If you are looking for financing for your company and the banks do not lend you, this information is for you:
Currently, banks in Latin America usually provide access to financing to companies with more than 2 years, even some 3, as long as they manage to generate a high level of sales volume and show growth year after year.
However, we know that to achieve this, it is often necessary to have financial leverage and the possibility of relieving cash flow so as not to die trying.
Therefore, we give you 5 tips so that you can access financing as a company with less than 2 years of incorporation in Latin America:
- Organize your finances, no matter if the results are not the best, keep your information up to date and well presented. Financial Statements and Cash Flow, to find out what your real financing needs are.
- Look for a Fintech, normally Fintechs like Efinti provide access to financing to companies with only 6 months of operation in the market and high growth potential. We call this financial inclusion.
- Check your indebtedness, if you have already acquired credit with other entities, try not to raise this indicator to more than 60%. You can also use alternatives such as Factoring to avoid increasing your debt and leverage yourself.
- Establish a policy of provisions to have a cash reserve and be able to withstand any adversity in compliance with your obligations, especially tax and labor obligations.
- Talk to your customers and suppliers about your needs, business is done by people and they understand when your situation is not the most competitive, perhaps you can improve payment and acquisition times or invite them to discount invoices with Efinti to support you.
Share this article with a friend who may also need it and let’s make Latin America a location for financial inclusion!
Efinti: Liquidity without borders.