Applying for a loan is an increasingly common practice these days. An individual microentrepreneur is one that invoices 5 thousand reais a month or up to 60 thousand reais a year.
In addition, he can not be the owner or partner of another company and may have only one employee who receives the floor of his category or a minimum wage.
A MEI is also exempt from federal taxes, such as CSLL, IPI, PIS, Cofins and Income Tax, since it is framed in the National Simples.
Typically, a microentrepreneur needs the means to grow his business, which often leads to a loan.
One of the advantages of being formalized as MEI is the acquisition of a CNPJ, which ensures that the entrepreneur has some benefits that large companies do not have. One of them is the agility and the reduction of the bureaucracy for the acquisition of credit with financial institutions.
And this happens as a form of incentive by the federal government for small business owners to invest in their businesses and expand their business.
How does the loan?
The interest and installments of a loan to MEI vary according to the financial institution.
Before you think about applying for any type of credit with a financial institution, a microentrepreneur needs to gather all the documents that can prove their current situation and what the purpose of the loan will be.
The next step is to look for a company or bank that is safe and reliable in order to know all the possibilities and reduced interest rates especially for MEIs.
Such interest may be different at each location. So, it is essential that the entrepreneur research a lot about the suitability of the companies and all their payment terms.
After that, the documents presented undergo a credit analysis that makes the loan for MEI possible or not.
What are the advantages of this type of loan?
Loans for entrepreneurs have reduced interest rates.
One of the biggest advantages of this type of loan is the low interest rates for MEIs as long as they can prove that they will use the money to invest in some way in their companies.
This investment can be made in the infrastructure of the company, as in the purchase of equipment, reform and increase of footage, for example. However, it can also be used in the hiring of labor, in the purchase of raw material, as working capital, among others.
How to hire a loan?
The presentation of documents is necessary in the act of contracting a loan.
Before hiring a loan, it is essential for the microentrepreneur to do extensive research on all available financial institutions. There are some companies that are not reliable, so you always have to know everything you can about unknown companies.
Despite this, there are several well known credit institutions in the market. The main tip at the time of the choice is to carry out a verification with the Central Bank to know if the company in question is safe and reliable.
After that, the MEI needs to search for the best available rates for the number of parcels desired and the desired amount.
Most lending sites for entrepreneurs have a simulator, where this type of information can be obtained without much effort. Thus, it is easy to choose the one that best fits the user profile.
Some documents need to be submitted at the time of contracting loans to MEI, such as the Simplified Certificate of the Commercial Registry or the Individual Microentrepreneur’s Condition (CCMEI), CPF, RG, proof of residence of the owner and his company.
Some other documents may also be requested depending on the financial institution. Therefore, it is fundamental that the entrepreneur inquires with the chosen establishment to know what it should present.
Although bureaucracy is reduced to microentrepreneurs, there is one option that has even fewer constraints on such a loan. Microcredit is offered at a lower value than the loan, however, it does not ask for the submission of so many documents.
The amounts granted and interest rates also vary according to the lending institution. And, similar to the loan, microcredit needs to be contracted after extensive and thorough research.
What are the precautions when taking out a loan?
An MEI needs to take some care when it comes to taking out a loan.
There are some cautions that any business owner needs to take when hiring a credit for their business. Some of them may seem simple, but if ignored, they can sink any idea.
The hiring of a loan requires the submission of some documents and one of them is something that proves the need for the credit in question.
For this, the microentrepreneur can make a detailed project that involves all the points where the money will be used and how will be done its application. It is also important that results from this credit be projected and measured.
Another tip is to detail the separation between the money of the company and the entrepreneur. The unification of these can make a brilliant idea fail quickly. This rule also applies to loans. That is, these need to be used exclusively for the company and not for the personal life.
Creating a cash flow spreadsheet is a great option for the MEI to plan for the day-to-day payment of the installments of the credit that was contracted.
Finding out which lines of credit are available for each type of profile can also make it easier to hire the intended loan.