The finances of a business are usually affected due to the mismanagement of resources. Well, many owners of small or medium-sized companies do not manage to control the flow of money and it is even possible that a stage will be reached in which there will be more expenditures than income resulting in indebtedness. Then in this case, a debt transfer credit can be used to pay for the expenses that continue to be generated and also to liquidate what is owed.
Well, although somehow you think that you are acquiring a greater debt, you will really have a help to be able to amortize your overdue balances immediately, thus preventing them from growing.
Below we will explain more under what terms a credit of this type works for your business and how to use it correctly once you have it.
The credits to transfer the debts, have been created under the functionality that when requesting this type of loan you obtain an amount that allows you to pay the sum of your multiple debts and at the same time allocate a part to invest in your business.
At Konfío, we offer Koncentra as the credit product that allows you to make this type of financial reorganization for your business. The conditions that you must meet and the requirements are the following.
Once you start your application you can immediately see the amount that can be granted and make a decision. Ideally, keep in mind that the credit you get will be mostly to settle your past due balances.
Once you obtain the credit to transfer your outstanding debts, you acquire certain benefits in addition to the additional offer to invest. Well, when you settle your outstanding or outstanding balances, your lines of credit are released so that you can use them correctly. In addition to that your credit history and score improves so that you can obtain offers of credits in the future and you are approved. And without forgetting that you will control your indebtedness better since you will only have pending your new credit.
While specifically for your business finances, the additional amount can help you implement new improvements. That is, use the other part of your credit to be able to continue promoting certain actions towards a better stage, “growth”. Well, if you give it the right use with a strategy, you can see that your income and business opportunities can rise.
In order to have a positive experience with credit, you must propose a strategy that guides the actions you must take to reorganize your business finances. First, take an analysis of the debts you have and the amount you need to pay it off, so you will compare what you are getting in the loan. Then think about what it would be good to invest the additional to boost your business and improve it, so you can plan it.
Once you have defined the use you will give it, continue to give it a good administration. Keep track of what you are spending and what you need to do. This way you will know specifically where the investment of your money is. A tip here is that in addition to the use you also have a payment plan for the credit, as this way you will be able to avoid delinquent interest and pay in time and form.
The most advisable for a business when implementing new changes or strategies, is to measure the results that are being obtained. In this way you will visualize better the real help that the credit is offering you and evaluate your experience as positive.
Now that you know how it is possible to reorganize the finances of a business with a credit without thinking that you are acquiring a greater debt, you can discover how much they could grant you and thus pay your past due balances. We recommend that you investigate and compare the different financial institutions that offer this type of credit so that you can choose the one that best suits your needs.