Craftsmen and traders can in certain cases access to the repurchase of credit when they wish to reduce their monthly payments or to finance a project. Access to this type of credit is however very limited.
What is the purpose of buying back credit?
The loan repurchase allows the borrower to combine all his loans into one. A single rate is applied and only one monthly payment is to be reimbursed each month, lower than all of the previous ones. This allows you to find a larger remainder to live each month, by spreading the reimbursement. The repurchase of credit is particularly interesting to allow the financing of a project, because it lowers the debt ratio. Consumer loans as well as home loans are eligible. We can also include in a loan buyout various debts such as a tax delay or rent.
Can artisans and traders take out a loan buyout?
Artisans and traders can benefit from loan repurchase in some cases. The status of craftsman or trader includes trade, creation or craft activities such as the professions of pharmacist, baker, plumber, carpenter, hairdresser or electrician. A special status which, for example, does not allow recourse to an over-indebtedness procedure.
Particularities of the repurchase of credit for craftsmen and tradesmen
The repurchase of credit is possible within the framework of a grouping of personal loans (the repurchase of professional credits is different and proposed by few establishments), in a context of stable incomes, and is very supervised. In the repurchase of personal loan, it is also possible to include additional cash: but again, it will be impossible to use all or part of this cash as a contribution for the company.
Nor to finance goods serving the activity (car used in a professional context for example). Furthermore, if a property is given as a guarantee for the repurchase of credit, this property can only be personal (principal or secondary residence) and must neither be used within the framework of professional activity, nor have a mixed use.
The criteria for a credit buyout for a trader or craftsman
To make a credit buy-back request, the organization usually bases itself on the borrower’s income. Regarding artisans and traders, the lending organization will request the last three assessments.