Loan, funding or investor: how to get better terms
Where to start when you need money or a partner
By “financial services and investment” people mean different things: a loan against security, a business loan for a sole proprietorship or company, finding an investor, or a partner who takes a share in the business. Each option has its own terms, so first decide what exactly you need and why.
Through BlaBlaPrice you don't call lenders and intermediaries. You write one request. Financial advisers, consultants and companies reply with offers in the chat: on what terms, at what rate or share, which documents are needed. It is free for you.
What to compare besides the rate
The yearly interest is only part of the picture. Ask each one to spell out the total cost: processing fees, insurance, valuation of the security, legal costs, penalties for early repayment. Two offers with the same rate can give a different total payback.
If you are looking for an investor, compare not just the sum but the share they ask for, their role in the business and the exit terms. A partner with money but no experience in your field can sometimes cost more than a smaller contribution from someone who knows the market.
What to put in your request
- What you need — a loan, a loan against security, business funding, finding an investor or partner.
- Amount — how much you need or how much you are ready to invest.
- Term — for how many months or years.
- Security — property, a vehicle or none.
- Who is applying — an individual, a sole proprietor or a company, whether there is a documented income, and how the credit history looks.
- Purpose — what the money will be spent on; for an investor, also the stage of the business and turnover.
- Rate or share — what is acceptable to you.
- City — yours or where the security is located.
Example: “I need a loan against my flat in Melbourne, $17,000 for 2 years, to expand my cafe. I am a sole proprietor with documented income and a credit history without delays. Rate up to 14% a year.”
How to weed out unreliable offers
In finance it is especially important to check who you are talking to. Ask whether the company is properly registered and check this, for example, on your central bank's website. Be wary if you are asked to pay upfront “for processing” before you have seen the terms of the agreement.
Read the agreement in full and ask about anything unclear before you sign. In complicated cases, such as security over property, it is worth talking to a lawyer. On BlaBlaPrice you can see reviews next to each offer, and the offers are checked for spam and fraud. But do the final check of the terms yourself.
Related questions
If your request is about accounts and taxes for your own business, look at accounting services or bookkeeping for sole proprietors. Other business directions are collected in the “Business services” section.
You open contacts only to the one you choose, and only by the channel you choose yourself. To see how it works, visit the “How it works” page.
