In recent years, traditional banking has lost part of its monopolization. According to countless experts in finance, financial companies specializing in technology, Fintech, could gradually displace the traditional methods of banks, as stated by Paolo Estebes, director of Fintech Spain.
If you are in search of financing for your company and you were planning to borrow from the bank, we invite you to continue reading. We will make an approach by 3 of the methods that you could use so that you choose the one that suits you best.
They are ideal for those who still distrust technology and prefer to do everything with the traditional line of credit. Many people flee from it because of how tedious the request is and the unlikely chance of getting it. For the most part, the requirements are quite demanding and it is necessary to present guarantees.
These are the advantages they offer:
They are focused on companies, so if you meet the requirements you should have no problem in their approval. Commercial loans are small, must be paid in the short term and fees tend to vary. If the objectives are not met when obtaining the credit, it may be necessary to resort to amortization.
But, in addition, they offer certain advantages:
Companies of this type take full advantage of technology to develop the products and services they offer to their customers. In Mexico there are 168 fintech companies that have been in charge of especially benefiting SMEs in the country.
And what could a fintech company do about the financing my business needs? These are the main advantages for your box: