Tender loan for securing an application

State orders are a tasty morsel for any company. Who does not want to get a good income without much risk? However, the right to such an order is provided only to participants in tenders or auctions, participation in which involves making 0.5-5% of the funds from the maximum initial value of the lot, while necessarily in cash, in accordance with applicable law.

Naturally, small and medium-sized companies are allowed to withdraw a significant amount from turnover for up to 3 months almost impossible: this brought huge losses for business. That is why banks and credit organizations have developed a special product - a tender loan to secure the application.

What problems can this type of loan solve?

1. The money does not go out of circulation, the company operates as usual.
2. If there is a need to participate in several tenders at once, lending will help to provide security in each of the cases.
3. For the registration of a tender loan, there is no need for a guarantor or a pledge. The package of documents is small, sufficiently financial statements for the period specified in the financial institution, documents for ownership, completed questionnaire and tender data. This helps to speed up the clearance process.
4. Even if for some reason you have to delay the funds for a week or two, you can agree on a small (albeit paid) postponement.

Difficulties in using a tender loan

But is it possible to consider such a form of lending an unequivocal solution of problems? Do not forget that the loan is required from 1 to 3 weeks. During this time, you can skip the beginning of the competition.

Another important aspect that needs to be addressed is the interest rates on this type of loan. On average, Russia officially rates 20%. In fact, you will find out the rate only when you disclose the necessary amount of loan funds and the exact period for which you need them. In other words, prepare for more significant interest that you will have to pay.

If, for whatever reason, the competition takes a few days, you will have to pay extra interest, usually serious. At a minimum, this issue should be stipulated in the contract immediately when the document is drawn up in order to know exactly its actions in an unusual situation.

Participation in competitions helps to achieve a certain status, creates advertising for the company, enriches the client base and brings a good income. However, it is worth carefully weighing your actions in each specific case, considering all the circumstances. Receiving a tender loan to secure the application, the client also receives a number of obligations that must be met exactly and on time.