The importance of checking the credit in the companies with which you do business – Immediate loans

The importance of checking the credit in the companies with which you do business

La importancia de verificar el crédito en las empresas con las que hace negocios 300x200 Unfortunately, business-to-business fraud is a big problem that could cost your small business a lot of money. That is why it is important to verify the credit in the companies with which you do business.


Business to business fraud

We are used to hearing stories about scammed consumers, but how often do we hear that companies defraud other companies? Business to business fraud is a multi-million dollar problem per year for companies in Spain. This is reflected in money laundering, social security or embezzlement.

But even if fraud is not part of this equation, consulting another company’s credit report is an important tool that should be used when you extend the terms to another company or make a large sale before charging the full payment in advance. As a small business owner, your success depends on the ability of customers to pay their bills on time. If your customers can not pay their bills on time, keeping your cash flow at consistently healthy levels becomes difficult, and eventually can force you to sink.


Verifying the credit of the company

  • Recent financial disasters have shown that sometimes they are the biggest and most attractive companies that end up collapsing and demolishing everyone with them. No matter how good you think your relationship with a potential business partner is, you should always keep in mind that what you see abroad is what you want to see. Your credit history may reveal a different image.
  • If you are convinced that you need to perform a credit check on any company you are considering doing business with, it is best to track detailed credit information on up to five different businesses at a time. (Obtaining a single business credit report in another business has a cost for companies that provide support in accounting and finance). It is very good can be a good option to not take risks.
  • A business credit score provides a quick summary of the information in your business credit reports. Specifically, a business credit score assesses your company’s ability to make payments on time. The information used to calculate your business credit score includes public and private information that your suppliers, lenders and more can see.
  • Before you start, if you want to verify the credit score of the other company with which you are going to do business, and obtain a summary of commercial credit, you can do so with a business advisory company. They also offer access to credit reports, scores, monitoring and protection against fraud for a monthly fee.
  • Surely you must ask yourself, how do banks do before extending credit to their customers? Before banks extend the credit, they check the credit history of the prospective borrower and the ability to pay, among other things.
  • Every company that requests credit must complete a credit application that includes basic information, such as address, contact information and tax identification number, as well as references of other companies that have given them credit. A business is unlikely to list a contact that says something negative, but if the company has trouble finding three or four good references, it could be a red flag.
  • Verify publicly available information. The company’s social networks, the press releases section on its website and the information available through a simple search engine can help you determine if the company is having problems that may affect your ability to pay. Companies that are listed on the stock exchange must also submit regular reports full of facts about the state of the business with the Securities and Exchange Commission. These are generally available on the company’s website or through the state regulatory superintendencies.
  • Use credit assessment tools. The business credit assessment tools provide different information at variable costs, and include monitoring reports. Gathering information about clients ‘cash flow is not something that is done at the beginning of a relationship; monitoring problems that could affect your customers’ ability to pay can help you avoid disaster.

Final notes

Growing a successful small business involves taking precautions and risks. Controlling the credit of the companies with which you do business is one more step to make your story happy. And remember that optionally you can always get urgent loans without endorsement .

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Ways to manage your debts and avoid mistakes – Immediate loans

Ways to manage your debts and avoid mistakes

Formas de manejar tus deudas y evitar errores 300x187 With a large proportion of the Spanish public currently in debt, managing debt successfully has become increasingly important. If your debts consist of credit cards, overdraft, mortgage, personal loans or short-term payday loans, in many ways the routes to successfully handle your debt burden are very similar. If you are really struggling, or are just looking for some advice, here are three suggestions to help you manage your debts more easily.

Debt management: keep track of everything

The question of debt is that if you do not keep up, you tend to lose control. Debt is not something that anyone feels particularly comfortable with. As a result, we often adopt an even stressful approach to managing debts, ignoring them or simply waiting for them to take care of themselves. This is the worst thing you can do, as it is the easiest way to start losing reimbursements, accumulate fees and charges, and it will be very difficult to plan and successfully administer reimbursements if you are not 100% sure of the debt burden. 

Do not panic

Debt can be scary, especially if you feel you are losing control or do not know how to pay it. Instead of feeling guilty, fearing the future or feeling depressed about it, just accept that this is something that many people have to handle these days and you are not better or worse than any other person. Set clear objectives to pay the debt so that you feel at the top, do not leave unopened letters and solve any problem that may arise. If you feel you really can not handle it, get professional help. There are many organizations that can help you manage your debts more successfully and at no cost, and just making an appointment can make you feel like you have eliminated a great deal of weight.


There are many reasons why we get into debt, but the only reason you will leave it is to develop or strengthen your self-control. Channel all your efforts to pay off those debts: re-evaluate your finances continuously to see if there is any waste that you can reduce and be ruthless to yourself when it comes to emotional expenses or ‘treatment’. Just think how much better, you will feel free of long-term debt, instead of having a new pair of shoes in the short term.

Whatever your debt load, you can use these three tips to help you manage it. Most of us are dealing with debts in some form or form today, so it is an essential skill for life to learn to manage it effectively. While you may not be able to liquidate those debts as quickly as you would like, learning to manage them means far fewer nights of insomnia and a slow but sure progress towards a free debt.

Additional you can take into account some tips to start a new project and avoid mistakes, such as:

1. Bet on something that is sold. It’s fine if you’re passionate about something, but if that something is not in high demand or does not meet the expectations of the public, it’s very likely that your business will never take off. To avoid this, the most advisable thing is that you first evaluate the market to which your product will be directed.
2. Do not forget online marketing. Technology has come to change everything and for the same reason, in order for a business to be more likely to succeed, it must be able to make itself known through the Internet with the help of online marketing strategies.
3. Do not spend all your savings. The real businesses are forming little by little, so you do not need to make a large investment to be successful. However, there are also useful options such as taking loans and credits, as long as you are willing to face the risks that this entails.
4. Seeing profits takes time. In general, for a business to begin to show positive figures, a good time must pass, at least a year at best. So you can not expect to start generating profits shortly after having developed it. This is very important to keep in mind to prevent you from ending up demotivating yourself.
5. Define a good financing model. It is always good to have financial support when you are starting a business. So that expenses can be covered by incidentals and other details. A good way is counting on loans and credits, although not all have these possibilities.
6. Has a partner. A good way to manage a business and support the eventualities that may arise is to have a partner who not only supports the economic but also in the logistics and providing fresh and interesting ideas that give value to your project.

Finally, understand to know of Loans that good or so good are? You should investigate which financial loan houses have the best rates for the client.

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Security and coverage in fast online mini-credits – Immediate loans

Security and coverage in fast online mini-credits

La seguridad y cobertura en los minicréditos online rápidos 300x208 Surely on more than one occasion you have heard about the quick online mini credits and the way in which they can be requested, but you do not know much about the legal security and the legal coverage that you have in them, which is one of the important issues at the moment of requesting urgent mini-credits , since currently there is a large number of these quick credits and it is quite logical that with the urgency with which clients are requested, do not have any doubts at the time of the conditions with the that are acquired and the requirements that are needed to return them.

In spite of this, this does not mean that all these fast online loans have legal guarantees that are very important to offer security to the borrower and can be totally calm of what he is acquiring and especially signing. So do not worry because it is said that, for the ease, speed and transparency with which these products are requested are the safest that can be found in the market today. So let’s know a little more about them.

All about the legal security of mini-credits

Among the main characteristics that can be mentioned about the legal security of mini-credits will have to start mentioning that this type of online quick mini credits are governed by Law 16/2011, which was instituted on June 24 of that year, which was legislated on consumer credit contracts and all those personal loans that exceed 200 euros, ie they are those that have the delivery of small amounts of money and the term of return is quite short, with the difference that the interest rates are a little higher than normal.

With this type of credits that are less than 200 euros the consumer is not forsaken, since it will be protected by the General Law for the Defense of Consumers and User, in addition, if that were not enough if you request the same in a bank or entity that is very reliable, considerably increases the security that is had.

For this the lender or the intermediary is the one who has to carry all the necessary and legal procedures from the time the client makes the request for the credit, this so that all the requirements and conditions are met in advance, this to be totally safe before sign the contract that grants the credit.

Essential aspects of credit security

Within the different aspects that are essential that the client knows before signing a contract to have a better security in their online quick mini credits , one of the main ones is the total amount to be paid, in which the type of credit must be indicated. interest that is going to have for the return of the credit, taking into account that the same one can be a little more of the normal one.
The duration of the contract is another important part in the coverage and legal security that customers have, that is why you should be very clear about the return period that you are going to have, since it is one of the basic data more important.

It is also very important to mention that all the costs of the mini-credit must be clear, that is to say the commissions that are going to be had, as well as the opening costs and the cancellation before the amortization period that has been agreed, since it is quite probable that a commission be generated by doing it before the time.

Final words

Last but not least is the right of withdrawal that customers have, since the law of Spain is regulated until a period of 14 calendar days in which you can desist from it, but the best of all is that without No penalty whatsoever and without having to justify that your decision is due. The lender must also provide a copy of the credit to the client so that he has all the necessary information of his obligation.

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