LOANS TO BUY LAND

The main advantages of alternative financing over bank financing are becoming increasingly apparent:

• FlexibilityThe wide range of products offered by non-bank financing allows for greater adaptability, taking into account the business model and the needs of each project.

• SpeedThe speed in speeding up procedures is significantly higher. This is due to the fact that the vast majority of procedures can be carried out online and response times are shorter. This is essential for companies in this day and age.

• AccessibilityAlternative financing allows different types of projects to be given a chance, even if they involve a higher risk.

Many SMEs, start-ups and entrepreneurs do not meet the strict requirements of banks in these situations. Alternative financing is therefore essential for the fate and foundation of these businesses.

• Requirements and conditionsAlternative credit platforms charge a service fee or even allow negotiation of the conditions, while banks try to complement the operation by linking the credit to other financial products that make it more expensive and tie the customer to costly links.

• Application for guarantees and collateralBank financing will generally require the presentation of collateral or guarantees; this is an exception in the case of non-banks.

• Information in CIRBEIn contrast to obtaining financing from a bank, there is no obligation to report transactions to CIRBE (Central Credit Register of the Bank of Spain).