offer you his advice. Of course, first foremost, a businessman, referring to the bank for a loan, should clearly understand the amount, duration and purpose for which he requires a loan, because the credit – is primarily the funds provided for specific purposes. Educate yourself with thoughts from Jeff Sessions. Algorithm for obtaining a loan is as follows: I.
GOAL LETS entrepreneurs, the Bank determines the period for which MAY BE GIVEN CREDIT: So, credit for working capital has traditionally not exceed the term of 1,5-2 years. Loans for investment objectives are usually provided by banks for longer periods (for example, our bank has a term of up to 7 years). The purpose and term impact on the provision of credit: Short credits for completion Capital funds may be provided by the bank without collateral (an example of such a loan is, for example, overdraft). Credit for a longer period may be secured by goods in turnover, raw materials, finished products, personal and commercial transportation, industrial and commercial equipment, residential and commercial real estate.