GETTING YOUR FINANCING

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Financing is the action of providing financial resources (money) for a project, a business or any other activity requiring funds. In other words, it is the means of obtaining the money needed to do something.

Why is financing essential?
Financing is crucial because projects have enough cash to cover all their costs. 

YOUR FINANCING APPLICATION: 5 PRECISE STEPS

Stage 1: Preparing your application

Description: This first stage is crucial and consists of assembling all the documents and information needed to support your application.

Detailed project: For a company, this would include a business plan, financial forecasts and a market study. 
Financial documents: bank statements, payslips, tax returns, balance sheets and profit and loss accounts (for companies).
Proof of identity and address: identity card, proof of address.
Any collateral: Information on assets that can be used as collateral (property, financial assets).
Objective: To provide a complete and transparent overview of your financial situation and the viability of your project, in order to reassure the lender.

Step 2: Analysis by an expert

Description: Once the application has been submitted, it is examined in detail by a professional from the financial institution (banker, financial analyst).
Process :
Analysis of the soundness and profitability of the project: For businesses, this involves studying the relevance of the market, the business model and the management team.
Risk assessment: Identification of the potential risks associated with the financing and your situation.
Objective: To determine the feasibility of the financing and the appropriateness of granting the loan based on the organisation’s internal criteria.

Stage 3: Approval from the organisation / Creation of the loan offer

Description: If the analysis is positive, the financing organisation gives its agreement in principle and formalises its proposal.
Content of the loan offer: Amount of finance granted.
Interest rate: Fixed or variable.
Repayment period. Amount of monthly repayments.
Specific conditions: Application fees, compulsory or optional insurance, required guarantees.
Repayment schedule: Details of repayments over the term of the loan.
Important information: The asterisk at the bottom of the image (« *subject to acceptance by a banking partner ») indicates that even if the initial organisation agrees, there may be a final validation by a partner bank, particularly if the organisation is a broker or intermediary.
Objective: To present the precise terms and conditions of the financing to the applicant.

Stage 4: Acceptance of your offer

Description: After reading the offer, the applicant decides whether or not to accept it.
Careful reading: It’s crucial to read all the clauses in the offer (rate, charges, insurance, early repayment penalties, etc.).
Reflection period: For certain types of loan (particularly property loans in France), there is a legal reflection period before you can sign the offer, to give the applicant time to make an informed decision.
Signing: Acceptance is formalised by signing the loan offer.
Purpose: To validate the mutual agreement between the applicant and the lending organisation, making the loan contract definitive.

Step 5: Release of funds

Description: This is the final stage, when the funds are actually made available to the applicant.
Once the offer has been accepted and all conditions precedent (if any, such as obtaining insurance or a guarantee) have been met, the organisation transfers the funds.
The funds can be paid directly into your bank account, into an account dedicated to the project (notary for property, supplier for a specific purchase), depending on the terms agreed.
Objective: To enable the applicant to carry out their project or cover their financial needs with the finance obtained.

When you apply for finance, you are making a commitment. Financing must be repaid and you must check your financial capacity before applying for financing. Financing commits you financially and you need to weigh up all the financial impacts before making any application.

A loan is a commitment and you must repay it. Please check your financial capacity before committing yourself.