Should You Consider Financing in Latin America?

Offshore BankingBoth businesses and individuals can require financing, or lending, at various stages. When a business is just starting and needs capital to get off the ground or is ready for the next stage of expansion, financing is often necessary in order to move ahead. Individuals, on the other hand, require financing for things like educational loans or even a mortgage on a primary residence or vacation home.

Whatever you need financing for, Latin America might be the place to find it. Investigate some of the benefits of seeking out financing in Latin America.

Financing in Numerous Currencies

One of the biggest reasons borrowers turn to Latin America for financing is because loans are available in numerous currencies. If you live, work or operate a business in North America, you might wonder why a foreign currency loan is necessary.

However, it is important to note that the currency of your loan will influence interest rates. Often, loan terms are more favorable to the borrower in a different currency. Additionally, you might be retiring or buying a property overseas, in which case having loans in a new currency is incredibly helpful.

Looser Lending Regulations

After the economic downturn in recent years, loans have been harder to qualify for in many countries. Whether you want to buy a home or start a business, banks require larger down payments, more collateral and better credit ratings before they are willing to lend you money.

Overseas, these lending regulations are not as strict. If you are having trouble securing financing domestically, you might find the whole process easier in an offshore location in Latin America such as Belize.

Variety of Lending Options to Choose From

There are a number of different loans that you can choose from, and each will offer varying interest rates, repayment schedules and total amounts. In Latin America, you might be surprised at just how many of these loan options are available to you. State-run banks, private financial institutions and venture capitalists are all opportunities for you to acquire the funding you need. There are also commercial loans, private loans, educational loans and more, each of which offer variable terms to meet your needs and your budget.

Lower Costs of Borrowing in Latin America

Finally, keep in mind that any loan comes with costs. Every bank has to pay for their staff, the risk of lending money to borrowers and a whole host of overhead expenses. In countries where the cost of living is high, like Canada or the United States, banks will naturally charge higher fees for things like loan application fees, the cost of asset management and more.

In order to save money on closing costs and fees, it may be worth looking into financing from Latin America. Thanks to a lower cost of real estate, labor and overhead in places like Belize, borrowers can expect lower fees and a chance to save money on their next commercial or private loan.

Whether you need financing for a business venture or a personal investment, a loan from Latin America may be the perfect option for you. Find out more today.

 

About this author


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.