Is a Personal Loan Suitable for my Business?

Your personal finances and those of your business must always be separated in order not to put your savings and assets at risk. A personal loan to invest in your business a few years ago gave you the benefit of speed. Nowadays, with Financial Technology companies like Dirosher, obtaining a loan for your business is much faster and safer.

You must take into account the needs of your business when applying for a loan. The factors that are analyzed in a personal loan and in a business loan are different and you can have less benefits if you opt for a personal loan and not one specifically for your business.

Business loans

Business loans

If you turn to a bank, time is an important factor. The process you must follow is not as immediate as it is for a personal loan. What takes longer in a loan for business in the bank is the review of documents. This can take up to a month. Financial Technology companies just attack this factor that traditional banking forgets. Dirosher requests your password from the SAT to avoid this long document review process. In this way, all your business activity is reviewed in a matter of minutes and you are given a response within 72 hours. Dirosher can offer you better interest rates according to the needs of your business. All without leaving your home (online), safely and effectively.

It is normal that you feel distrust of online loans. Check our article: How to avoid possible fraud in online loans.

Personal loans

Personal loans

Before, the time when you managed to get a personal loan was much lower compared to the months that the bank took to review all the papers of your business. Dirosher does not have personal loans, so the time in business loans should be competitive. We offer business loans in just 72 hours.

Beware, if you still prefer to request a personal loan for your business, you must separate your finances. Otherwise you can be in serious trouble when paying. The purpose of a loan for your business is to make more money as your business grows, so it is much easier to pay for it. Personal loans are for solving problems at home and your only way to settle them is with your job at that time. That is why the risks and rates vary between one and the other. It is important to separate your finances and not put your equity at risk on both sides.

Solve all your doubts before applying for a personal loan or for your business. You must know the interest rates, the term to pay and if there are commissions that you have to cover. The most important thing is that you feel safe and find the credit that your SME will grow.