Good Finance has been selected

The Good Finance investment fund selected a new group of entrepreneurs for its Latin America program. Good Lender is one of them.

How does it feel to be chosen by Good Finance for your new batch in Mexico? An emotion like few . Better than finishing the race and receiving the title. Better than beating the invincible teacher. Better than doing the first business. Better. It is evidence that we have opted for an idea and a group of experts bet on it.

What does undertaking a startup imply?

What does undertaking a startup imply?

Opening a startup means facing the unknown. You discover a problem that society is not addressing properly. You create a way to solve it through digital technology . You start dreaming of bringing your solutions to many people. Sounds great. But the point is that, in most cases, you open a business that does not have much experience in the world.

There are not many examples of advisors who want to lower the accounts of many people with mortgage transfers (purchase of credit by another bank) and debt consolidation. It is necessary to experiment and learn, hopefully from the hand of good teachers.

That is why there are investment funds such as Good Finance supporting enterprises. Good Lender was selected for the ninth batch and will participate in its seed program from October of this year.

Support of mentors and investors

cash

We will be in a “batch” of Latin American entrepreneurs who will receive the support of mentors and investors to continue the rapid growth of their companies. In total, the seed program will host eleven entrepreneurs from different countries in Mexico City: two from Peru, three from Colombia, five from Mexico and one from Chile.

Good Finance is a capital investment fund that was born in Silicon Valley. The Latin American office is in Mexico City and has already completed nine calls for the seed program. He has made investments in about 130 new ventures from Argentina, Chile, Peru, Colombia, Mexico and Spain for more than eight million dollars.

Achievements? These companies reach sales above $ 200 million.

About the Good Finance program

About the Good Finance program

The program for which Good Lender was chosen consists of 16 weeks of intense training and strategic contacts with expert people who will help us apply the right tools to grow vertiginously in the region. The idea is to overcome the initial stage and develop our full potential of great company.

Good Lender will have the possibility of putting together expansion plans with Good Finance team members, a network of more than 250 national and international mentors and the global fund.

We will be part of the ecosystem of new companies that grow exponentially!

We will be happy to share our experience!

Family businesses: Crowdlending financing – Business Loans

Family businesses are commercial organizations in which decision-making is carried out by family members, and it is their goal that the next generations of the family take over the company in the future.

Family businesses are in Spain the most widespread type of company within our economic system, making up about 85% of the Spanish business fabric.

According to a study prepared by the Family Business Institute, the average size of these family businesses is about 30 employees, being companies with a long tradition and antiquity, mostly founded in the 1990s.

What is the family business really?

What is the family business really?

When we talk about a family business, although there is no univocal concept, we refer to “one in which a group of unique people through family ties and belonging to one or more generations share part or all of the ownership of the media instrumental and the direction and decision making of a company ”.

Despite the different concepts that we can find around this term, they all have to share at least two objective and related elements. The first of these is the existence of a family bond between the members of the business management; and the second and objective, the existence of a company.

Finance family businesses How to do it?

Finance family businesses How to do it?

According to the latest report by the European Family Business Barometer, in its fourth edition of October 2015, the family business in our country is at its best since 2010. That the family business is at its best is a fact very important for all family businesses, and that is that the expectations of economic evolution and the main business indicators are much more optimistic when they talk about Spanish family businesses than when they refer to those of other European countries. A less encouraging scenario is therefore expected for family businesses.

If we look at the way in which the family business is financed, we see that during the time of crisis, despite the fact that the financing costs of the family business and the non-family business are similar, the former does not contemplate -in a 83 % of cases – other types of financial alternatives.

This indicates that there is a high ignorance of the benefits and benefits of financing alternatives such as crowdlending by family businesses.

So, we assume, many of these companies do not yet know the benefits and benefits of requesting this type of private financing, which in turn is a very convenient alternative financing for family businesses.

Is the financing of family businesses threatened?

Is the financing of family businesses threatened?

During the economic crisis, many non-family businesses were forced to reduce their debt-to-capital ratio due to difficulties in refinancing the debt. This happened especially with SMEs, which acted under the “financial provider syndrome”, that is, SMEs were looking for the bank that gave them the best conditions for each loan, without focusing on one of them, something that did not happen with companies relatives, who sought greater stability.

However, this did not happen in the cases of family businesses, since they are not companies whose objective is to give dividends to their shareholders, reinvest their profits in the company itself. In this way, they maintain their debt ratio at all times. A debt that is usually usually long term and as we have already said, with financial and banking entities.

However, currently non-family businesses also seek long-term financing, and although many are non-family businesses (less skeptical of new investment and online financing platforms), many others seek financing in a much more traditional way. .

What do we mean by this?

What do we mean by this?

Well, it means that the financing of family businesses through banking entities poses a threat to their growth and stability. This is because there are too many companies (family and non-family) that depend on this type of financing, so if there is not enough liquidity to finance family businesses they may be harmed when developing their activity.

Therefore, the problem lies in the existing dependence on the financing of companies in general and the financing of family businesses in particular, with bank financing, which implies a lack of liquidity to finance all of them.

This problem would not be such if we did not take into account the data provided by the latest study of the European Barometer of Family Businesses that we have previously shown: 83% of companies consider only bank financing, twice as much as in the previous study. Only 16% of these companies contemplate financial alternatives such as private equity, Crowdlending, etc.

Credit to BAR Listers: HGTs Loan

The Central Credit Information System (HGTs system, formerly known as the BAR list) is the system whereby banks keep track of “badly paying” debtors. In the case of private individuals, debt may be included in the HGTs list if they are due to a financial institution through loans or leases, reaching a minimum wage of at least 90 days.

The most common types of loans are: personal loan, credit card, home loan, commodity loan (mobile phone, TV, etc.), car loan, car leasing.

Few people know that you can get on the HGTs list even if someone is providing false information in your credit application, using a fake or falsified document and proving it to be fraudulent, or using credit card fraud (eg stolen card, stolen data). These persons will not be removed from the HGTs list.

In the event that someone is added to the list, it is recorded at two levels:

  • An active HGTs list is one that has capital and ancillary costs to the financial institution (eg interest, etc.).
  • A HGTs listed with a passive status is one who has settled all its debts to the financial institution and has no overdue debts to other financial institutions.

If someone has paid off their debt

money cash

It is recorded for another 5 full calendar years and then permanently deleted from the register. So, if someone has paid their debts on April 15, 2009, their first calendar year begins on January 1, 2010 and will be permanently removed from the HGTs list on January 1, 2015.

A common question is whether it is possible to take out loans with active and passive HGTs status. In the absence of real estate collateral, unfortunately, Hungarian banks do not lend to active HGTs listers (in this case, borrowing from Austria is not an option either, as Austrian financial institutions do not look at the BAR list, but real estate of sufficient value is definitely needed). As a passive BAR list, you have more options for borrowing, but most often require a surety.

If you have real estate collateral

If you have real estate collateral

You can take out passive and even active HGTs status. It is worth knowing that only good properties (good for quick sale in case of trouble) are accepted. That’s why there are so-called settlement lists, which list the properties in which a settlement is acceptable. Active HGTs listers usually only get a loan if they pay off their outstanding debt from the borrowed loan. In many cases, financial institutions ask for a non-HGTs debtor.

The financial and credit crisis has shown that banks are losing or severely limiting lending to HGTs listers in the event of lack of money and confidence.

Want to Use Credit Cards Cleverly? These Tips!

Credit cards are magic cards that will make your shopping easier. You don’t have to always carry cash if you want to shop, pay for hotels and make other transactions. By holding this card, the owner can make transactions even though the person does not have any money in the wallet or in the account. So tempting isn’t it?

Credit cards benefit so much for payments. But wait, not always credit cards help your life. This happens if you are not smart and not wise in using a credit card when transacting. Often the convenience and enjoyment offered by a credit card makes users forget the true financial condition. Because it is too easy and profitable, this sophisticated card is able to make you lulled to the point where eventually your debt is mounting.

 

6 Smart Tips for Using a Credit Card for New Employees

Know that this can be the root of serious problems in the future. Of course you don’t want to be chased throughout your life by a debt collector who can ultimately make your life run out? Here are 6 smart tips for using a credit card so that you become wiser in using the magic card.

 

Avoid Minimum Pay Bills

Avoid Minimum Pay Bills

A person who is good at using credit cards certainly knows that it’s not good to keep your bills out for long. The reason is, this will cause a new problem, namely the accumulation of interest accumulated bills. Therefore, it is very emphasized for anyone who holds a credit card to immediately pay all the bills that have been charged to him. Don’t just because of late payment problems You have to lose your valuable assets to cover the swollen debt.

Paying off bills as soon as possible is important, why? By paying all bills, you will no longer have debt. Here you will avoid the interest remaining balance that will be charged to the credit card owner. The interest of the remaining bills will increase if you have not paid the bill when it is due. Later, the interest on the bill will be added to the next debt bill. If at the next due date you still haven’t paid it off, the interest will be added again. This is what will make your credit card bills burden you more.

 

Pay Credit Card Bills Before Maturity Comes

Pay Credit Card Bills Before Maturity Comes

Dare to use a credit card, that means you dare to take risks. One of the risks that you will face is a fine. You will get this fine if you don’t pay the bill when it’s due. Therefore, don’t let your credit card payment be delayed.

Fortunately, there are now several credit card companies that provide easy payment of bills. This facility is in the form of payment facilities that work automatically to make payments from your account or through internet payments within 24 hours. This kind of feature is very important to keep you from being late for paying bills which will result in penalties being imposed. Based on regulations released by Bank Indonesia, the maximum fine is Rp150,000.

 

Don’t exceed the maximum limit for using a credit card

Don

Each credit card issuing institution sets a maximum usage limit for the credit card products it issued. Do not let you violate the provisions they have set, why. Fines will be imposed if the credit card usage exceeds the usage limit. For example, the specified usage limit is IDR 10,000,000. That means you may not shop or pay with an accumulation of more than IDR 10,000,000.

 

Accumulated Credit Can Not Be More Than 30% of Total Monthly Revenue

Accumulated Credit Can Not Be More Than 30% of Total Monthly Revenue

Using a credit card continuously is tantamount to hoarding debt. However, if you are good at using credit cards, you will not make mistakes that make your debt mount. The tip is to use a credit card not to exceed the 30% limit of your monthly income. If you exceed this limit, your financial condition can become unhealthy due to the large amount of income spent paying debt.

 

Wisdom in Buying Items with 0% Installment Interest

Wisdom in Buying Items with 0% Installment Interest

Goods sold on credit have a special appeal for some people. Especially if the installment interest is 0% certainly makes anyone interested in buying it. However, you need to remember that the value of the items you repay can reduce the overall value of your spending. If the value of the item you purchased is IDR 12,000,000 while the credit you have is IDR 15,000,000, the remaining credit usage limit is a maximum of IDR 3,000,000 That is, if your next month’s spending is more than IDR 3,000,000, be prepared to be fined.

 

Wisely in Expending Annual Costs

Wisely in Expending Annual Costs

In choosing a credit card, you should be observant in choosing it. Make sure that your credit card issuing company does not charge an annual fee. Because there are several credit card companies that set annual fees on their products. In this case, you should choose the type of credit card without annual fees.

Such are the tips that we can share with you, especially for those of you who work as employees. Hopefully the information above can be useful and provide insight into using credit cards wisely. Please leave comments and responses in the fields provided below and don’t forget to share the information you get to the closest people. thanks.

How to stabilize personal finances after holidays?

When we return from vacation it is difficult to re-adjust ourselves to our daily life, this includes adjusting finances, making payments and getting back to organizing economically.

Although the ideal would be to plan the holidays so that we do not spend more than we had planned, recreation and moments of relaxation tend to make us spend more, because our consumption, when we are on vacation, is usually much more emotional than rational.

Finances do not correspond to those we had considered

Therefore, generally, when we return our finances do not correspond to those we had considered. Thus, it is very important to recover the balance of these as soon as possible so that the instability that could have been generated in our pockets does not become a permanent financial problem.

First we must make a holiday balance, that is, identify how much we exceed or how much we spend. This will help us to know how much money we no longer have, and how much we need to keep up with the expenses that are still pending from the holidays and with our monthly obligations. In addition, it will help us to know how much we should save to balance our budget.

Know what our budget and our expenses are

Know what our budget and our expenses are

When we are clear on what financial point we are and know what our budget and our expenses are, we should develop a savings plan. This would include a weekly and monthly calculation of how much we can spend in those periods, how much we will save each month to stabilize and, why not, to schedule our next vacation. The plan will help us know when we cannot spend more and what expenses to reduce or postpone.

While balancing our finances it is useful, for example, to make an effort and save a percentage of the salary higher than we normally save. Also: pause the use of credit cards making sure that the debt will not increase, avoid temptations such as going to our favorite stores and checking if our usual expenses are still necessary.

During the process of reorganizing our finances, it is important not to stop making any payments, as we can enter a snowball dynamic in which several debts begin to accumulate. A good practice is to pay the minimum and if we can, pay a little more than we should.

Another strategy is to use the 50/50 trick

Another strategy is to use the 50/50 trick

This is that every time we make an unnecessary purchase, we place the same amount of money we spend on that purchase in our savings or emergency fund. This dynamic is highly recommended when we are in the plan to rebalance our finances, because it allows us to be more responsible for what we should not spend.

Finally, let’s not forget the importance of always having an emergency fund that corresponds to three to six months of our living expenses. When we have additional expenses we usually understand the importance of the emergency fund, as it is a very good way to avoid using the budget of the following months in the post-vacation period.

If during the holidays we get money from the fund, it is time to start replenishing it and let’s not forget that the important thing is not how much we earn, but how we manage and optimize it.