Getting a loan being autonomous or SME is not an easy task but there are always options and not all are known, the majority of people in this group are unaware of the operation and usefulness of Reciprocal Guarantee Societies. These are a type of entities where you can apply for a loan.
Most of the freelancers dont know..
More than half of the freelancers do not know the SGR, this is partially justified because they are located in large cities and almost half of the Spanish freelancers are out of them. Another factor is that they do not have infrastructure, they do not have physical offices where the applicant can go, as is the case with financial institutions and, really, these should be the ones that directed their clients to the same SGR. On the other hand, those who know them believe that they are instruments with little utility and that it is not an optimal way to get a guarantee or credit.
Well, according to the data of the Spanish Confederation of Reciprocal Guarantee Societies, 77% of the operations requested by freelancers were approved in 2013, a recount that has been made through the data of the 23 Reciprocal Guarantee Societies of the country.
We must know that these societies are not beyond the reach of the central government, they also depend on it, so they must achieve objectives and comply with the solvency ratios required by the Bank of Spain so it will not be easier to get money than in a Bank although a little more secure at the time of approval.
Lack of documents or financial structure to SME and freelancers
A considerable problem is that SMEs and freelancers generally go to these types of societies late or stay halfway due to lack of documents or a financial structure. That is one of the reasons why the SGR themselves ask for more collaboration from the Public Administration, while letting them know that they are associations that facilitate credit in this group.
The self-employed who know this system are not very convinced and also demand the improvement of the structural model of the SGR, as well as greater public funds for them and thus improve their effectiveness.