Service companies are those that do not buy or sell goods, but instead dedicate their activity to providing services to meet the needs of the population. This series of companies provide services in many business fields : finance, health, agriculture, tourism, etc.
These service companies also have to face a series of expenses until the service reaches the consumer, as if it were a product, so the credits for service companies are very important for financial institutions and platforms.
How are service companies categorized?
We have said that the service companies are those whose function is to provide a product (in this case intangible) in order to meet the needs (whether recreation, training, medicine, tourism, party organization, etc.) of the client .
These types of companies can be categorized into three large groups, and depending on the group they belong to, credits will be requested or not for service companies. These three large groups are as follows:
They are those service companies whose activities and benefits are reserved or required of public administrations by the existing legislation in each State. In Spain, when there is the one known by all “Welfare State”, public service companies are those belonging to the following sectors, among others: water supply service, fire service, education service, public transport service, service security, etc.
Private Service Companies
In this case, private service companies are those whose property – shareholders or owners – belongs to private, non-governmental investors. In this way, companies are launched in most cases by businessmen and entrepreneurs whose economic activity belongs to the services sector. Some of the services that we can find are: beauty services, catering services, recreation services, etc.
Advantages of requesting loans from service companies
- Quick request management. Once the SME (or autonomous) has requested financing, our risk department studies the viability of the operation. So in an average period of 48 hours, the company will know if it can finance its project with us or not.
- This means that the company or applicant will get a loan that does not increase their indebtedness, so the amount of financing granted through Augie March will not appear in the CIRBE database.
- There are no amortization fees or expenses derived from the study. The previous study done to the company so that it knows whether or not it receives the financing, is completely free. So that interested in obtaining funding, may decide once the study and conditions known, whether or not you want to continue with the operation. Always for free.
- It does not imply the hiring of additional products. Contrary to what happens in bank loans, when the borrower requests financing, at no time will he have to hire additional services which implies a considerable reduction of the interest payable for the requested financing.