Economy in Lithuania is gaining momentum, so it is not surprising that some people are determined to take their own business. However, the mere fact that the economic situation has improved does not mean that it is easy to get a loan from a bank for a new business. Banks insist on pledging assets that young business does not usually have. In addition, large-capital banks are more oriented towards large and reputable businesses, so small and young businesses have very low funding opportunities from the bank.
What do I need to get a loan for a new business from a bank?
Of course, getting a business loan from a bank is possible, but a young and inexperienced entrepreneur may lack the skills to convince the bank to finance his business. It will have to be very clear – how and for whom you will use the borrowed money.
You will have to go to a bank employee to write a request. Later, you may have to wait a week and more until the bank checks your credit rating and, after evaluating all available information, will provide you with a final answer. In addition, you will be required to open a bank account with a bank that agrees to grant a loan to your business.
After all, a loan for a business may need to go to a single bank. This means that you will have to repeat the same procedures each time: make a call, go on a visit, write a request, etc. And the worst thing about this situation is that after you get a negative answer, you will not only be left without credit, but you will spend a lot of your precious time .
What documents do I need to get a loan for Business
Unlike the bank, Versl2424 focuses on small and new business owners who need to quickly and easily finance their business ideas. We are aware of the obstacles faced by young businesses and how lengthy procedures can hamper business growth. That is why we have simplified the procedure for granting loans to businesses so that entrepreneurs can quickly and easily implement their ideas without any disruption.
To get a loan for business, you just need to fill out a short loan application form on credit24verslui.lt website. This form will be completed in just a few minutes, and we will contact you within 1 hour on weekdays from 8 am to 6 pm. and we will provide you with a response to the loan and match all the details by phone. You’ll get the money the same or the next day.