In the case of a corporate loan, the borrower has to differentiate between different variants. At this point, we only want to discuss the four most common options. It refers to
- Operating loan
Both the current account credit and the working capital loan must be secured.
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The current account credit
The current account credit is the commercial counterpart to the credit line. However, the company owner must provide collateral for the current account credit. The Dispo is granted without collateral due to the credit rating.
The current account overdrafts the overdraft on the business account and is only made available at short notice, for example at the end of the month when the company has to pay salaries but bills are still open. Bank overdrafts are also used for the purchase of goods. A long-term use of the overdraft facility is not common in a solid course of business.
The working capital loan
The working capital loan intervenes when the company wants to implement investments. These include, for example, the acquisition of a new production facility, the construction of a hall or a very large-scale purchase of goods. Working capital loans are based on a standard credit agreement with the determination of interest, term, repayment and security.
Factoring is becoming increasingly important again. In factoring, the entrepreneur sells his receivables towards a buyer of his goods to a factoring company. The latter shall submit the sales price to the seller minus the factoring premium and shall receive the outstanding claim from the debtor on the due date of the invoice. Thus, the factoring company grants the creditor a loan. For the company, factoring has the advantage that it receives the sales revenue more quickly and, for example, can pay invoices with discount at another location. Sense of factoring, the purchase of receivables, it is to increase the liquidity of the seller in a timely manner.
Even though leasing is not a classic loan, it legally counts among the loans. The lessee must undergo a credit check. In contrast to a loan, he does not acquire the good, but only the right of use. At the end of the agreed lease term, he has the option to permanently acquire the leased asset at a pre-agreed price, or to return it to the lessor.
The advantage of the lease is that only a monthly installment is paid, at the end of the term the newest product can be used for a new lease contract and all maintenance and repair work can be part of the lease contract. In contrast to a classic working capital loan, however, the user is not the owner of the asset and the leasing rate is, in contrast to a credit, VAT.