Starting a business is often associated with high costs that are borne by the founder. Not every prospective self-employed person can cover these expenses with his saved money. However, in order for the foundation not to fail, there are start-up loans that facilitate the start.
The business start-up loans exist with conventional banks, with the Intrasavings and with some federal states and municipalities. They are designed to promote the development of companies and primarily serve to finance inventory, resources and goods. Depending on the type of company, the amount of the loan may vary accordingly. Start-up loans are usually long-term loans, most of which have a maturity of five to ten years. In order to enjoy one of these loans, the foundation may not be too long ago, depending on the loan. As a rule, banks set a maximum timeframe of two to three years.
The advantages of start-up loan for founders
The start-up loan enables many people to take the step into self-employment in the first place. Without this money, the idea would often fail due to financial issues. The advantage of these loans is certainly on the one hand the favorable conditions offered in this area. These are usually below the usual interest rates. Due to long maturities, it is possible to concentrate fully on the business in the initial phase and to generate a customer base as well as sufficient income. The repayment rate can be selected accordingly low. In addition, you can take up to five years without redemption. A fixed interest rate also allows planning certainty. Likewise, unscheduled repayments can be made at any time. You can also claim a 40% exemption from liability to avoid having to cover the full loan amount.
What are the disadvantages of having a start-up loan?
The disadvantages of the business start-up loan are relatively straightforward. As a rule, a loan has the disadvantage of binding you to financial obligations for a longer period of time. But this applies to every loan, so you can not really accept this as a disadvantage. Start-up loans have a relatively long processing time and usually also very rigid credit conditions that are not negotiable. The best way to find out about the start-up loan details is to ask your bank adviser.
Requirements for the business start-up loan
- The business start-up loan must be applied for prior to establishment.
- Entrepreneurs should already have own resources.
- Anyone who needs state help in the form of a start-up loan for a new professional existence should in any case submit a good business plan to the bank.
What can I use the start-up loan for?
The business start-up loan can be used to acquire land and buildings. It is possible to use the loan for the equipment of the new company or for a company takeover.
Where do you get a founding loan without equity quickly and easily?
For the start of a new business idea, the fewest founders have sufficient equity and thus little chance of a start-up loan from the state. Business start-ups and young entrepreneurs can still get low and fast on a start-up loan without equity. In online crowdfunding platforms like eicredit, founders have a chance of getting a loan even without equity. Swarm financing allows founders, self-employed or entrepreneurs to borrow money quickly and easily from private sources. Personal loans are privately held privately in the form of personal loans. Self-employed, freelancers and company founders can get a loan for their business or StartUp even without a business plan. The financing of so-called peer-to-peer loans is provided by private money lenders. Even if the loan application for a start-up loan without equity capital has been rejected by the bank or the credit rating is too weak, founders and start-ups have a chance at a private loan. For start-up companies without equity, start-up entrepreneurs can have up to 50,000 euros in start-up credit approved. The credit platform, which organizes private money lending with the support of a partner bank, ensures serious and discreet settlement. Urgently needed equity, which start-ups and young entrepreneurs need for your business idea and for financing, can be borrowed from private investors. Even refinancing or rescheduling of already completed start-ups can be financed via a personal loan. Another advantage is that the conditions for the loan from private are very different, as with a loan from a bank. For even self-employed despite negative credit bureau entry can get a loan. This is possible because the creditworthiness is evaluated differently in the credit check. The credit bureau Sore, unlike a bank credit check, is just one of several criteria taken into account when assessing creditworthiness. In the money lending of private individuals variant, also loan seekers have a chance on a start-up loan without equity, where the bank has already rejected the application.
How can I lend money to private investors as an entrepreneur?
Prepare to borrow money from private investors optimally and professionally. To get a start-up loan, you as a start-up entrepreneur or young entrepreneur should have a convincing concept for your business idea. Show the private investor failure is not an option for you! To be able to assess your own financial situation, get your credit bureau self-report. If you want to get the money from private lenders from the credit marketplace, you will not need a business plan for the start-up loan. For a financial institution, a business plan is of course mandatory. To get a loan as a new entrepreneur from private investors, you first need to register for free on the loan platform. After the free registration your credit rating will be checked. This is followed by a free onlineIdent or PostIdent exam. Then you have to present the concept that you have developed to the lenders in the form of a so-called credit project. In this loan project you mention what you need the money for. Only at the conclusion of the private credit intermediation costs arise! If you do not receive a loan, your loan request will be forfeited, it will remain free of charge.