What You Should Know About Financing in Latin America

Before choosing financing in Latin America, you should know that lending restrictions are looser in the region, there are multiple types of financing available, borrowers can select from several currency types and the costs of financing might be cheaper than you expect.

Securing financing can feel like a serious challenge, particularly in the years since 2008 and the economic banking crisis felt around the world. As an increasing number of people struggle to get the loans they need for personal as well as business reasons, they are turning to alternative options like financing in Latin America. At first glance, financing in Latin America seems like a dream come true.

However, be sure to dig a little deeper before making the decision to take out a loan from a Latin American financial institution.

Lending Requirements Are Looser Than in the USA

First, and perhaps most importantly, it is vital to understand that the rumors are true: It is indeed easier to secure financing in Latin America than in the United States.

In North America, qualifying for virtually any kind of loan requires you to have near-perfect credit, valuable collateral and an impressive income as well as employment history.

If you’re missing any of these puzzle pieces, you could be denied financing or given terms that are a far cry from what you truly deserve.

Costs of Financing May be Less Than You Expect

Another key piece of information to keep in mind about financing in Latin America is that the associated costs are often far lower than people expect.

Since the lending restrictions are looser, many borrowers assume they will pay high monthly fees or large application fees. In reality, however, the opposite may be true.

Since the overall cost of living is lower in Latin America, most banks can enjoy lower operating costs. When passed on to the bank’s customers and borrowers, that means affordable fees that can save you money month after month.

Latin American Loans Are Available in Your Choice of Currency

As you begin learning more about financing options around the world, pay attention to the types of currencies that are offered. In the United States, Canada and many European countries, loans are only available in the single domestic form of currency. While that might be fine for some borrowers, it can cause trouble for others.

Many Latin American banks offer financing in a range of currency types, each of which is accompanied by a specific set of terms and interest rates. If you’re buying offshore property, paying bills in a specific international form of currency or you’re using the money to fund a business expansion overseas, then having access to multiple currency types can be a way to save money by avoiding currency conversions.

There are Many Types of Latin American Financing Available

Many prospective borrowers are under the impression that Latin American financing is limited in nature. The truth is that there are a wide variety of financing options in Latin America that you can choose from.

Personal loans are a great choice for those who want to handle unexpected expenses, medical costs or college tuition. Also available are overdraft facilities, real estate loans to buy or build new construction and commercial loans for large and small businesses alike.

Armed with plenty of information regarding financing in Latin America, you will be prepared to choose, apply for and enjoy the best loans for either your personal or business needs.

Caye Bank

Caye International Bank Limited (CIBL) was granted an Unrestricted "A" Class International Banking License on September 29th, 2003 by the Central Bank of Belize and is regulated by the Central Bank of Belize which set the standards for liquidity and capital adequacy.

Finding the Perfect International Investments

Although the benefits and advantages of international investments are abundant, knowing what type of investment to select can certainly be challenging. For those investors who want something with minimal risk but a lot of long-term potential, precious metals like gold or silver could be perfect. Retirees, on the other hand, may get the most practical use out of international real estate. If you want to diversify your holdings without the responsibility of monitoring the market, mutual funds are key. Finally, those who are primarily concerned with protecting assets to leave for their loved ones might gravitate towards international trusts or life insurance policies.

Your Guide to Opening an Offshore Savings Account

An offshore savings account can be beneficial because it protects your holdings for use in an emergency, is a very low-risk investment and is easy to monitor. While these savings accounts can be opened in domestic banks, offshore banks offer diversity, security and stability as well as potentially lower taxation rates and overhead fees. If you want to open your own offshore savings account, start by picking the right location and then the right bank. Be prepared to submit a written and signed application as well as producing identification and financial references as needed.

Investigate the Appeal of Private Offshore Accounts

Offshore investing may not be a new idea in the financial world, but many people still assume that it is primarily for large corporations or executives with millions of dollars. In reality, offshore accounts can be a huge benefit for just about anyone.

What Not to Believe About Investing in Gold

Some of the untrue myths surrounding gold investments include it being financially out of reach, frowned upon by the government, only for conspiracy theorists and risky.