Monthly Archives: September 2019

Business plan for your financing: We give you 10 keys – Business Loans

When you consider starting a business, you have a lot of uncertainty, adrenaline and ambition to eat the world. But do not be stunned, take paper and pen and capture all your ideas. The day will come when these ideas will have to be ordered and a business plan or Business plan created.

One of the first needs your business will have will be the need for financing. When that time comes you must have a good business plan. In this guide you will find all the steps to create a good business plan. Keep reading.

The business plan

The business plan

Lets start by the beginning. The business plan is a document that reflects the business activity as clearly as possible and where the opportunities, strengths and weaknesses and threats are analyzed. All the specifications regarding strategy, financial … to carry out the business must also be reflected.

What is a business plan for?

What is a business plan for?

A business plan, above all, and perhaps more importantly, allows the entrepreneur, while it is being carried out, to carry out an exhaustive study and analysis of both his new business idea and the market in which he will operate, and thus achieve a global vision of everything It has to do with your new business. In addition, once the business is established and started, the evolution of the business can be checked by contrasting it with the business plan.

This business plan has a second fundamental objective that is to serve as a presentation to potential investors, collaborators or financing providers. This business plan will help them to know in depth the business idea, its market, its potential … and thus be able to value investing in it or not, or finance the business or not. Therefore, when making the business plan, think of all these people who will want to know more about the business and make it as easy as possible.

How to make a business plan?

How to make a business plan?

Let’s get down to work.

The business plan requires more time than it seems, therefore it is better to get there as soon as possible. We start with the infographic summary and then we will explain a little more each.

What a difference in loans!

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We simply do not want to believe our eyes at first sight. We have always known that there are differences between banks’ loans. What’s more, it’s not surprising that no single loan within a bank falls into a price range. But these numbers surprised us too. Look at you too, then interpret what you see!

The calculator is the key

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If you did not believe that you should use the credit.com calculator , this will definitely change now. We’ve written in several articles how much money it takes to take the trouble and see what kind of credit is right for you.

The calculator can show a lot of things, so it is worth spending a little more time with it, as we have done now. We have seen what happens when the final result of the calculation is not just the cheapest offers. And then now comes the part where you should hang on.

The talkative numbers

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We thought it was a good reflection of what we were talking about when taking out a $ 50 million loan over a 22-year term. This is a large enough amount to show the difference we have made so far. The banks we are just randomly selecting are the same for each bank.

Let’s start with Budapest Bank! The cheapest loan you give us is $ 73,309 per month and a total of $ 19,513,587 that we will repay over a period of 22 years. This is one of the best and cheapest deals on offer from banks.

However, if you scroll down the results, the most expensive bid is $ 95,217 per month. All in all, this means that we will refund $ 25,166,030 to the bank. As you can see the difference is 5.6 million forints. What does that mean?

Being able to borrow at Budapest Bank is very cheap and expensive. So it’s not enough to just count one and see which bank has the cheapest deal and walk into them. Contact us and we will help!

Results of other banks

Results of other banks

As with the bank mentioned above, we have experienced similar differences elsewhere. At Good Finance, say, the two extremes of the monthly installment payment are HUF 77,513 and HUF 95,217. For the total amount, this means US $ 20,484,363 and US $ 25,158,909. The difference here is “only” about 4.5 million forints , but let’s not forget that Good Finance’s cheapest loan will be a million forints more expensive than Budapest Bank’s.

Bank also has some interesting numbers. On a monthly basis, one of their loans is 15 thousand HUF cheaper than the other. And it matters to HUF 71 729 or 86 275 HUF referred to for 22 years. In total, the small monthly difference of 15 thousand HUF swells to almost 4 million HUF . And you could buy so much more from this…

What does all this mean?

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It is quite clear that the differences are due to two reasons. One is the interest period . It doesn’t matter how long our fixed monthly payments stay. The other is that it does not matter what kind of income we have and how we are classified. Because of this complexity, contact us! It is our job to find the best opportunities for you to find the solution for you.

Loans Mortgage calculator

Loans. Free administration of home and personal loans. We are professionals in credit management.

Borrowing without waiting

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National credit administration, at home, at work or wherever you want. Borrowing without waiting, without waiting in line. Mortgage calculator

As a national network of Good Finance:

  • We are available anywhere in the country or, if not, we go wherever you want
  • More than 18 years of experience in credit administration, our credit specialists have the required MNB qualification
  • Safe professional background
  • Almost all domestic financial institution products are available in one place.
  • A universal banking comparison and rating system with just a few clicks
  • Professional support: either in Family Home Discount or in lending matters.
  • Most of our partner financial institutions offer discounts to our clients that are more favorable than branch offers

Home Loans

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  • Consumer Friendly Home Loan
  • Home loan used to buy a home
  • Home loan for new home purchase
  • Home renovation loan
  • Home improvement loan
  • Bridging loan
  • Loan For Land Purchase

Subsidized home loan

  • Subsidized home loan for new home purchase
  • Subsidized housing loan for families with multiple children
  • Subsidized home loan to buy a used home
  • Subsidized home loan for new home purchase, construction
  • Subsidized home loan extension
  • Subsidized home loan for modernization
  • Construction, renovation, extension, modernization
  • Construction loan

Mortgage Loans

Mortgage Loans

A mortgage loan is a mortgage or real estate loan that can help you claim more money from financial institutions. In such cases, the loans taken are usually used for whatever purpose you want, so you can buy an apartment, a car, or start your own business. In most cases, the amount of credit is determined by the value of the property being offered as collateral.

Mortgage loans can include types of loans such as new home purchase loans, used home purchase loans, home construction, extension, modernization or renovation loans, and free use loans, but also debt settlement loans.

Financial institutions work with personalized mortgages

Since all Hungarian financial institutions work with personalized mortgages, which are always determined by the value of the real estate offered, it is worthwhile to look closely at the banks offering mortgages, as it does not matter at what time and at what price.

Provides the debtor with a long-term repayment opportunity

Provides the debtor with a long-term repayment opportunity

A mortgage can be cheap because there are differences between them. When Can a Mortgage Loan Be Cheap? First of all, if it provides the debtor with a long-term repayment opportunity, or if the monthly repayment installments remain fixed over the long term, but at least show only a slight increase. The client is well-known if he / she knows in advance that the installment payment for the given month will be the same the next time.

Since we offer a real estate collateral to the bank when taking out a mortgage loan, it is easy for most domestic financial institutions to obtain such a loan, because in such cases the credit assessment is simple.

Tips if you plan to save in dollars

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Do you want to save ? Do you plan to open a dollar savings account ? Then these tips will be of great help! Pay close attention if you plan to save in dollars .

Save in dollars only if you are completely sure

Save in dollars only if you are completely sure

And you have to keep in mind that what is recommended by experts is to save in local currency since the expenses you will have with your savings will be made in this currency – usually.

If you chose to save in dollars you should consider that the value of this currency is not predictable. This means that if you want to change currency, at some point, the exchange rate can play in your favor or against.

When to buy dollars?

When to buy dollars?

If you have decided to save in dollars even when the currency in which you receive your income is not this, I advise you to change your soles for dollars in the morning. The price of the dollar, in the afternoon or on weekends, when there is not so much movement, is usually higher .

Do not change large sums

If you have doubts about currency movements do not exchange large sums of money for this currency . I advise you that although you have a dollar savings, if you have the opportunity, you also save part in soles . So your money will be safe in case of a sharp change in the value of the foreign currency.

Compare offers well

Compare offers well

It is true that banks in Peru do not offer high interest on account of savings in dollars , in contrast to accounts in soles, but if you have decided to save in this currency, I advise you to compare the offers well. Evaluate the interests that a bank will pay you as well as the additional benefits and decide for the one that is most convenient for you.

Have these tips served you? It is always better to save in the currency in which we receive our salary. And it is in this with which we carry out our expenses. This way you will lose less in the currency exchange. What do you think?

Pay the lease vs. the mortgage loan installment, which one suits me?

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In times when all prices are going up, is it worth going for the dream of housing or is it better to stay in a lease?

These are some points that you should keep in mind

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In the last year, house prices have started to rise and that has raised the question of whether it is worthwhile to buy a property or stay in a lease, and if so, until when.

It is true that due to the current circumstances

It is true that due to the current circumstances

Now you have to be much more careful when borrowing, which involves meticulously assessing what mortgage credit suits you. However, this does not mean that you should say goodbye to your own home.

The general recommendation is that if you are in a solid employment situation, opting for a housing loan will only be convenient if you have a good percentage of the initial fee, that is, from 45% of the total value. This is because when you get the credit, the fees you will pay will be similar to what you would pay for a lease, and since you are already living there, the house pays for itself.

However, you should be very careful with interest rates

However, you should be very careful with interest rates

Since if you choose an option that does not suit you, even if it is a point of difference, it will have a strong impact on the total amount you will pay, because it is a debt that in most cases lasts up to two decades.

If you do not have savings, it is best to wait and seek to save a percentage month by month; also, seeing ways to invest that money will make it grow gradually, bringing it closer to the desired amount. While saving, research very well about the property you wish to purchase, so prepare to be a good buyer.