If you look around in newspapers, magazines and magazines you often see the most luxurious lifestyles that can be found in the world. Many people would like to, but are often afraid of borrowing money or investing.
All payday loans direct lenders: Payday loan application & quick approvals
There is a sort of taboo about borrowing credit, many people would rather avoid it. But what if you really want to pursue your ambitions and dreams? Maybe you would really like to set up your own webshop, or maybe you want to take a break from all the work and climb mountains.
Often money is needed for these goals or dreams. So you really have to borrow, not everyone has thousands of euros in his savings account. But what if borrowing isn’t bad at all? What if you can borrow cheaply and without risk? This is possible via the payday loan direct lender at https://bridgepayday.com/ ..!!
What is a payday loan?
A very handy way to get starting credit is by applying for a payday loan. A payday loan is a subordinated loan with a fixed term of 8 years. With this loan you can on one Easy way to get your first credit. As a credit borrower with a payday loan you can borrow up to a maximum of 200,000 euros. Remember, a partial early repayment is not possible. Each lender can only borrow a maximum of 50,000 euros. In 2017, the interest rate on this loan is mounted to a maximum of 2% and a minimum of 1%.
There are various repayment options for this loan. This can be monthly, quarterly, six-monthly or yearly. This is in addition to the one-off repayment after eight years. A payday loan is concluded in a private or notarial deed. The original credit agreement must be registered with Good Lender together with the repayment table if the parties agree. A payday loan is therefore the perfect opportunity to easily get starting capital.
There are two parties involved in a payday loan, these are the borrowers and the lenders. As a borrower there are some conditions that you must adhere to. This measure is therefore only aimed at SMEs that meet the European SME definition. Firstly, the company may not have more than 250 employees. Secondly, the annual turnover may not exceed 50 million euros, the balance sheet total must therefore be below 43 million. Thirdly, the company must meet the established independence criterion.
This criterion means that no more than 25% of the capital or voting rights may be held by one or more large companies. These criteria are considered and based on these criteria it is determined whether you are eligible for the loan. Account is also taken of mutual relationships and possible partner companies. If you as a company exceed these criteria, you will be considered a large company. Non-profit organizations can also be eligible for the loan, provided they perform an economic activity in accordance with European law. There is an economic activity if goods or services are traded on the market.
The lenders are also obliged to adhere to some conditions. For example, the lender must meet certain conditions on the date that the loan is opened. On the date the payday loan is concluded, the lender must meet the following conditions: The person taking out the loan must be a natural person, this must be outside the scope of commercial and professional activities.
The person taking out the loan must also be established in the Flemish Region. It may also not be an employee of the borrower. If the borrower is a self-employed person, then the lender may not be the borrower’s spouse or legally cohabiting partner. If the borrower is the legal person, the lender cannot be a shareholder of that legal person or act as a director, manager or play a different kind of role within that legal person.
The spouse or legally cohabiting partner of the lender may also not be a shareholder. During the entire term of the payday loan, the lender may not be a borrower with another payday loan. So there are certainly some conditions that you must adhere to as a lender