Accessing credits for your company with lower interest rates and fairer conditions, without a doubt is a very attractive incentive for anyone. Of course, the owner of an SME must be interested and at least take a look at the possibilities that it may have when accessing our platform.
Taking into account this premise
We hope to receive many requests from SMEs that want to obtain a business credit from our website. However, as in all P2P loan sites in the world, we have to be attentive and work in an analysis process that allows us to know what your payment conditions and possibilities are, know your history in other loans and make sure everything is in order and rule with your company.
Why? To explain it, it is enough to refer to the old and well-known Mexican saying “Clear long friendships”. If we crumble this concept a little more, we can find benefits for each of those involved in the process of a P2P loan:
The people or companies that risk their money in providing a P2P loan
Must be sure that the SME they are lending to has been previously validated by us, and obtained an approval credit rating; that is, it complied with our approval to be published on our platform and thus request resources to fund.
Of course, if you’re asking for money, it’s because you need it. I would even say that most Mexican SMEs need financing to improve their situation. However, a credit should not be taken lightly. That is why our risk analysis will let you know if you are in a position to request money through our platform or if you must improve certain aspects of your company before doing so. Why ask for money you can’t pay? It is better to avoid problems that may put your business at risk.
How can we democratize access to financing and change the credit system that exists in Mexico? With credibility and transparency. In the end, the success stories generated within our platform will be the best publicity we can have. If we make sure that the transactions we mediate are successful, every day there will be more funding providers who are encouraged to lend money and of course, companies that need financing will think of us as an excellent option.
Let’s get to the point
Do you need money and want to order through our platform? These are the criteria that we will analyze so you can take them into account before applying for a loan. Do you not meet the requirements? At least you’ll know what you can change or what you need to do to make it easier for you to go through our risk analysis.
How has your company and the majority partner behaved in the payment of other credits? We are interested to know that they are responsible for paying their debts.
To find out, we will request a Special Credit Report from your company and the “Score” of the majority partner. Both documents must be older than 3 months and are granted by the Credit Bureau. Basically what we will look for is that your company has not had arrears greater than 59 days, nor committed fraud and that the majority partner has a minimum score of 575 points.
Do you think that the information provided by the Credit Bureau is wrong? Have you settled your debts and consider that you can erase your negative history? In this regard, the Credit Bureau explains the following:
History of the payment behavior of each credit
The credit or payment history can be eliminated 72 months from the settlement date, as long as the Credit Grantor has reported the closing date or from the last time it was reported to the Credit Bureau.
The Credit Bureau only deletes records in accordance with the provisions of the Law to regulate Credit Information Companies and the general rules of Banco de México.
Has your company already reached at least 2 years of being legally constituted? It is the minimum time we require for you to request money. Why? This way we will know that you work in a serious company that has managed to stay afloat in its first years, since this is normally the most difficult period.
You will need to verify that your company invoices at least $ 1.5 million pesos annually. We are interested to know that you receive constant flows through your main activity, which can help you cover the monthly payments that are derived from your credit.
We seek reliability in our applicants
That is why we want you to have no pending problems with the law before asking for money. Does your company or majority partner have any lawsuit against it? First solve that situation and if it is in your favor you can request a loan with us.
We have to make sure that you have a valid Mexican bank account in the name of your company in order to receive the loan amount and make payments derived from your loan. A simple requirement that, in case of not fulfilling it, you can solve it quickly.
It may seem a bit strange to you, but we need to validate that both the legal representative of the company and the majority partner exist. We do this by verifying certain voter credential information. It is important to avoid any attempt at fraud; That is why we think of every detail.
We have to confirm that your company is active before the SAT
For this we will ask for a “Proof of Fiscal Situation”, a document that you can obtain in less than 5 minutes from the SAT portal.
We will review the status of your financial statements, your annual statement of the last fiscal period, as well as your bank statements. In this way we will determine if your company has financial solvency to face the monthly payments of the requested credit.
We have to make sure that the corporate purpose of your company contemplates the activity of signing credit titles and verifying that the legal representative has the power to request loans on behalf of the company. For this we will ask you for the charter and the powers of the legal representative of the company.
Finally, we will confirm by telephone that the legal representative of your company and the majority partner are aware of the loan that is being requested on behalf of the company.
Now you know what you need to apply for a loan and pass our risk analysis. Are you not subject to credit? You can work on each of these points to simply achieve it.