Start-ups do not always have an easy time with lending. As with the self-employed and freelancers, there is usually no regular income available to serve the bank as collateral. Also, the own company is to be built first, whereby at the time of borrowing no or at least no significant turnovers can be detected. On the market, however, there are several special offers on a loan for entrepreneurs, which can be quite cheaper than the typical installment loan at the bank.
The way to start a business through a loan
Start-up loans have a number of functions to fulfill: buy factory and office equipment, stockpile supplies and pay employees. Depending on the size and orientation of the business, relatively large sums of money may be required, which require funding. In principle, the entrepreneur offers several ways to obtain the coveted loan.
It is important, however, that he has previously thought enough about his plans and this can also explain convincing. A business plan is just as important as a convincing business idea. From this, the bank can also see whether the founder has invested sufficient time in his project and whether he is capable of carrying out a business point of view also. However, a part of the business plan is also the financial plan, from which the required funds emerge, thus what in which amount, for which purpose and at which point at capital is needed.
Banks in particular attach great importance to the fact that such a plan was worked out in as much detail as possible in order to provide a loan for start-ups. The plan may reveal gaps that the claimant may have missed and that the bank can point to. Anyway, better than a loan that can not be repaid due to wrong planning, is to conscientiously revise this plan once again.
Grants for a start-up loan
There are numerous support programs in Germany that facilitate the leap into self-employment. As a rule, the funding agency takes over part or all of the risk of setting up a business, and the funding is also approved as such. Another advantage of special development loans is the later repayment of the loan. Often, the redemption-free start-up period is one to two years, in which the young company is not burdened with repayments and thus can establish a secure market position.
There are special loans for start-ups, for example, at the semi-state-owned Intrasavings bank. In contrast to normal bank loans, the conditions are also much cheaper here. An example of this is the so-called CarGoal, a Intrasavings bank start-up loan. With this offer financing of up to 100,000 USD can be carried out, which can be used for the acquisition of the necessary resources.
However, a professional qualification is required, which should not least be reflected in the business plan described above. Also, the start-up business must be geared to full-time employment, at least in the medium term. The term of this loan is a maximum of 10 years, of which two years can be granted as an amortization-free start-up period. Although the effective interest rates for such loans vary, they are usually below 5%.
Another first point of contact can be found in the funding database of the Federal Ministry of Economics and Technology. In this way, with the help of a few clicks of the mouse, you can call up all those support programs that are suitable for your own project. These can be both special regional funding concepts as well as nationwide loan offers. In addition to the offers of the Intrasavings bank are here also founders funds, which promote a business start-up in, for example, a certain industry by means of loans for business start-ups.