Money is a commodity like any other. In different ways, one tries to make as much money as possible on borrowing money, and this is supported by high interest rates that have not declined for years. Citizens’ complaints come from all sides, mainly because citizens abroad pay lower interest rates, up to three percent.
People are hoping that borrowing money from the outside will offer them more favorable terms and turn to suspicious organizations that do not have a work permit approved by the Croatian National Bank. When borrowing money, care should be taken to ensure that matters are regulated legally so that problems and concerns are avoided later. Money lending is often paid off as expressly as loans on the same day.
Fast money lending
Borrowing money involves borrowing a small amount of money with a short repayment period. It is an extremely good option in an emergency when money is needed on time. A quick loan of money is paid out on the same day as the application is submitted.
Considering that they are small sums of money, up to several thousand kuna, an online copy of the ID card and current account, as well as the completed form and the contract are to be downloaded from the websites of the selected credit institution. No certification is required from either the employer or the notary.
Lending money to family and friends
Family members or friends who can in no way refuse to borrow money from banks and credit houses, often turn to their loved ones for help. But it can be a double-edged sword because money has destroyed even the most complex of families. So if someone close to you wants to lend him money, he needs to make a plan to borrow the money.
Similar to borrowing money from a bank or lender, it is recommended that you draft a contract that will regulate the repayment plan. It is best to enter in the contract the date on which the money loan was paid, the amount, the repayment method, the interest rate and the repayment period. If you are unsure how to draft a contract, you can seek the advice of a financial professional or lawyer. It will help you to regulate everything properly and formally resolve the money lending. The contract must be certified by a notary public.
If you are thinking that this does not sound at all friendly, keep in mind that you only want to protect yourself from possible inconvenience if the other party will not be able to repay the loan. You do not want a loan of money to create additional financial problems.
Lending money in the business world
Money lending is common in the business world. Companies borrow money from each other, the owner invests in their company, but companies also lend money to their employees. Money is so constant. When starting a business, it is important to have sufficient capital in addition to a good idea. The lender can lend money to the company himself. This is considered an investment in the company and is regulated by law.
If the owner is unable to lend to the firm, the firm can borrow the desired amount from another firm and thus the loan can be paid off. In contrast, when a legal entity lends to a firm, in this case, when the firm lends money to another legal entity, there is no mandatory statutory interest rate of three percent. Money can be borrowed and there is no minimum interest rate to be satisfied.
Borrowing money from the company
However, if a company lends money to an employee or business owner, the minimum interest rate may not be less than three percent per year. It is the interest rate that a legal entity is subject to when lending money to an individual. If it is lower than the above three percent, it is considered a benefit to an employee who would not otherwise make that profit and should be taxed.