2017-04-28 13:37:22 | Aasa Poland
In order to obtain a business loan, we must meet the relevant requirements. One of the most important of them is to have adequate creditworthiness, which is calculated on the basis of income and expenses. How do you earn up to the amount of the loan?
When looking for a business loan , we often look at what the maximum amount is. Most loan offers have a fixed maximum amount, but how much we get depends on us, and more specifically on our creditworthiness. It is calculated on the basis of a number of different factors that determine which loan or loan installments we will be able to afford.
When we have high creditworthiness – we earn a lot and we do not have high expenses, for example other loans and credits, maintenance, bills, then we will also get a loan for a high sum. Otherwise, it will be lower and matched to how much you earn. Usually the maximum loan installment amount is approximately 1/3 of monthly earnings.
If you want to find out what cash loan you can get, it’s best to use special loan calculators. However, let us remember that they only give the approximate result, and everything is dependent on the bank or non-bank company we submit your application to.
For example, if we have a minimum wage, we can count on a loan of about 5,000 to as much as 20,000 PLN depending on the offer, without any additional collateral. Of course, the higher your earnings, the higher this limit will be, but let’s not forget about the burden and family situation. To calculate the ability, the following data is taken into account: monthly family income, number of people in the family, and fixed monthly expenses.
The higher the number of installments, the higher the business loan
Remember that the maximum loan amount also depends on the number of installments. When we want a higher sum, the best solution will be a cash loan, because then we can spread our debt into smaller installments that are easier to repay. If we took a break, then we would have to repay the whole in one installment, which would be a heavy burden on the household budget.
If we want to borrow a larger sum, we can usually adjust the amount of the loan to our financial capabilities. In Aasa Poland you can do it on our home page, where there is a special loan calculator. When we do not earn a lot and spread the amount for a larger number of installments, then we will be able to get a loan more easily than if we would have chosen a shorter repayment period.
Can we get a business loan without earnings?
Unfortunately, this is usually not always possible. At present, both banks and loan companies require clients to have permanent sources of income, for example from a contract of employment, pension or annuity.
When we do not make money, we can get loans from some non-bank companies, but then we have to prepare for very high costs to pay.