In Lithuania, as the economy grows, the form of individual business has become more and more popular in recent years – business certificates and individual activities under the certificate. According to the STI data, in one year (from 2014 to 2015), the number of people working under the individual activity certificate increased by almost ten thousand. It is obvious that Lithuanian residents are willing to take their own business. But what are the possibilities for getting this business credit?
Get a credit from a bank, working on an individual activity certificate or a business certificate – mission impossible?
According to the banks themselves, the conditions for obtaining credit for business development for people working under an individual activity certificate or a business certificate are the same as for other business forms. However, the data of the banks indicate quite different information. Customers of large Lithuanian banks working on individual activity certificates or business certificates make up only 5-10% of the total number of loans granted to clients.
For people working under a business certificate or a certificate of individual activity, and receiving stable, successive income for several years, the bank is still reluctant to lend money to business development.
The main obstacle to obtaining a loan is the high requirements of banks
And yet – why do banks so reluctant to lend money to people working individually? There are several reasons.
First and foremost, the bank considers the income generated by the individual activity certificate or business certificate as non-permanent. It is feared that they may fall sharply or disappear at all, and that one may become insolvent. Secondly, the main factor determining the granting of a loan to a person working individually is pledged property. Unfortunately, people who choose these forms of business are usually not willing to risk their lived assets, so only a small part is determined to go to the end and take out a loan from the bank.
Business Loan Loan to Business by Business Certificate or Business Certificate
Unlike banks, Business24 focuses on small business people and individuals working on individual activity certificates or business certificates. We finance even newly established or currently unprofitable businesses with financial difficulties without mortgages.
We understand that it is important for young and small businesses to spend as little time as possible on bureaucratic procedures, so we’ve made it easier for you to get a loan. To get a business loan, just go to credit24verslui.lt and fill out a simple form. Enter the number of the individual activity certificate or business certificate, personal data and receive our response. You’ll fill in the form in minutes, and we’ll answer you in 1 hour, on weekdays from 8 am to 6 pm. We’ll transfer the money the same or the next day.