Doctor, lawyer, veterinarian, architect. These prestigious professions also need access to credit to finance their projects. A professional loan, as the name suggests, is a loan that can be taken out by professionals like accountants, doctors, journalists, engineers, dentists, company secretaries, surveyors, lawyers, architects, management consultants and professionals involved in consultancy. So how do you get liberal profession credit? Explanations.
What types of credit for the liberal professions?
Get started, strengthen your cash flow, invest to buy new equipment. It is often necessary for the liberal professions to use a professional loan. Depending on needs, several types of credit are available to them:
– conventional credit: the amount borrowed is to be repaid monthly over a shorter or longer period by paying higher or lower interest;
– the cash credit or “account” to meet a temporary need for cash;
– leasing, or rental / purchase contract, which allows, without input from the professional, to become the owner of equipment or rented real estate.
Liberal professional credit, who to turn to?
Many banks or credit organizations offer solutions for the liberal professions. While it may seem natural to go to “your” bank for your loan, you should not hesitate to use competition to find lower interest rates or the most favorable repayment terms.
Besides banks, another solution exists: go through crowdfunding. On the Internet, credit platforms, which rely on a community of investors, offer to meet the financing needs of the liberal professions.
Liberal professional credit, what conditions?
Obtaining a professional loan for the liberal professions requires producing certain elements: in general, you must justify the legal existence of the activity, the nature of the need and present the last three tax forms. Bonds can also be requested.
When it comes to starting a business, the bank can sometimes ask for a personal contribution: it can go up to 30% of the financing of the overall project.
You can get a loan so fast it almost seems instant with online lenders. Loans are approved in minutes, and cash can be in your account within minutes too (depending on your bank). This means no queuing, paperwork, or long wait times with lenders.