The search for loans to protesters and bad payers with an individual company leads many workers to seek someone to act as their guarantor in order to obtain a loan: in fact, unlike permanent employees who can count on the guarantee of the payroll, the obtaining a capital is much more complicated for individual companies, especially if there are reports in the databases consulted by the financial companies due to missed payments or checks protested in the recent past, for which access to credit becomes very difficult. The best solution would be to be removed from the registers and then request a loan, but very often the need for liquidity is immediate and you absolutely need a loan for bad payers and protested with an individual company : in this guide we will see all the possible solutions in this regard, with the necessary premise that without very strong guarantees it will be almost impossible to obtain a sum of money from a credit institution or financial company.
What does individual company mean?
Let us first clarify what it means to be a sole proprietorship, since maybe not everyone has a clear definition: in this way we define that type of company that refers to only one owner, that is the entrepreneur, for which he is the only responsible and also the only promoter of his entrepreneurial initiative.
The sole proprietorship is considered the least burdensome and simplest way to start working on its own, since no particular bureaucratic requirements are required except for the opening of the VAT number, and it is the condition, if not privileged, often inevitable to carry out a whole series. of professions. From a financial point of view, this means that the professional or entrepreneur in a VAT number puts his personal resources as the only asset available to the company, and from this very often the need to obtain credit derives. But what to do if you run into financial problems? Here it becomes necessary to apply for loans for protesters and bad payers with a sole proprietorship, in the form of a subsidized loan, or much more often of bank financing.
What are the possibilities of subsidized loans?
The considerations and information given below apply to general guidelines: in fact, there are a series of subsidized loans for start-ups and individuals with a VAT number, both when starting up their own business and when they have already been created but need anyway of capital. There are essentially two ways to go, namely:
- Honor loan
As far as the first aspect is concerned, there are indeed opportunities to obtain solidarity microcredit to help those who are in financial difficulties, which differs in part from traditional microcredit, designed to finance an activity without a need for liquidity that exceeds 25 thousand euros. Instead, this solidarity microcredit, designed especially for those who have had protests or is a bad payer due to financial problems, makes it possible to obtain an amount of up to 7,500 euros with a maximum amortization plan over 5 years, at a subsidized rate of 3%, provided to natural persons who appear morally able to engage in a project to develop their own potential, which also passes through the conscious use of money, so as to start a business or overcome temporary difficulties that involve themselves or even their family.
The honor loan
Now let’s see if among the loans to protesters and bad payers with an individual company we can also consider the loan of honor for young entrepreneurs, reserved for unemployed people aged between 18 and 35, capital distributed through the Invitalia agency for half for a grant and for the other on favorable terms. The honor loan is actually designed for those who want to open a business with a sole proprietorship, but the evaluation of the loan application is up to the agency, so the presence or absence of negative reports on the financing could affect the acceptance of the request. For other types of specific financing for the professional activity, such as internationalization and digitization, they can be implemented with the help of European funds, so it is necessary to present certain additional guarantees with the credit institutions that supply them.
The loan with bills of exchange in the absence of a pay slip
The easiest way to get loans to protesters with a sole proprietorship is to turn to the financial companies that provide loans with bills, since in the absence of pay slips and with negative reports at their own expense it is often the only viable solution. The bills of exchange are credit instruments such as drafts or I will pay that allow the issuer of the security to obtain the corresponding sum of money indicated by the security within the established term, otherwise the attachment of the debtor’s assets to recover the agreed capital back. The bills of exchange, to be considered valid, must be countersigned by the debtor and certified by a special stamp.
To obtain the financing, the individual firms must carry a series of documents in support of the application, which generally appear to be the following:
- Copy of the identity document of the company owner
- Health card or tax code
- The VAT number
- The Chamber of Commerce inspection, a document containing all the information and data relating to the individual company present at the Chamber of Commerce
- The tax return submitted in the last year, if not in the last two
In addition to this standard documentation, further requests can be added by the funding body, additional guarantees that go to accompany the issue of bills of exchange. Some financial companies, for example, require that the VAT number has not just been opened, but that it has already been active for at least 2 or 3 years, so it is even harder for new professionals or entrepreneurs to obtain the necessary capital in the event of protests or reports like a bad payer.
The cost of the note loan
The so-called loan or exchange loan has financial conditions that are not always advantageous due to a higher interest rate than the market average, so it is always good to get more quotes and evaluate the actual convenience. Furthermore, alongside the signing of the loan agreement with bills of exchange, it is compulsory for protesters and bad payers also to combine an insurance policy on the life of the applicant, or in some cases even the stipulation of a specific insurance cover against the risk of failure to pay bills issued. However, there are also advantages in the loan with bills of exchange, depending on the type of institution to which one turns, such as the opportunity to move the date of the bill issued to postpone the payment, through a simple agreement between the parties.
Personal loan with ancillary guarantees
Contacting a traditional bank to apply for loans to protesters and bad payers with a sole proprietorship necessarily involves the presentation of the accessory guarantees that reinforce the position of the reported in end-to-end knowledge company. For professionals and entrepreneurs with VAT, the following are required:
- The presence of a guarantor, who replies with his own assets in the event of the insolvency of the loan applicant
- Ownership of valuable and immovable property, which is instrumental to the working activity or merely personal, on which the credit institution can rely for a compensation of the capital following the eventual non-fulfillment
In the presence of such forms of guarantees, one could actually have a concession of the capital required and considered necessary for the development of one’s individual company.
Ask for a loan with guarantor
Having negative reports as protesters or bad payers, and in the absence of pay slips, the least complicated way to try to obtain capital is to rely on a guarantor who has a solid financial position and a proven credit standing to ask for a surety: being a double signature financing, this third figure, which is generally a family member, assumes the responsibility to settle any amortization installments not regularly paid by the principal holder, within the term established with the financial company or credit institution.
The documents of the guarantor to be presented to the financial company or to the credit institution must prove the sustainability of the depreciation, so the guarantor should:
- Being an employee with a permanent contract
- Not having any other financing in progress or if he has it must be able to support the new debt
- Have assets or real estate as a further guarantee (optional)
- Not to be reported as protested or bad payer
Property of furniture and buildings
Another way in which you can try to apply for loans for bad payers with a sole proprietorship at a bank or financial institution is to offer your assets as collateral, whether it is a property or movable property that can be as much the result of personal assets as closely connected business activity: this is possible ask for a mortgage on the property or offer the guarantee of a recovery of the disbursed capital and the interest through other assets made available. The disbursement of money is strictly connected to the estimated value of the assets and to the possibility of being able to effectively retaliate on what is made available by the applicant under warranty.
Undoubtedly, the absence of an envelope complicates not just the provision of a capital, however some concrete possibility of loans to protesters and bad payers with individual companies as we have seen is feasible, provided you make available or real guarantees that can strengthen its position, or by relying on bills of exchange that with all its pros and cons represent a type of financing that is more accessible for those who have suffered financial problems and do not have a pay slip. It is worthwhile for entrepreneurs and professionals in VAT, especially among the youngest, to try to advance requests through the channels of microcredit or loan of honor, loans at favorable conditions that can help set up a start-up, a individual enterprise or even simply to solve its economic problems in its most solidary version, like the microcredit offered by a network of institutions to those who are more in difficulty.