In today’s society, lending is a major component of many different life events. You might take out a loan to afford your college education, to pay for medical expenses, to cover a home renovation, to start a new small business or even to buy your family home.
Although financing is not a new idea, international lending can seem like a foreign concept.
However, it is well worth taking a closer look at the viability of international lending, because doing so brings to light a number of advantages that this financial option offers.
It is Easier Than You Think to Secure an International Loan
Post-2008, the lending restrictions for American loans have tightened, making it more difficult than ever before to secure the money you need. Even if you have collateral to offer, you have steady employment and you have a solid credit report, banks make it challenging to get financing.
If you’re self-employed, you want to start a new company or you’re interested in buying property overseas, financing is even harder to get. By applying for loans through international and offshore banks, you may have an easier time getting the financing you need for any of your upcoming ventures, moves or projects.
You Can Borrow From Stable Banks in Secure Locations
International lending can sometimes bring to mind less-than-impressive lending rates, unsecured banks or any number of unfavorable adjectives. In reality, however, that couldn’t be further from the truth. Many offshore banks offering financing are actually more secure than their American counterparts.
Countries like Belize are developed and safe, and they have stricter reserve requirements than the United States. Therefore, your money and your loans will actually be more secure in some overseas banks, making the financing a stress and worry-free process.
International Lending Comes in Many Forms
There is a variety of different lending options out there, and virtually all of them are available through offshore and international banks. If you need overdraft facilities rather than a straight loan, for instance, that can easily be arranged. Or, your business might benefit from secured commercial loans that offer letters of credit, an open line of credit or the capital required to make larger purchase and fulfill big orders.
Personal loans are also an option, and you can specify your financing needs further in order to secure a real estate loan for things like new home construction or renovations on a vacation home for the whole family. It is also possible to borrow money in multiple currencies, which can be helpful for international real estate or business.
Terms and Costs May be More Favorable to the Borrower
Arguably the biggest benefit of all when it comes to international lending is how favorable the terms can be for the borrower.
International banks want to attract new customers and clients, and their financing terms can be competitive with domestic loans. In fact, some banks offer negotiable terms, allowing you to choose the length of the repayment, as well as favorable rates of interest.
Clearly, international lending has a variety of perks. Whether you’re in the market for a substantial corporate loan or financing for a personal project, looking to offshore banks can be the financial answer you’re looking for.
Contact us today to learn more about the advantages of International Banking and lending.