• The sources of financing are the liquid resources or means of payment of the company to meet its monetary needs.

• The sources of financing involve the acquisition of capital, both fixed and circulating. Depending on whether the Sources of Financing belong to the company or belong to third parties outside the company (and therefore required), there are two types:

• OWN FINANCING SOURCES: these include the share capital, the repayment fund, the reserves and the self-financing.

• SOURCES OF FINANCING AJENA: those that the company has for a certain time, after which it has the obligation to pay interest and return the amount obtained. In broad strokes the following modalities are distinguished:

• Long and medium term credit, that is, with a term of more than one year.

• Short-term credit, whose maturity is less than one year and is intended to finance the operation of the company.

• Companies are like living beings in continuous movement. Financing is your food and as such should be balanced:

• When we finance the investment of a machine with a useful life of 8 or 10 years, do not do it with a short-term loan, because we would financially suffocate the company, forcing it to accelerate the investment quickly. The ideal:

• EQUAL DURATION OF THE FINANCING WITH THE USEFUL LIFE OF THE FINANCED (Example: It would be a mistake to finance computer equipment for more than two years, because the speed with which they become obsolete is truly amazing)

• PERSONAL LOAN. It is a loan contract constituted with a personal guarantee, to assess this guarantee the creditworthiness of the client is considered and with it the ability to repay the loan. It presents a very weak guarantee so the financial institution will authorize its concession based on the amount and the term.

• OBJECT: Finance the acquisition of low-value equipment, finance the acquisition of goods and services for consumption

• MORTGAGE LOAN: The fundamental difference with personal loans lies in the importance of operations. The loans, having a guarantee that confers greater security to the financial institution, allows operations to be carried out not only for a larger amount but also for a longer term.

• OBJECT: Finance the acquisition of homes, land, premises, warehouses, finance business investments, refinance previous operations, financed with personal loans, thus achieving greater financial balance

• LEASING. Also called Financial Leasing. It is an operation whose purpose is the transfer of the use of movable or immovable property in exchange for the payment of a fee and that, necessarily, includes a purchase option at its end in favor of the user. The assets have to be affected by a business activity.

Widely used in SMEs, where you don't have to face any initial input. It has the advantage, at the end of the contract, of being able to acquire ownership of the property.

• RENTING. Rent of an asset in exchange for a periodic fee. It differs from leasing in: There is no purchase option at the end of the contract, hhey are shorter term contracts, the amount of the fee is usually determined by the degree or intensity of use of the good, the contract can be terminated unilaterally before the end of the stipulated period, the conservation of the good corresponds to the lessor. It is mainly used for means of transport and mobile machinery of large works (cranes, excavators, etc.) and for computer equipment. It does not appear on your balance sheet as indebtedness

• CREDIT POLICY. It is a source of short-term financing, used by companies to cover treasury mismatches that may occasionally concur. Extraordinarily it is used to temporarily finance investments on which a subsidy has been resolved, it is called “bridge financing”. Unlike the loan, which implies an instantaneous availability of capital, the policy implies having a limit that is used according to the needs of the company.

• COMMERCIAL DISCOUNTS. It consists of the advance, by the financial entity, of the amount of a credit on customers of the company, supported by bills of exchange or promissory notes.

The purpose of this financing is to provide the company with greater liquidity, in return the financial entity receives interest and commissions, which directly deducts the anticipated value. It can be done sporadically or under the formula of the discount line.

• REAL GUARANTEES. This denomination includes those guarantees that fall on operations with a repayment term of more than 10 years. In this case the guarantee is the property on which the loan falls. This means that, if you stop paying, the lender will have the power to seize the property as a form of payment. However, the embargo does not always cover the entire loan. It is important to know that, the seizure of the property only closes the debtor position if the value of the property exceeds the loan. Otherwise, the borrower and his guarantors will respond to the debt, as indicated by current legislation: "With all its assets present and future."

• PERSONAL GUARANTEES. This type of guarantee includes loans that do not fall directly on real estate. We therefore talk about consumer loans or personal loans, which are granted based on our credit history, demonstrable solvency, etc. While it is true that in this type of guarantees there is no asset linked to the loan, when the time comes to default, the banking entity may execute the personal guarantee through the seizure of some real property of our property (both present and future) .

• PIGNORATIVE GUARANTEES. We are facing a guarantee modality through which, the loan is granted after depositing in the bank an amount equal to the loan plus the interest applied. While the loan remains in force, the balances deposited will be pledged, that is, they cannot be used.

During the duration of the balance of balances, these will be remunerated.

• AVALISTAS. On this occasion the guarantee is not financial or real estate. This involves the involvement of third parties who will respond in the same way as the holder against the debt incurred and generally in solidarity.