Getting a business loan as a start-up entrepreneur is anything but easy. Banks must first be convinced of the concept presented, so anyone who wants to apply for such a loan should prepare well in order to make the idea palatable to the bankers.
A convincing business plan and detailed financial planning always come first .
If you need a larger sum to start your own business, you have various options to find out whether you would get any money at all.
For a four-digit amount, credit marketplaces should first be consulted. These inform you whether any money would be paid out at all. The providers include, for example, Auxmoney or Smava, here it is possible to make an online request. These providers work with different donors, but it is an advantage not to be a start-up, but to be able to demonstrate self-employment.
Of course, it is also possible to get a business loan from a private provider. There are enough investors on the Internet looking for a way to invest their money profitably. However, no guarantee can be given because the providers themselves decide who to give their money to and who not. Creditworthiness plays a basic requirement.
If you have enough equity and therefore only need a small amount, you should seek a microloan. These are usually awarded by development banks, but some bureaucratic hurdles have to be overcome and the interest rates are sometimes very high.
Anyone who can find a bank that gives money to start a business can consider themselves lucky, as this is quite rare. The bank receives the interest as profit, but it also bears the full risk if it should go wrong. The bank also wants a well-filled business account as soon as possible, which is why the pressure should not be underestimated here. So if you are looking for a bank, you have to be better prepared so that the first talks are promising. Professionalism is required and that is why it is good to turn to an expert from the respective region.
Who can get a business loan?
A few factors depend on whether or not a business loan is approved. As a business start-up, the amount of a fixed income cannot be proven. However, there are enough banks that grant their business loans according to other criteria. Of course, the creditworthiness is also the top priority here, after all, it can be seen how the behavior is with payments. However, sometimes the banks do not quite understand how the credit rating classes are actually determined. Anyone who wants to become self-employed should obtain a self-assessment in advance, because Schufa is obliged to delete data that are statute-barred or debts that have been paid.
Where can you get a business loan?
If you are unsuccessful with your house bank, you can look for other options. For example, Barclay Bank offers new customers favorable conditions. The interest for this can vary depending on the term and amount of the amount, the borrower only has to present the last income tax assessment.
Another bank where the self-employed has good chances is ING Diba. For start-ups, it lends amounts of up to 50,000 euros with a term of up to 84 months at respectable interest rates. If you are looking for a transparent comparison of business loans and want to compare offers from different providers, you can, for example, online finance portals such as Compeon use. The platform offers personal advice and access to a broad network of different banks and financing providers. But comparison portals such as smava also offer a good overview of a loan for freelancers .
A basic requirement to get a business loan is always the business idea and an existing concept. There are also banks that are satisfied with a surety or that accept material assets, such as real estate, as a surety. Finally, as a start-up, a guarantee bank can take over the financing. They help those who want to start their own business, who have a house bank, but who do not want to take any risks. In many cases this even helps to apply for a certain amount from the guarantee bank. Here, too, there should be a concept that is absolutely solid, so that the amount is also economically viable.