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CashBerry is a financial company, providing an online loan consultation service that is fully automated, disbursed within the day.

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The conditions for applying for a loan at Cashberry

4 easy steps to register for a loan

1
Filling in the registration form
Provide a phone number and fill in personal information. Register and send request for a loan.
2
Getting approval and Signing an Agreement
The approval results will be anounce via phone call. Only need to log in to Personal account and sign an Agreement.
3
Receive money
After the application is approved, our partner will transfer the money to your account.
4
Repayment
Make repayment to our partner according to the instructions.
Loan
Loan
with flexible terms at CashBerry
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum
Get loan
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum

Are you in need of a loan to start a business or start a business today? CashBerry - a financial consultant will accompany and support you quickly, helping you achieve your business goals.

Are you in need of a loan to start a business or start a business today? CashBerry - a financial consultant will accompany and support you quickly, helping you achieve your business goals.

Recently, starting a business has gradually become a trend of many young people. Along with that, financial issues are always the top concern of those who are starting a business. Many young people have cherished unique business ideas but have not been able to implement them due to lack of capital. So how to get the easiest unsecured business loan? The following article will give you the complete answer.

In this article, CashBerry will list the top 10 best banks for business loans, and guide how to borrow for business and production effectively.

In order for production and business activities to run smoothly, capital turnover is always a top concern. Currently, banks are implementing many pre-production loan programs with many incentives, maximum support for businesses, small business households or individuals who want to start a business to expand and develop production and business. . Here is a summary of 10 banks that lend money for production and business you can refer to.

Top 10 best banks for lending money for production and business today

 

Bank

Preferential interest rate (%/year)

3 months

6 months

12 months

24 months

36 months

BIDV

 

 

7.8

8.8

 

VIB

 

8.5

10.4

 

 

TECHCOMBANK

 

7.99

8.29

 

 

TPBANK

 

8.2

9.2

 

 

VPBank

 

8.5

8.6

 

 

VIETCOMBANK

 

 

8.1

8.9

9.5

VIETINBANK

 

 

9.5

10.5

 

UOB

8.17

 

 

 

 

EXIMBANK

 

 

9.0

 

 

HONGLEONG BANK

 

 

7.25

7.75

 

SHINHAN BANK

 

 

8.1

8.8

9.2

STANDARD CHARTERED

 

 

6.49

7.29

8.39

Statistical table of business loan interest rates of major banks in Vietnam

In the table above, we can see that the interest rates on business loans from BIDV are at the best level. This is also a big bank in Vietnam with solid financial strength and experienced care team. Therefore, BIDV bank will be a good choice for customers who are wondering about which bank to take a loan.

In addition to BIDV, Techcombank, Eximbank and Vietcombank are also offering preferential interest rates for customers to borrow for business purposes. Each bank will have different advantages, so customers should find out or call the bank directly for more information.

Why should you get a bank loan for your business?

Currently, the low-interest business loan package is one of the most popular and interested credit packages in many banks. Useful for corporate customers, start-up customers, and individual business customers, bank loans are a quick and easier source of capital mobilization than looking for investors. Flexible loan limit with different needs, to meet the purpose of starting a business or changing production scale.

Normally, small business bank loans will apply the method of calculating interest according to the reducing balance. Compared with the fixed interest calculation based on the principal balance, calculating the interest based on the decreasing balance will help the borrower or organization reduce the debt burden, the pressure of periodic repayment is no longer too heavy. , especially beneficial for those who are wondering if they should get a bank loan for their personal business.

If the market moves in a good direction, they can also enjoy extremely low interest rates. With the use of capital for business, cutting interest expenses to the maximum is a way to help lower costs and increase profits for businesses.

Unlike consumer credit packages, personal business loans usually have long loan terms, at least 36 months and up to 60 months. With such a long period of time, business owners can organize production and business development, create money sources and ensure the ability to pay debts periodically. Moreover, businesses can also borrow from many different banks at the same time as long as they commit to financial ability when making loan applications.

Types of bank loans for business

According to the characteristics of financial proof, there are two forms associated with the conditions of bank loans for business: unsecured loans and mortgage loans.

Unsecured business loan is a form of loan that does not require collateral, customers prove their finances through actual income statements. With this form, banks often require income statements of the business owner or the legal representative of the business. Based on the income statement, the bank will consider and approve the appropriate loan limit. Business loans without collateral are suitable for the capital needs of small businesses, startups or just starting projects.

Mortgage business loans are loans that require information about collateral. It can be houses, land, cars, etc. Mortgage business loans often have lower interest rates than unsecured loans, so they are quite suitable for business purposes that need large, long-term capital and request a detailed capital use plan in the loan application. If you need a low-interest business loan package, a mortgage is always the optimal choice.

In addition, bank loans for business are also divided into 9 lending methods associated with each specific loan case, flexible according to the needs and purposes of the loan.

》 Seasonal loan: A form of small business loan for agro-forestry-fishery business, with a loan limit associated with each specific production cycle.

》 Limit loan: A form of personal business loan where the two parties commit to a certain maximum loan limit, each year will be adjusted one lane depending on actual business needs.

Syndicated loan: A form of loan from two or more banks, for projects or business models that need large capital, helping to answer the question of whether to get a bank loan to prepare financial resources. for tens of billion projects or not.

》 One-time loan: A form of household business loan where the bank will grant credit each time to customers based on the detailed plan of each specific business period.

》 Loan according to the provisional loan limit: A form of personal business loan in which the bank will grant credit according to the previously agreed reserve limit.

》 Overdraft limit on current account: This form of small business loan allows customers to spend more than the amount available on the account for business purposes, for a maximum period of 1 year, Very similar to a credit card.

》 Revolving loan: A form of bank loan for quick business in a short business cycle of about 1 month, customers are allowed to use the principal balance of the previous business cycle for the next cycle.

》 Combined loan: A combination loan of the above loan forms.

Conditions and procedures for borrowing money for banking production and business

Conditions for borrowing money for production and business

To meet the conditions for a business loan at a bank, you need to meet some basic requirements.

》 The business owner or legal representative is a Vietnamese citizen who is full 18 years old or a foreigner lawfully residing in Vietnam.

》 No bad credit history for at least the last 2 years for individuals who are starting a business or for businesses that have been operating in the market for a certain time.

》 It is possible to prove the financial ability of an individual or business organization through high-value mortgaged assets, income statements of business owners. At the same time, the company's financial statements for the past 2 years need to ensure that cash flows fluctuate in a good direction.

》 Accompanied by a detailed, clear and highly promising capital use plan. This is the basis for the bank to consider whether to approve your loan application or not.

Procedures for borrowing money for production and business

Currently, the lending process at banks has been simplified to optimize operations. Accordingly, the low-interest business loan procedure is equally simple and easy. You need to prepare some basic documents as follows:

》 Loan application form according to the bank's form.

》 Identity card/Passport/ID card of the business owner.

》 Business registration certificate of the enterprise.

》 Documents proving financial ability, which can be papers of ownership of mortgaged assets, income statements of business owners, third-party guarantees...

》 Capital use plan.

》 Financial statements for at least the last 1 year.

》 Other documents according to detailed requirements from each bank.

What to keep in mind when taking a bank loan for business?

● Provide detailed and effective capital use plan     

Unlike other forms of consumer loans, business loans always require customers to provide a specific, detailed and transparent capital use plan. Banks always want to ensure that the loan is recoverable, avoiding capital loss. Based on the capital use plan provided by the customer, the bank will determine the most suitable loan limit and interest rate. Therefore, in order to increase the rate of business loan applications to be approved, you need to prepare a clear and promising capital use plan in advance to impress the loan appraisal department. .

● Find out the loan interest rate and how to calculate interest and other expenses     

Since it is a business loan, interest expense is always an important factor. You need to carefully learn about the interest rate, how to calculate the bank loan interest rate and the detailed interest payment method of the loan package you want to use. A loan package for business with many incentives is a loan package with a low interest rate, stable for a long time, with a floating margin with little fluctuation. With these bases, you can apply them to evaluate the most suitable loan products.

In addition to interest costs, non-interest expenses may not be the main reason for deciding whether to get a bank loan, but they should be taken into account.

● Pay attention to the terms in the credit contract     

Pay attention to the terms in the credit contract about loan appraisal fee, authentication fee, secured transaction fee, late payment fee, prepayment fee, etc. These fees are usually incurred in certain cases. which most customers are often subjectively not paying attention to. However, because it is calculated based on your outstanding balance, the higher the loan limit, the less money you have to spend on these loans. Therefore, you need to make sure you understand the rate and case of non-interest charges, avoiding unexpected extra payments.

Above are instructions on how to borrow money for production and business at banks for individuals and businesses with large capital needs. Besides, if you need money for a small business, turning capital, you can quickly borrow money online from 1-10 million. Online loan, app loan, although there is no big limit like a bank, but the disbursement time is fast, the procedure is simple, just need an ID card.

You want a business loan without collateral, want to get money quickly with simple procedures? Don't worry, CashBerry will help you solve your financial difficulties. Right now, click register now to receive instant money!

 

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