2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Lending in the Russian Federation, and not only, can be divided into two areas: retail and lending to legal entities.
Retail lending is represented by the following products:
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Loan type Consumer lending. This type of loan is characterized by the issuance of funds to individuals, employees, for consumer purposes (purchase of household and other appliances, cash, credit cards, etc.).
- Car loans for individuals. This type of loan involves the issuance of funds to individuals for the purchase of vehicles. Basically, banks have a limitation - the inability to purchase special equipment in this way.
- Mortgage. Acquisition of residential or non-residential real estate on credit. It is characterized by significantly lower rates compared to other products, as well as long loan terms (about 10-25 years).
Types of loans in Russia for legal entities
Unlike retail lending, the range of products for legal entities is much wider. Basically, the following types of loans to legal entities can be distinguished:
- Lending toacquisition of real estate. This type of loan enables legal entities to buy non-residential and residential real estate. The difference from a mortgage for individuals is in significantly shorter loan terms (5-10 years).
- Loan for the purchase of vehicles. Legal entities, as well as entrepreneurs, have the opportunity to purchase both cars and trucks, special vehicles.
- Loan for the purchase of equipment - the most popular among organizations. Technology does not stand still, so the emergence of new solutions in the field of production makes it possible to work more efficiently and efficiently. The purchase of such equipment for cash is not available to everyone. The opportunity to buy it on credit comes to the rescue. The main condition for lending for the purchase of equipment is the borrower's own contribution. Sometimes it can be from 20 to 50 percent of the loan amount. The term of such loans is no more than five years.
- Loan for replenishment of working capital. This is a short term loan. The purpose of this product is to replenish working capital (purchase of goods, raw materials, consumables, etc.).
- Overdraft is a short-term loan. A kind of loan without collateral for legal entities and entrepreneurs. The term of such a loan is one month. A prerequisite is the zeroing of the overdraft every month and the revision of the limit. Basically, banks set a limit depending on the volume of turnover on the current account. In other words, an overdraft is an opportunity to go negative on a current account for a certain amount.
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Types of loans to legal entities Factoring as a type of loan began to be offered by bankers quite recently. The role of factoring is to provide the company with cash if the company has sent the goods, but there is no payment for it yet. The seller, on the basis of agreements concluded with the buyer, applies to the bank with an application for factoring. The bank considers the situation and offers to make a concession of payment for the goods from the seller to the bank. The bank pays the seller a certain cost of the goods sold, and the buyer, in turn, settles not with the seller, but with the bank. After the final settlements with the buyer, the bank returns to the seller the rest of the money received for the goods. For this type of lending, the seller pays a certain commission to the bank.
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