The unsecured loan is a special non-mortgage financing solution, which allows you to get extra liquidity without guaranteeing any property. The product offered by Banca Monte Paschi di Siena is called Dynamic Enterprise and is specifically aimed at all companies that need money to give new impetus to their activities. In this article we will try to understand how this product works, what are the advantages and the procedures to follow to obtain it.
How does an unsecured loan work?
Before going into detail about the MPS unsecured loan proposals, let’s try to better understand what an unsecured loan represents and how it works. Compared to a common loan that provides for the obligation to present collateral – both a mortgage on the building and a pledge -, the unsecured loan requires only a signature , which therefore represents a written and signed commitment by the applicant.
Similar to a personal loan, the unsecured loan could also be a form of financing aimed at buying a specific asset or, more often than not, in support of a business. The unsecured Hans Brinkers are also offered in the real estate field to refinance a mortgage without having to resort to the need for a second mortgage, however in the latter case its application is decidedly more rare.
On the other hand, although it is not necessary to present real guarantees in support of the loan request, before granting an unsecured loan the bank or financial company proceed to a careful assessment of the applicant’s financial situation to assess its creditworthiness. In case of failure to return the sum granted in credit, the law provides for these Hans Brinker the possibility of remedying the debt with the enforcement of present and future assets of the recipient of the loan.
Unsecured loan with Dynamic Company
Moving specifically to the solutions proposed by MPS, one of the unsecured financing possibilities offered by Banca MPS is called Dynamic Company . This funding is aimed at businesses supporting some activities:
· Have greater liquidity,
· Finance research and development projects,
· Purchase commercial property or machinery;
· Carry out interventions for the safety of workers or for the training of employees.
The amount varies from a minimum of 5,000 euros to a maximum of 500,000 euros , with a repayment plan of a maximum of 10 years . With regard to interest rates , MPS makes it possible to choose between a fixed rate or a variable rate loan .
Unsecured loan with Corporate Restart
For companies with even more specific needs, another MPS unsecured loan solution is represented by the Corporate Restart financing plan. In this case we are talking about a loan intended for companies that want to invest in new machinery and subsidized plants pursuant to the 2016 Stability Law and covered by the “super-depreciation” plan.
The minimum amount that can be financed is 50,000 euros, with a maximum that remains linked to the total cost of the investment by the company requesting it. Corporate Restart also provides for interesting discounts also with regard to interest rates, with an APR variable on a 5.33% basis.