A quick payday loan to pay invoices
You must pay the invoice as soon as possible? Can you no longer delay settling your obligation? You do not have enough of your company account at the same time? The solution can be a quick payday loan that you can get today even on the internet. How to choose the best offer and how to reduce the risk associated with such situations?
Many entrepreneurs, especially micro-enterprises and those operating in the SME sector, ie small and medium-sized enterprises, have problems with timely payment of invoices. Often, only a few days of delay in paying the invoice from the contractor or the customer will lead to a payment congestion, ie the accumulation of debts and the transfer of them to subsequent related entrepreneurs.
At the same time, the lack of regular invoice payments may cause difficulties in running business due to the inability to obtain the goods or services needed from contractors to whom the entrepreneur owes money.
Therefore, it is best that every entrepreneur running a business pay invoices on time. Unfortunately, this is not always possible. What can be done when the repayment date is fast approaching, but we do not have the means to do it?
How can a company get additional funds for invoices?
The financial situation of an enterprise is the result of a number of decisions made, but also is related to the business environment and the current market situation. Therefore, it often happens that the entrepreneur is not responsible for his unstable financial situation, because he has no direct influence on it.
This situation is primarily exposed to micro and small companies, as well as new economic activities, for which there has not yet been a large financial savings cushion, and they do not have so many contractors and clients to earn more than large players on market. In this case, the company is more at risk of bankruptcy at the very beginning of its operations.
So what can an entrepreneur do to get additional funds to pay off invoices? There are several ways to get financial support quickly when your company account is empty.
Methods for obtaining funds for the repayment of invoices:
- savings in the company – reducing costs, for example by temporarily reducing orders, switching to a cheaper subscription, moving to a cheaper place, using outsourcing services instead of creating your own departments and employing employees
- sale of owned goods – faster sale of owned goods, even at a lower cost, in order to quickly obtain money, sale of company equipment that is not necessary for operations
- incurring a company loan – thanks to it you can get additional funds for various purposes, including the repayment of liabilities
The quickest way to get additional funds to pay off invoices is to take advantage of loan offers, because the company can then receive money in just one day and does not have to delay paying off its debts. So, what is worth knowing before choosing the best loan for this purpose? We answer all the most important questions!
How to choose the best loan for the repayment of company invoices?
Will the bank or non-bank offer be a better choice?
It is better to take out a one-off loan or choose a bank loan line?
What conditions must be met?
Can a loan for the repayment of invoices be made online?
How to choose the amount of the loan and its repayment period?
What can a company be threatened if it fails to pay its due date?
How can the company’s situation be improved so that borrowing for the repayment of invoices is not necessary?
What loan for the repayment of invoices will be the best?
Basically, a lot depends on the amount to be repaid on the invoices. Is it just around PLN 1,000? Or maybe a dozen or so thousand zlotys? Depending on the amount of the loan, we can then choose an offer that will be the most advantageous for the company.
Currently, entrepreneurs have at their disposal a number of various offers that allow them to quickly acquire the necessary funds for practically any purpose. They can apply for bank loans and those offered by non-bank loan companies. They can also get a loan for a payday or a loan to pay installments. It is also possible to choose the repayment date by yourself, and thus determine the amount of installments.
A good loan to repay invoices should be:
- available immediately – thanks to this you do not have to wait for funds to be received
- cheap – this way the entrepreneur does not bear high loan costs
- on favorable terms – it does not require the delivery of a number of documents or security
- easy to pay – it should have installments in a convenient amount and allow repayment ahead of time
- safe – it should not expose the entrepreneur to additional risk or inconvenience
These requirements are still met by a number of loans offered by banks as well as by non-bank loan companies. So what should we pay special attention to when looking for the best offer?
Better in bank or bank?
Currently, entrepreneurs can get a loan for their activities both at banks and non-bank lending companies. The place of making a commitment is of special importance here because it affects the parameters and terms of the loan.
Most entrepreneurs decide on loans offered by banks. This is due in particular to habit, because it is these institutions that are chosen when financial support is sought. However, it is worth pointing out that also non-banking loan companies have an attractive offer competitive for banks, thanks to which it is possible to obtain the necessary funds quickly, comfortably and safely.
In loan companies, we can also receive payday loans, i.e. loans for a short period – usually one month. They are not available at banks. However, a much better choice is installment loans – both banking and non-bank loans, because they allow for an easy repayment of obligations in installments without bearing as much risk as paying in one installment after a month.
Therefore, it’s best to compare different offers and choose the one that will be the most attractive in terms of terms and costs. Many entrepreneurs are surprised that it is just non-banking that they can get money as easily, much easier than at banks.
A one-off loan or a credit line?
An entrepreneur wishing to take out a loan to pay off invoices may choose essentially one of two offers – a one-off loan or a credit line. What are the differences between these two proposals and what is worth choosing?
We will use the credit line in banks – to have it, you must also have a company account, that is a bank account for the company. The credit line allows you to gain access to additional cash by increasing the balance limit on the account – the entrepreneur can then make an additional debit, that is, pay even if it is below 0 zlotys on the account. The repayment takes place when the money is credited to the account – the repayment is automatic in the part corresponding to the amount of the influence.
A credit line is convenient because it does not generate interest when it is not used. They are paid only on the used line amount, which may amount to up to PLN 500,000 for large companies. The amount of the limit depends on the creditworthiness of the company, which is meticulously examined by the bank. Therefore, it can mainly be counted on by companies operating for a long time in a good financial situation.
Unfortunately, it must be remembered that although the entrepreneur does not have to pay interest on the unused limit, the bank still charges an annual or monthly fee for the granted credit line.
The advantages and disadvantages of the credit line for the repayment of invoices:
- available only at the bank
- allows you to make a bigger overdraft on your account
- does not require every time to apply for funds
- thoroughly tested creditworthiness
- a flexible form of repayment
- no costs if you do not use your debit
- a fee for using the credit line is calculated periodically
The second option is to use an ordinary company loan. It can also be obtained on convenient terms both at banks and non-bank lending companies.
Thanks to the company loan, we can finance virtually any expense related to running business – including invoicing. When making a commitment, we do not have to indicate what we want to spend on. We obtain them on a one-off basis, not in the form of a bank account limit, which also has its advantages, because after paying off the liabilities, we do not expose ourselves to additional expenses.
The downside may be the fact that in comparison with the credit line we must each time apply for a loan. On the other hand, if the company is already in a good financial situation, it will not have to use this option so often. It is also worth noting that the same procedure for applying for company loans is now simplified – we can get them without providing a number of documents and completely online, as is the case with Asperlu.
Advantages and disadvantages of the company loan for the repayment of invoices:
- available in banks and non-bank
- allow you to get access to the selected amount for a given period
- they require a request for funds every time
- repayment follows schedule
- easier to obtain from a credit line
- fees in accordance with the contract – interest rate, commission, other costs
Therefore, when a company does not have a stable creditworthiness built yet, it works in a short time, the most favorable choice for it will be a quick and easy to obtain loan for the repayment of invoices.
Can a loan for the repayment of invoices be made online?
Today, to get a company loan, you do not have to leave the company – you can also apply online. Such a loan for the repayment of invoices can be obtained both at banks and non-bank lending companies.
Obtaining an on-line loan is easy and quick – for this purpose, the entrepreneur must submit an application on the bank’s or loan company’s website. It is worth noting that in the case of bank loans, it is usually necessary to have a bank account for a certain period of time. Thus, the bank’s regular customers can count on the fastest loan – those who do not have their own account can usually submit an online application, but it is still necessary to go to the facility to confirm the data or wait for the courier to sign the contract.
In non-bank loan companies, an on-line loan can be obtained more easily, because it is then available to anyone interested – also for new companies that have just started their business. Such an offer is also available at Asperlu – it is a fast and convenient online loan from the first day of running a business!
Procedure for borrowing for online companies:
- indicate the amount and period of loan repayment on the website
- fill out the loan application on the page
- go through the verification procedure as a new customer
- Wait for the decision to grant the loan – most often you will receive it within one hour
- after confirming the willingness to obtain a loan and signing the contract, the loan is activated
What conditions must be met?
In order to get a company loan for the repayment of invoices or for other business purposes, you do not have to meet excessive requirements at all. Of course, a lot depends on what amount of loan is required by the client – the higher it is, the more conditions will have to be met in order to prove creditworthiness.
When you need a loan for a fairly low sum, for example up to PLN 10,000 to pay overdue invoices, then you can get it most often without even sending additional documents.
At Asperlu the main conditions for obtaining a quick payday loan are:
- economic activity registered in Poland
- no negative entries in the registers of BIG debtors such as InfoMonitor, ERIF or KRD
- permanent address of residence in Poland
You do not have to provide registration, banking or accounting documents to obtain a loan at Asperlu. Security is also not needed, including sureties. This means that the installment loan from Aasa is easily available to almost every interested entrepreneur – from the first day of running a business.
However, if the entrepreneur wants to apply for a higher amount, then it may be necessary to submit the indicated documents in order to thoroughly examine the financial situation of the company. Sometimes, you also need additional security – a surety, mortgage on your property.
How to choose the amount of the loan and its repayment period?
An entrepreneur wishing to get a loan to pay off invoices should always accurately calculate how much money he will need for this purpose, and for how long the loan is to be drawn.
It is best not to borrow too much, unless it is justified and the entrepreneur anticipates that in the near future he will need additional funds related to the business.
It is also important to choose the right repayment period because it affects the amount of the installment. The shorter the repayment period, the installment will be higher, but on the other hand, the loan will be associated with lower costs. With a longer repayment period it is the opposite, that is, the installment will be low, but the borrowing costs will be higher.
When choosing the right repayment period, it is best to calculate the amount to which the enterprise can afford. It should not be too high, so as not to disturb the stability of company finances, because it may bring further problems related to insolvency.
What can threaten a company when it fails to pay the loan on time?
If the company does not repay its obligations within the time limit set in the contract, it may be exposed to considerable problems resulting therefrom.
Even a one-day delay may result in charging contractual interest for late payment, as well as sending paid reminders reminding you that the deadline has been exceeded. The cost of one prompt can be up to several dozen zlotys!
If the company still does not want to settle the obligation, other consequences also appear in addition to the growing interest and penalties. They include mainly:
– debt collection by vindication companies – the debt collector reminds the debtor personally, by e-mail, by phone and by post on settlement of the obligation
– entering BIG, BIK – list on the list of debtors – the company on the list has not only difficulties with taking out new loans and credits, but also is less credible in the eyes of clients and contractors
– bailiff enforcement – after the court hearing in which the creditor wins, the bailiffs may be executed, i.e. taking money from the company’s account, as well as taking over and auctioning of its movable and immovable property to repay the debt
Therefore, when a company wants to make a commitment, such as a loan for the repayment of invoices or for other purposes, it is always necessary to respect the repayment date. Otherwise, this can lead to serious business problems that can even lead to bankruptcy.
How do you protect your company from payment bottlenecks?
Of course, it is best that the entrepreneur does not borrow at all for the repayment of invoices, if it is not necessary. You can avoid this necessity when the company is properly prepared for it. Even a new small company that does not yet have high profits can protect against payment bottlenecks and pay invoices in a timely manner.
First of all, the entrepreneur should have a financial cushion allowing him to get quick access to funds in emergency situations. Therefore, saving in the company is also of great importance – putting aside a small amount allows you to reduce the risk associated with your business. As a result, the company does not have to borrow every time if it is in a worse financial situation.
Control of contractors and clients
It is also very important to choose the right contractors and clients – thanks to this, you can reduce the risk of cooperation with a company that will not regulate payments on time, and thus may lead to payment bottlenecks. You can then use data from debtors’ databases. Reliable contractors and clients paying invoices on time are a significant reduction in the risk associated with their business operations.
Entrepreneurs may also use special tools to support the repayment of invoices. The most popular of them is factoring, which consists in the purchase by the company providing the factoring service of not-overdue liabilities of the company due to their contractors. As a result, the company does not have to worry about overdue payment dates of invoices, because it receives funds from a factoring company that then makes payments from the debtor.
The reduction of the risk related to delays in the payment of invoices may also be the commencement of cooperation with a debt collection company and the purchase of a special preventive seal, which is also referred to as a debt seal. It is nailed on invoices and indicates that if the invoice is repaid after the deadline, the customer or contractor exposes itself to debt collection. Thanks to this, you can reduce the risk of late payments and also minimize the risks associated with the company’s operations.
If the entrepreneur needs funds to pay the invoice, but does not have them on his account, a quick and convenient solution will be to take out a loan – you can get it also non-banking, completely online. All you have to do is fill in the appropriate online loan application, and even the same day you will be able to receive the necessary funds to settle your debts.
However, it is best to protect yourself against such situations, so as not to expose your company to the risk associated with payment bottlenecks. Adequate savings, the selection of reliable and reliable customers and contractors, as well as prevention will help keep the company’s finances in check.
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