Private equity loans are a type of alternative financing to conventional banking, and they are an excellent option when we need an urgent loan, or when a request for financing has been rejected by traditional entities.
We understand very well that when we look for the extra money we are used to going directly to our usual bank, without imagining the complexity and slowness that this will entail. It is there that private equity companies are born as an alternative, who grant money quickly and without so much paperwork, but above all, without rejecting you for not having an “acceptable” financial profile.
The only requirement for private equity loans is to present a mortgage guarantee or in the case of taxi drivers, a taxi license.
Being an alternative or second option does not detract from the reputation and good practices of private equity firms. This type of financing has been increasingly attractive and reliable, thus earning an important place in the financial market.
Among the most requested product lines is the private capital loan for taxi drivers, keep reading to find out what it consists of.
Private Capital Loan for taxi drivers
In Tu Mejor Préstamo we also have several product lines in response to the needs of our clients, one of them and perhaps the most requested is the taxi license loan. This specific type of loan is intended for the group of taxi drivers who need financing and the only requirement to grant cash is to present their taxi license as a guarantee of payment.
This product is designed to provide liquidity in those moments when it is lacking, either for car maintenance, to cover unexpected expenses, or to alleviate the lack of work due to covid, pay debts, or for other personal purposes. or professionals.
To learn a little more about this product, we invite you to continue reading, because we will give answers to 3 frequently asked questions about the taxi license loan.
Can I continue working with my taxi if I put the license as collateral?
Of course yes. The taxi driver can continue to work normally with his license placed as a guarantee. This means that the taxi driver can continue with his normal activity and generate income normally, but he will not be able to sell the license until the loan payments are made unless the buyer assumes the payment of the debt.
What happens if I don’t pay the loan debt?
At Tu Mejor Préstamo we will make sure to find the best repayment terms (between 12 and 120 months) that fit your payment capacity. But, if for some reason, the taxi driver cannot pay the loan, he could lose his license, and the lender, if necessary, could auction the license to recover the borrowed money.
What steps must be followed to use a taxi license as collateral?
The steps to follow to use a taxi license as collateral through Private Capital as Your Best Loan are very simple:
- Present a taxi license that is free of charges: The taxi license will be used as collateral in the loan, so it must be free of charges and its sale must be possible.
- Present the following documentation: Copy of the DNI, of the taxi license and certificate of ownership and charges of the municipality or corresponding regulatory entity. With these documents, we can start an evaluation by our managers who will respond to your request in less than 48 hours.
- The signing of the loan before a notary: For security for both parties and to formalize the contract, it is an obligation to sign before a notary who will also be an opportunity for the client to resolve any doubts through an impartial authority that is not related to the lending company.
- Present the documents in the corresponding register. But don’t worry, we’ll take care of this.
Do you want to know how much money you can receive? It’s very simple, just go to the Your Best Loan page and request a loan quickly and without obligation. In less than 48 hours our agents will respond to your request and/or provide you with the information you need.