Do you have ideas on how to start a business, but do you lack funds? Then you will probably be looking for a loan for start-up entrepreneurs. This is quite common, but if you want to find a quality solution, it is an extremely complex problem . When you realize at the outset that a start-up entrepreneur is not an attractive client for banks, but not for campaigners and non-bank companies, because it is not very confident about the money repayment, it will be clear to you that it will be a fairly long run. track. At the same time, a loan to start-up entrepreneurs is not a thing unattainable, so in this article, we will try to guide you a little and help you in handling this financial product.
Where for a start-up business loan?
If we disregard all the classic loans (typically non-purpose loans), which in principle can also be used by a start-up entrepreneur , you can go in two directions at the beginning of a start-up business loan application. The first are the banks . These can be described as extremely cautious lenders who, in the vast majority of cases, will be extremely angry at the idea that they should lend to entrepreneurs without any history. The classic request for a bank loan is that when filling out the stacks of forms, you will have to prove, among other things, the amount of regular income, which is a problem with a novice entrepreneur. Prepare for long talks with bank staff , great bureaucracy , but if you make it to a successful end, you will have a loan for start-ups with a fairly low interest rate .
The second way is the non-bank companies and the campaigners . They are not so delicately cautious and lend more willingly, but not blindly. They will certainly try to get you a little “click”. So be sure to prepare your business plan and an explanation of how you plan to earn money and what you will be repaying for a start-up business. The advantage is also the fact that if you are already on the imaginary business start several times and in the past, for example, you have a problem with repayment of the loan in the bank, you have the door automatically closed, which non-banking companies do not solve at all .
For how long and how much loan will it offer to start-up entrepreneurs?
Here depends a lot on who you finally borrow, so again in two variants. If you can find and settle a loan for start-ups at a bank (less than one finger on the market), get ready for interest at around seven percent , slightly lower. Regarding the maximum amount provided, the standard is a maximum of one million crowns, but each applicant is assessed individually and Raiffeisenbank also offers ten million. The maturity is usually between five and ten years.
In the case of non-bank companies and campaigners, the interest will be between eight and ten percent, with similar amounts and maturity parameters. But be aware that these institutions will be more likely to require a guarantor or pledge for a start-up business loan.
In conclusion, go through the offer thoroughly , because the start-up business loan is often hidden or appears in combination with other products.