Renewable energies: what return on investment?

Do you want to make an investment in renewable energy to reduce your energy bills by investing in solar panels or insulating your roof? Both projects are profitable over 20 years, but well-oriented solar panels are always more profitable.

Solar panels are profitable after 5 years in the Brussels region, after 7 years in Wallonia and after 16 years in Flanders, while the thermal insulation of the roof of your house is at best after 17 years in the Brussels region and after 20 years in Flanders and Wallonia.

Renewable energies to save money

Renewable energies to save money

There are many renewable energies to save energy today. Besides the fact that there is more and more global awareness towards the protection of the planet including the organization of COP21, it is also possible to make considerable savings and thus reduce your expenses.

There are different ways to reduce your energy bills. You can renovate your home so that it consumes less energy, or you can invest in sustainable or less energy-intensive sources such as solar panels. But which of the two is the most advantageous for an average family?

Ecological renovation of your home

Ecological renovation of your home

An investment of around € 7,900 in roof insulation work (attic space) will reduce your energy bills by around 30% and will be profitable after 17 to 20 years, faster in Brussels thanks to subsidies.

The main energy expenditure of households is devoted to heating. Insulation is therefore the point to focus on when renovating your home. This will reduce your need for gas or electricity and reduce your bills. The roof is the main point of heat loss, leaving warm air to escape in winter and the outside heat to enter excessively in summer. The losses by the roof represent between 25 to 30% of total losses.

An average family of 3 in Belgium consumes on average 15,720 kWh 4 per year in heating and hot water. Investing in the thermal insulation of the roof of his house would allow this family to reduce by about 30% its energy consumption, less than 10,000 kWh per year. The cost of interior roof insulation and gyproc finish would be around € 7,900 (installation done by a professional) for a house with an average roof area of ​​88 m 2.

An investment of € 7,900 in such a project will only be profitable after 17 to 20 years. For an average family, the annual savings on the gas bill varies between € 292 and € 490 for the first 20 years taking into account the increase in the cost of energy, ie an average annual saving of € 383.

When is my investment profitable?

When is my investment profitable?

Since roof insulation subsidies vary by region, profitability also varies:

  • In Brussels your investment is profitable after 17 years: The average premium is 20 € / m. The premium paid for the insulation of a roof of 88 m2 will then amount to € 1,755, making a great contribution to an ecological renovation project. The return on an investment of € 7,900 is around 1,11% over 20 years.
  • Your investment is profitable after 20 years: You benefit from a premium of about 6 to 8 € per m2. For a roof of 88 m2 the amount of the premium will amount to 614 €. The return on an investment of € 7,900 is around 0.25% over 20 years.
  • In Wallonia Your investment is profitable after 20 years: You benefit from a premium of € 5 / m2, the total amount of the premium being limited to the insulation of a maximum surface of 100 m². Thus, you can benefit from a premium of 439 €. The return on an investment of € 7,900 is around 0.13% over 20 years.

Invest in solar panels

Invest in solar panels

An investment of € 8,000 in 100% efficient solar panels has an average yield of 4.4% over 20 years, the latest being higher in Brussels and Wallonia.

Solar panels are generally an excellent investment in the future. They allow you, after amortizing their costs, to benefit from free energy after deduction of certain regional taxes and not to be responsible for discharging into the environment.

Solar panels require a considerable initial investment. Thus, it is estimated the required investment for an average family of 3 consuming 3,500 kWh to 8000 € (cost of solar panels with a power of 4 kWp 9 to cover the consumption of 3,500kWh). By investing a sum of 8,000 € you will have yields and a return on investment different by region.


Student Loan

Mastering the Left Left Back is not easy at all. In addition, studying today is becoming more and more expensive. So if you do not have wealthy parents and still want to graduate, you often have to go to college because of a poorly paid brigade or think about the possibility of a student loan.

What are the benefits of student loans?

What are the benefits of student loans?

The advantage of student loans is primarily lower interest. It is usually around 10% p. Also, the maturity period varies from 1 year to 10 years. Banks also allow for so-called deferred repayment, when you return money only after studying or when you reach a certain income. Student loans are usually tied to age and the boundaries are usually from 18 to 30 years.

Arrange a student loan online Arrange a loan

Arrange a student loan online Arrange a loan

Thus, not everywhere, they require student status throughout the repayment period. Somewhere you just need to provide proof of study only when applying for a loan. This confirmation is required instead of the usual receipt. If you have no income, the bank will in most cases require co-applicants, such as one of the parents. However, it also depends on the amount of the loan itself. If you apply to Česká spořitelna for an amount of up to CZK 100,000 and you have sufficient income, they will not want you to be co-applicants. For loans over CZK 100,000, the co-debtor is always required.

10 Key Steps to Getting a Small Business Loan

Small business loans are available from a large number of traditional and alternative lenders. Small business loans can help your business grow, fund new research and development, help you expand into new territories, improve sales and marketing efforts, engage new people and even more.

This article presents 10 key steps to getting a small business loan, with tips and information on the loan process.

1. Understand the different types of loans available to small businesses

1. Understand the different types of loans available to small businesses

There are several types of small business loans. The options vary depending on the needs of your business, the length of the loan and the specific terms of the loan. Here are a number of small business loan choices:

  • Small Business Line of Credit. As part of a small business line of credit, your company can access the lender’s funds as needed. The amount of accessible funds will be capped (for example, $ 100,000), but a line of credit is useful for managing a company’s cash flow and unexpected expenses. Setting up the line of credit generally pays, but no interest is charged until you use the funds. Interest is usually paid monthly and the principal used on the line is often amortized over several years. However, most lines of credit must be renewed each year, which may result in additional fees. If the line is not renewed, you will have to pay it in full at that time.
  • Financing accounts receivable.  line of credit for receivables is a credit facility secured by the customer’s accounts receivable (AR). The AR line allows you to get cash immediately based on the level of your accounts receivable and the interest rate is variable. The AR line is paid as customer accounts are paid by your customers.
  • Working capital loans.  working capital loan is a means of borrowing used by the company to finance its day-to-day activities. Companies use these loans to manage fluctuations in revenues and expenses due to seasonality or other circumstances of their business. Some working capital loans are not guaranteed, but companies that have little or no credit history will have to pledge the loan or provide a personal guarantee. Working capital loans tend to be short-term loans of 30 days to 1 year. These loans typically range from 5,000 to 100,000 euros for small businesses.
  • Term loans for small businesses.  erm loans are generally fixed-rate (for example, USD 250,000) and are used for commercial operations, capital expenditures or expansion. Interest is paid monthly and the principal is usually repayable within 6 months to 3 years (repayable over the life of the loan or with a lump sum payment at the end). Term loans may or may not be guaranteed, and interest may be variable or fixed. They are good for small businesses that need capital for growth or large one-time expenses.
  • Small business loans SBA.  ome banks offer small businesses attractive, low-interest loans guaranteed and guaranteed by the United States.  mall Business Administration  SBA). Due to the SBA guarantee, the interest rate and repayment terms are more favorable than most loans. Loans range from € 30,000 to € 5 million. However, the lending process takes time and imposes strict requirements on eligible small businesses. Visit the SBA website to see a list of 00 most active SBA lenders.
  • Equipment loans.  mall businesses can buy equipment through a loan of equipment. This usually requires a down payment of 20% of the purchase price of the equipment, and the loan is secured by the equipment. Interest on the loan is usually paid monthly and principal is generally amortized over a period of two to four years. Loans can be used to purchase equipment, vehicles and software. The amount of the loans normally varies between 5,000 and 500,000 euros and can generate fixed or variable interest rates. Equipment loans can also sometimes be structured as equipment leases.
  • Credit cards for small businesses. Although some business owners are reluctant to use them, small business credit cards can also be used for short-term financing for small businesses. Interest rates vary depending on the issuer of the credit card, the amount available on the card and the creditworthiness of the cardholder. Many small business credit card issuers require the principal owner to be co-responsible with the corporation. Many credit cards offer promotional introductory rates of 0% for a short period (6-9 months).

More lenders than ever are ready to lend to small businesses.


2. Search for available lenders

2. Search for available lenders

More and more lenders are ready to lend to small businesses, and many of them can be found from a simple online search. Here are the main types of lenders:

  • Direct online lenders.  number of online lenders make loans to small businesses through a relatively simple online process. Well-known companies such as wift Capital  rovide very early cash advances to small businesses, orking capital loans and short-term loans ranging from € 5,000 to € 500,000. Sites like undera  nd endingTree  ives you access to several lenders, as a lead generation service for lenders.
  • Large commercial banks.  raditional small business market lenders are banks such as Wells Fargo, JP Morgan and Citibank. These tend to be slower with stricter loan underwriting criteria.
  • Local community banks.  any community banks are eager to lend small business loans to local businesses.
  • Loan sites between counterparts.  here are a number of sites that act as intermediaries between individual and institutional lenders and small borrowers. These lenders can make decisions relatively quickly.
  • Bank lenders backed by SBA guarantees.  number of bank lenders issue SBA-backed loans and, as noted above, this guarantee allows them to offer more favorable terms.

Predict how the lender will review your credit profile and risk profile

3. Predict how the lender will review your credit profile and risk profile

In the end, lenders wonder whether or not they are lending to a small business based on the credit and risk profile of the borrower. Lenders will consider he following factors. Therefore, review them carefully and consider taking any appropriate corrective action:

  • Credit score / credit report.  enders review your credit history, credit score, and timely payment history for credit cards, loans, and supplier contracts. So, examine your credit report and clean up any imperfections you can.
  • Outstanding loans and cash flow.  he lenders will review your outstanding loans and debts to determine that your cash flow will be sufficient to pay the existing borrowings and bonds, as well as the new loan being considered.
  • Assets in the company.  enders will examine the company’s assets (particularly short-term assets such as cash and accounts receivable) to determine whether there is a good asset base to use in the event of loan default.
  • Time in business.  enders will tend to favor companies that have been in business for several years or more.
  • Investors in the company.  enders will see the company more favorably if it has professional venture capitalists, strategic investors or leading angel investors.
  • Financial state.  enders will review your financial information as outlined in the section below.

Make sure your financial statements are in order

4. Make sure your financial statements are in order

Depending on the size of your loan, the lender will carefully review your financial statements and your books. So make sure they are complete, correct and complete, including balance sheets, income and loss statements and cash flow tables. The lender will analyze your cash flow, your gross margin, your debt ratio, your accounts payable, your accounts receivable, your EBITDA, etc., so be prepared to answer your questions. Consider asking your accountant to review your financial statements to anticipate problems that a lender might raise.

Lenders prefer audited financial statements by a certified public accountant (CPA). But many small businesses do not want to bear the costs of an audit. One solution is to “revise” the financial statements by a CPA (cheaper and faster). However, some lenders may not need audited or revised statements.

5. Gather detailed information for your small business loan application

5. Gather detailed information for your small business loan application

If you want to get a small business loan, you must be ready to provide detailed information and documents about your business. It is important to be prepared and organized. Here is the type of information often required, depending on the type of loan:

  • Company name (including database administrators)
  • Federal tax identification number
  • List of the members of the management and their antecedents
  • Legal structure (such as LLC, company S, corporation C)
  • Financial statements for the last two or three years and financial statements for the current year (balance sheet, income statement, income statement, shareholders’ equity)
  • Forecast financial statements (so that the lender can get a sense of your expected future cash flows and operations)
  • State filings for the company, such as a certificate of incorporation, deposits of foreign companies and certificates in good standing
  • Copies of key insurance policies and liability
  • Amount of the requested loan
  • Corporate credit report (for example from a credit reporting agency like Dun & Bradstreet)
  • Potential guarantee available for loan
  • Financial statements of the main shareholder / owner of the business (especially in the event that a personal guarantee is required)
  • Business plan, executive summary, or company investor presentation (see ow to create an ideal launching platform for start-ups )
  • The company’s tax returns for the last 2-3 years (signed copies with all attachments and exhibits)
  • Bank statements

ee also 5 questions that venture capital investors will ask start-ups.

6. Be prepared to specify the amount you want to borrow and the intended use of the proceeds of the loan.

6. Be prepared to specify the amount you want to borrow and the intended use of the proceeds of the loan.

The lender will want to know how much money you are looking for and how the loan proceeds will be used. Will the loan be for the purchase of equipment or capital expenditure? Expansion or rental? Increase in stocks? Improved sales and marketing efforts? New research and development of technology? New product development? Expansion into new facilities or new territories?

You may want to borrow a little more if you are having financial difficulties that last a month or two. You must avoid defaulting on the loan.

7. Determine what security or guarantee can be provided

7. Determine what security or guarantee can be provided

A lender is primarily concerned about the borrower’s ability to repay the loan. To the extent that a lien can be given to the lender on the assets of the company (equipment, property, receivables, etc.), the borrower should be able to increase his chances of obtaining a loan on favorable terms. Some lenders may require the personal guarantee of the main owner of the business. It is best to avoid this as much as possible because it endangers the personal assets of the owner, not just those of the company.

8. Analyze the key terms of the proposed commercial loan

8. Analyze the key terms of the proposed commercial loan

To make sure that the proposed business loan makes sense for your business, you need to analyze the key terms a lender offers and compare it to the terms available from other lenders. Here are the key terms to review:

  • What is the interest rate of the loan and how can it vary over time? Many loans vary over time depending on the “prime rate” in effect or the IBOR.
  • How often are interest payments payable (weekly or monthly)?
  • When is the capital owed or how is it amortized over the life of the loan? You must be comfortable with combined interest and principal payments from the point of view of cash flow.
  • What is the loan setup fee?
  • What other costs or fees are charged (such as sales charges, administration fees, loan processing fees, etc.)?
  • What are the operating covenants imposed on your company (such as the maximum debt ratio or the minimum cash threshold held by the company)?
  • What are the circumstances in which the lender can call a default on the loan?
  • Is there a security or warranty required?
  • What periodic reports or financial statements must be provided to the lender?
  • Are there limits to using the proceeds of the loan?
  • Can the loan be paid in advance without penalty? And if there is a penalty, is the penalty reasonable?

Check your profile and ads online

9. Check your profile and ads online

A small business lender will perform a due diligence, which may include an analysis of the information available online about the business and its primary owner. Therefore, perform the following review, providing for such due diligence to see if you need to make any changes or deletions to your online presence:

  • Check your company’s website. Is it up to date and professional looking?
  • eview its presence on LinkedIn, Facebook, Twitter and other social media sites.
  • eview the Yelp reviews your business has received.
  • heck out the main owner’s posts on LinkedIn and other websites.

0. Learn more about the small business loan process

10. Learn more about the small business loan process

The more you learn about small business loan options and procedures, the more likely you are to succeed in getting a loan. Here are some additional articles to consider:

  • 8 Things to Look For Before Choosing an Alternative Loan Solution
  • uaranteed business loans: how do they work exactly?
  • ired of being turned down for small business loans? Here’s how to get the money you need
  • tips for getting a small business loan


Small business loans are available from many lenders with a myriad of choices tailored to the financial situation of your business. By anticipating what these lenders will consider and demand, you will greatly increase your chances of getting a small business loan.

We choose for you: Housing Loan

Mortgage processing often resembles the fight with windmills. If you have enough of Don Quixote’s endless battle with the bank, try an alternative in the form of a targeted housing loan. It will be great for you if you need a few hundred thousand sums.

The advantage of housing loans over mortgages lies in their simplicity. To obtain a loan, you only need to prove your identity and have a steady income. This is a total nerve balm compared to an administrative marathon when arranging a mortgage. In addition, there is no concern with property liability. The problem may be the limiting amount of the loan, which does not exceed one million crowns. Some companies even allow the use of part of the money inefficiently, for example, you can spend up to 20% of your loan on senku without asking.

The purpose loan is cheaper

The purpose loan is cheaper

The question of why take a special-purpose loan is creeping. The answer is simple. From the point of view of banks, these are less risky loans, so they have lower interest rates, so they come out cheaper than conventional loans. Sometimes even a few percent. However, the housing loan is not provided by all banks. In vain, for example, in Zenku or MayeBank and many others.

What can I pay with a loan?

What can I pay with a loan?

The purpose of the loan is strictly limited. The money can be used for reconstruction, purchase of new kitchen cabinets, built-in wardrobes, purchase of cooperative share, purchase of a garage, new swimming pool, purchase of household equipment, or purchase or construction of real estate. However, it always depends on the conditions of the particular institution. For Commercial bank, the investment in equipment must not exceed 50% of the total loan, Era goes further. It does not allow the purchase of computer equipment or black electronics.

Popular purpose loans are those that allow you to dispose of money on the day of signing the contract. Invoices and other documents are delivered back to the bank.

Examples of housing loans

  • Senku Loan for Better Housing starts at CZK 100,000. The maximum amount is not limited, but over 600 000 CZK you have to guarantee real estate. Payments can be spread from one year to twelve years. The Bank provides an interesting interest rate from 7.9%.
  • Raiffeisen Bank lends up to one million for housing without paying management fees and negotiating a loan. Funding can be extended up to 6 months from signing the contract.
  • With us, installments can be extended to 10 years. The bank lends from CZK 100,000. The drawdown of the loan takes place either once or the bank sends the money directly to the sellers.

Amortization of the loan with Microsoft Excel

Are you a student? Did you know that Amazon offers students 6 months of Amazon Prime – free two-day shipping, free movies and other benefits -?

This is the first of a two-part tutorial on depreciation schedules. In this tutorial, we’ll see how to create a depreciation schedule for a fixed rate loan using Microsoft Excel and other spreadsheets (the next part explains how to handle additional capital repayments and also includes an example of a spreadsheet. calculation using these same examples of data). Almost all of this tutorial also applies to virtually all other computation programs, such as Open Office Calc and Google Document and Spreadsheets. Spreadsheets have many advantages over financial calculators for this purpose, including flexibility, ease of use, and formatting capabilities.

You can download the sample spreadsheet or follow the example and create your own.

Fully depreciable loans are quite common. Examples include mortgages on housing, car loans, etc. Generally, but not always, a fully depreciable loan requires equal payments (annuity) throughout the life of the loan. The loan balance is fully withdrawn after the last payment. Each payment in this type of loan includes interest and principal payments. It is the presence of the payment of the principal which slowly reduces the balance of the loan, possibly to 0 €. If additional capital payments are made, the remaining balance will fall faster than expected in the loan agreement.

An amortization table is a table showing each loan payment and a breakdown of the amount of interest and principal. As a general rule, the remaining balance will also be displayed after each payment.

Calculation of interest and principal in one payment

Calculation of interest and principal in one payment

Let’s start by reviewing the basics with a loan example (if you already know the basics, you can go directly to Creating a depreciation schedule):

Imagine that you are about to take out a 30-year fixed rate mortgage. The loan conditions specify an initial capital balance (the borrowed amount) of € 200,000 and an APR of 6.75%. Payments will be made monthly. What will be the monthly payment? What proportion of the first installment will be interest and what will be the principal?

Our first priority is to calculate the amount of the monthly payment. We can do this more easily by using Excel’s PMT function. Note that since we make monthly payments, we will need to adjust the number of periods (NPer) and the interest rate (Rate) to monthly values. We will do it in the PMT function itself. Open a new worksheet and enter the data as shown below:

Recall that the PMT function is defined as:

PMT (Rate, NPer, PV, FV, Type )

where Rate is the interest rate per period and NPer is the total number of periods. As in the illustration, we calculate the rate with B4 / B5 (0.5625% per month) and NPer is equal to B3 * B5 (360 months). PV is entered as -B2 (-200,000, negative because we want the answer to be a positive number). You can see that the monthly payment is € 1,297.20. (Note that your actual mortgage payment would be higher because it would likely include insurance and property tax payments that would be routed to an escrow account by the mortgage company.)

This answers our first question. We must now separate this payment into its main and interest components. We can do it by using some simple formulas (we will use some integrated functions in a moment):

Monthly interest payment = principal balance x monthly interest rate

Monthly Principal Payment = Monthly Payment – Monthly Interest Payment

Using these formulas, we can see that the interest component of the first payment would be:

Interest on the first payment = 200,000 x 0,005625 = 1,125 €

and the main payment is:

Main in 1st installment = 1,297.20 – 1,125 = 172,20 €

Note that the sum of interest and principal is the total payment amount:

1,125 + 172.20 = 1,297.20 €

This is the case for each payment over the life of the loan. However, as payments are made, the principal balance decreases. This in turn means that the payment of interest will be lower and the payment of the principal will be higher (because the total amount of the payment is constant), for each successive payment.

Using built-in functions

Using built-in functions

We have now seen how the capital and interest components of each payment are calculated. However, you can use some built-in functions to perform the calculation for you. These functions also facilitate the calculation of capital and / or interest for any arbitrary payment.

The two functions of the Finance menu that we will use are: IPMT (interest payment) and the PPMT functions (main payment). These functions calculate the amount of interest or principal paid for a given payment. They are defined as:

  • IPMT (Rate, Par, NPer, PV, FV, Type)
  • PPMT (Rate, Par, NPer, PV, FV, Type)

Thus, using our data above, we can calculate the amount of interest from the first payment with:

= IPMT (B4 / B5,1, B3 * B5, -B2)

and we get € 1,125. The principal amount in the first installment is:

= PPMT (B4 / B5,1, B3 * B5, -B2)

which gives 172,20 €. These answers correspond exactly to those we have calculated manually above. Note that in both functions, we specified that Per (the payment period) is 1 for the first payment. We would specify 2 for the second payment, and so on. We will obviously use a cell reference in our depreciation table.

Excel does not have a built-in function to calculate the remaining balance after a payment, but we can do it quite easily with a simple formula. Just take the starting balance minus the principal paid during the first payment and you will find that the balance remaining after a payment is 199 827,80 €:

Balance of capital after the first payment = 200 000 – 172.20 = 199 827,80 €

Create a depreciation schedule

Create a depreciation schedule

As stated at the beginning, a depreciation schedule is simply a list of each payment and a breakdown of interest, principal and balance. For this loan, a depreciation schedule for the first six months would look like this:

The first thing to do is configure the table starting with the labels of A8: E8. Now, in column A, we want a series of numbers from 0 to 360 (the maximum number of payments we will allow). To create this series, select A9, then choose Edit »Fill» Series from the menus. This will launch the Series dialog box. Fill it exactly as shown, then click the OK button.

At this point, we are ready to fill in the forms. Start with the principal beginning in E9 with the formula: = B2. This will link it to the main balance shown in the input box. Now select B10 and enter the formula:

= PMT (4 € B / 5 € B, 3 € B * 5 B €, -2 B €)

and you will see that the monthly payment is € 1,297.20 as shown above. In C10, we will calculate the interest portion of the first payment with the following formula:

= IPMT (B € 4 / B € 5, A10, B € 3 * B € 5, -B € 2)

The main part of the payment can be calculated, in D10, with:

= PPMT (B € 4 / B € 5, A10, B € 3 * B € 5, -B € 2)

Finally, we calculate the balance in E10 with the following formula:

= E9-D10

Check your results against those listed above, being careful to type the formulas exactly as shown (the € are important because they freeze cell references so that they do not change when we copy the formulas). Once the results in row 10 match the image, copy the formulas to the end of the array in row 369. (Note: the simplest method is to select B10: E10, then double-click the Auto Fill button handle in the lower right corner of the selection, which will copy the formulas to the end of the current range, defined by the last data point in column A.)

You can now go to the entry field (B2: B5) and modify the loan conditions. The depreciation schedule will be automatically recalculated.

Make the depreciation schedule fancy

Make the depreciation schedule fancy

Just for fun and some features, I had a bit of fun using IF statements, conditional formatting, and creating a graph that shows the balance remaining in time. Although these items are primarily for appearances, they also improve the functionality of the spreadsheet. I will review each of these points one by one.

Using IF statements in formulas

The formulas we have entered above for payment, interest, principal and remaining balance will work most of the time. However, they can give brilliant answers in certain circumstances. For example, after the last payment, the remaining balance can be displayed as 0, but Excel might think that it is actually something like 0.0000000015. This is due to several factors, including how computers calculate (in binary instead of decimal and conversions are not always perfect). It is therefore useful to adjust the results of our formulas once the remaining balance is small enough to actually be 0. If the remaining balance is small enough, I will tell the formulas to treat it as 0. To do this,, I use the Rounding function to round the remaining balance to 5 decimal places to the right of the separator. The table below shows the formulas to enter in B10: E10, and then copy them to the end of the table.

Again, the only change is that the formulas first check whether the remaining balance is essentially zero. Otherwise, they normally calculate. If so, they return 0 instead.

Use conditional formatting to make it pretty

Remember that we have implemented this spreadsheet so that it can process a maximum of 30 years of monthly payments. What would happen if the loan term was less than that (for example, 15 years)? Well, you’d end up with a bunch of lines with zeros after the loan repayment. Ugly.

We can solve this problem with the conditional formatting feature built into recent versions of Excel. Basically, we would like to make these “empty” cells disappear. It would be nice if we could highlight the last installment as well.

Start by selecting cells A10: E369, because we will apply formatting to all at the same time. Now go to Format »Conditional Formatting in Menus. This will launch the following dialog box.

Note that I defined two conditional formats. The first (Condition 1) is the most important. It sets the color of the blank text for all cells after the last payment. This effectively hides them, but the formulas are still there. We can determine if a cell is after the last payment by comparing the payment number (in column A) with the total number of payments (B3 * B5).

I use the “Formula Is” option, select it from the drop-down list, and enter the formula: = € A10> (€ B € 3 * € B € 5) and enter it exactly. The € A10 is a relative reference, so the next row goes to € A11, then to € A12, and so on. Now, press the Format button and set the font color to white.

The second conditional format simply highlights the latest payment. In this way, we get a visual signal that we have reached the end of the table. In this case, we will use almost the same logic, except that we test to see if we are at the last payment, rather than after. Press the Add >> button to add this condition. The formula is: = A10 € = (B € 3 € * B € 5). Again, type it exactly. Now, press the Format button, go to the Border tab, and set an underlined border.

Press the OK button to finish formatting and return to the spreadsheet. It should seem that nothing has happened. Now, replace the value in B3 (the number of years) by 15. Scroll the spreadsheet and you should see an underline after the payment 180 and all the cells below are empty. Cool huh?

Create a chart

The last improvement I made is to create a chart that shows that the remaining balance is decreasing over time. Basically, all you have to do is select A8: A369 and E8: E369, then create an XY scatter plot. I have a little imagined with a real-time chart title and a scrollbar, but I’ll leave these features to another tutorial. The final result is presented below.

Christmas loans are popular with people. What to watch out for?

Among the Czechs, Christmas loans are popular, they borrow much more often than in other periods. But indebtedness for unnecessary things is not very reasonable. Although the new Consumer Credit Act introduced a regulation in the form of a stricter assessment of creditworthiness, the current survey of the Chamber of Executors of the Czech Republic shows that some people borrow repeatedly for Christmas, while in the past they faced execution. Therefore, always consider carefully whether you will be able to repay the commitment and, above all, avoid using dubious offers that are full of Christmas before Christmas and which promise quick help.

People borrow repeatedly for Christmas

People borrow repeatedly for Christmas

In November, the Czech Chamber of Executors conducted a survey on loans associated with Christmas. It showed that the number of people considering the loan fell by 6% y / y – from 19% to 13% last year. Although this is a favorable trend, the high proportion of people borrows Christmas repeatedly despite the fact that they have had problems with payment ethics in the past and even faced execution. However, the Czechs have the desire and desire to diversify their Christmas, indulge in something more and make themselves or their loved ones happy. According to experts, the trend is reflected in greater interest in loans than in other months. “In November and December, demand for consumer credit is increasing for all lending companies. If the client chooses a provider that thoroughly checks its creditworthiness, the risk of being unable to repay is minimal, ” says Robin Stránský, marketing manager of TOMMY STACHI, a Czech company that provides fast and secure consumer loans. “The average number of applications for non-bank financing in the Christmas period is 2-3 times higher than during the year. The amount of borrowed loans is also rising, although there is generally less dramatic growth, ” confirms David Bouda, Chairman of the Board of Directors of the Association of Non-Bank Credit Providers.

Be sure to choose a provider

Be sure to choose a provider

Just like holiday loans or new electronics, pre-Christmas loans are in most cases superfluous. “People should continually create a financial reserve for planned and unexpected expenses. After all, if they want to get into debt, it is important to consider whether the repayments will not disrupt the payment of usual expenses, such as rent or energy, ” warns Miles Stephanie, CFO of Astro Financial Group. If you want to apply for a loan, be sure to take some time to think and avoid offering untrusted companies that promise quick help before Christmas. According to the Czech Chamber of Executors, some companies and usurers even provide loans without a contract. Definitely avoid any providers or intermediaries who have failed to comply with the new terms of the Consumer Credit Act. “Previously anyone could offer loans. However, the new law has reduced the range of providers and intermediaries considerably. Therefore, on the CNB website, everyone should check in the list of regulated and registered entities whether they have anything to do with an entity that has already received or has applied for the relevant license, ” adds Miles Stephanie, CFO of Astro Financial Group.

Take advantage of the loan offer

Take advantage of the loan offer

In terms of financial literacy, Czechs still have some reserves to understand the credit supply. According to the law, the APRC is a decisive figure used to compare the advantageousness or disadvantage of loans. It is on an annual basis so that consumers can easily compare all financial products, both short and long term. However, it has to be taken into account that even the APR mentioned in the contract may change on the basis of extraordinary repayments, which may be the early repayment of the loan. Action offers on credit-repaying loans are another example where multiple factors need to be taken into account. The real cost of the loan will be reduced by meeting the conditions for receiving the rewards. “We are currently returning a quarter to 100% of the interest paid back if the client repays properly and on time and pays the loan early in the 12th installment. However, at the outset, the APR does not reflect the fact that the client gets interest back, ” explains Robin Stránský and recommends that consumers have a representative example calculated directly on their financial situation, including an example of using an action offer.

Do you know how to recognize a provider of secure loans?

With the new legislation, the same conditions apply to non-bank lenders as to banks. This means that borrowing from a non-bank company licensed from the Bankate is as safe as a bank, often under even more favorable conditions, for example, without collateral. The Bankate has 15 months to grant the given license, which authorizes the activity. But how do you know now who is a solid lender? And what to watch out for?

The new law turns the market upside down

The new law turns the market upside down

In 2016, when the lending was still governed by Act No. 145/2010 Coll., On consumer credit, the Czech Trade Inspection Authority conducted 194 inspections. In 39 cases, violations of this Act were found, with fines for more than CZK 5.5 million. Other 103 inspections violated generally binding legal regulations. Although there was an improvement of 20.6% compared to 2015, many fraudulent companies still operate on the market. Therefore, an amendment to the Act was introduced due to the implementation of EU directives aiming at greater consumer protection, which also entails stricter lending conditions, as well as greater supervision of lenders and lenders.

We have already informed you about the conditions that non-bank companies have to meet. The main change is the transition from the supervision of the Czech Trade Inspection Authority to the Bankate. Now, after the license application deadline expires, we may provide you with new details. Of the more than 60,000 lenders and credit intermediaries, only 108 companies, 353 intermediaries and approximately 22,000 tied agents have applied for it.

The Bankate, as a financial market regulator, publishes lists of regulated and registered financial market entities, primarily with the aim of providing the lay and professional public with the opportunity to verify whether entities with which they are able to meet on the Czech financial market are authorized to offer and provide financial services. Therefore, you can find loan providers who have permission to do so on their site. Lloyd Penty is on the list of CNB applicants.

How to recognize a safe loan?

How to recognize a safe loan?

As stated in the introduction, the Bankate has 15 months to assess the application and license. In the meantime, consumers still have doubts about whether they borrow from a trusted and solid provider. The following advice, what to look out for and what to look out for, can help them with these concerns.

First of all, we would advise you not to borrow through an intermediary, but rather directly with the provider. You will be more secure, safer and cheaper. Another criterion that should show you the honesty of a company is whether it verifies your ability to repay the loan. Almost a third of companies have provided loans to clients at risk during the February test. At the same time, looking at debtors’ registers and verifying creditworthiness should be the guiding principle for the provision of secure loans. At the same time, working with registries can affect whether a company gets a license or not.

Loan providers’ unfair practices include the concealment of total costs, the need to sign an arbitration clause, the granting of loans under the Civil Code, and not the new Consumer Credit Act No. 257/2016 Coll. possible early repayment. Be sure to pay on the pay-line or so-called high-rate color lines that can deprive you of money before you say “loan”.

Do we meet the conditions for secure loans, too?

Do we meet the conditions for secure loans, too?

All year 2016 we were preparing for the changes. Now we are proud to say that we have successfully filed your application for a license of the Bankate within the set deadline. We can continue to provide our loans to help you solve financial difficulties since 2004.

By looking at the individual criteria for getting to know a safe loan, you can be sure of the right choice. We always provide loans under fully transparent conditions, without any arbitration clause and without property liability. You will always receive a repayment schedule from us, where you can see all the loan repayment details, including legibly and unabridged written information about the APR and any penalties for late repayment. The calendar also describes how the loan can be repaid. You can choose from four options – by bank transfer, cash deposit to an account specified in the payment schedule, postal order or in cash directly at our Prague branch. As far as telephone lines are concerned, we provide our clients with all information via a toll-free line at 800 187 187. There are no charges for incoming or outgoing calls.

If you want a loan from a proven, solid and mainly Czech company, do not hesitate to use our Easy Loan, where you do not have to worry about hidden fees or sanctions for early repayment. On the contrary, we offer you a safe solution to financial difficulties, including the possibility of refinancing your loan.

Our main goal, which we are aiming for and which we are gradually fulfilling, is to provide secure loans that will be your first choice if you fail in a bank. And all this without the amendment to the Consumer Credit Act No. 257/2016 Coll. it mattered.