The microcredit company FinaGuru issues short-term and long-term online loans to individuals. The organization does not have a branch network; it operates remotely via the Internet.
Creditnice is a microfinance company operating since 2013. It specializes in loans with online processing, including to pay for purchases from partners; it also issues virtual credit cards and provides credit lines.
Features of obtaining a loan under a government contract
The term and amount of the loan are determined by the conditions specified in the document, and repayment of the debt is fully carried out upon receipt of payment from the state. Until this point, the client pays only interest.
Contract lending is beneficial to the borrower in that it allows you to keep your own funds in circulation and fulfill obligations at the expense of the bank’s money. Typically, a loan under a government contract is issued without collateral or guarantors; property rights to the loaned object act as collateral.
LLCs and individual entrepreneurs can take out a loan only after they have won the competition and signed a contract. But you can apply at the participation stage, depending on the program requirements. The costs of government procurement can be very impressive, which is why a special loan product has been developed for small businesses.
Conditions of registration
Parameters for government order lending based on programs of three different banks:
- Amount up to $1-5 million
- Duration up to 36 months
- Credit limit up to 70%-100% of the contract amount
- Form of issuance – one-time loan, non-revolving line of credit
- Rate 12-15% (set individually)
- Individual repayment schedule
- Express review of the application
- Money is credited to a current account opened with the creditor bank
- Mandatory pledge of rights of claim under a contract
- Guarantee of business owners and pledge of liquid property (on request)
Requirements for the borrower
Positive experience of the company’s participation in government tenders and execution of similar contracts over the past 1-3 years
The borrower has opened a current account in the bank where the loan is issued
The business has been registered and has been running successfully for at least two years
The organization corresponds to the declared segment in terms of the amount of annual revenue and the number of employees (according to bank regulations)
The client is not on the register of unscrupulous suppliers
Positive credit history and business reputation