Insufficient funds to start your own business does not have to lead you to a full-time position. If you have a good plan to grow your business, you can apply for a business loan to start your business. I have also analyzed several offers of the most popular banks that can grant you such a loan.
Start loan – how does it work?
Banks praise their credit offer at every step. However, you need to spend a lot of time to find the right loan to start a business. Companies that have been on the market for a long time and can present documents showing financial results have a smaller problem with this.
As in the case of other loans, the condition for receiving a start loan will be the submission of a loan application together with the attachments required by the bank. The most common attachments include:
- certificate of non-arrears with payments to ZUS and US,
- business plan of the enterprise,
- entry in the business register,
- certificate of loan collateral, e.g. real estate mortgage.
Loans for starters vary widely. When you apply for such a loan, you can choose the best form of financing for you. You have at your disposal:
- Overdraft limit – it is a solution that you will use if you do not have enough money on your account. You can use the loan many times, because each payment to the account is transferred first to the repayment of the existing debt.
- Working capital loan – money that allows you to finance your current business. This is one of the most popular ways to improve the financial liquidity of your business.
- Investment loan for financing fixed assets – allows for the implementation of investments that are aimed at increasing, reproducing or modernizing fixed assets.
- Credit line – does not debit the business account and is not automatically repaid because it is kept in a separate bank account. The credit line is often confused with overdraft.
Popular ways to secure a loan to start a business
- real estate mortgage,
- transfer of ownership as security,
- assignment of receivables,
- third party surety,
- a blank promissory note with a promissory note declaration,
- pledge on the company’s fixed assets.
Business loan for start – where to get it?
I checked what banks that can offer you loans for companies from the very first day of doing business can offer you. Also remember that you can take advantage of the de minimis government program.
Loan for companies to start at Medial Bank
Investment loan for investments in company assets. The amount of financing is set individually and the bank finances the entire investment. You can borrow money for up to 12 years. In addition, when running a business, along with the credit, you will receive access to the Idea Cloud management platform, through which you will issue an invoice, forecast flows, and you’ll also be able to use the Idea Hub coworking space.
Mybank start-up loan
You can apply for a loan to start at Mybank from the first day of running your business. The bank offers loans up to 30,000 to new entrepreneurs. zł. In addition, you will be able to complete the formalities related to the loan online.
Loan for companies to start at OutBank
Leasing of small equipment, thanks to which you can supply your company with necessary office equipment, gastronomy, cosmetics and furniture. You can apply for equipment leasing in the amount of PLN 1,000 to PLN 19,999 via the Internet and at the facility.
Start loan in PB
You can take out a loan for start in PB for 100,000 PLN, and the maximum duration of the debt is 60 months. In addition, you have the option of suspending the principal and interest repayment for a month in each year of the loan.
A loan to start with the help of the government
If you cannot provide your own security features, you can take advantage of the de minimis program guarantee. The program is available to people with experience, and those who take their first steps in running a business. The form of de minimis aid is granted as part of admissible public aid. The guarantee may be secured repayment of working capital or investment loan for entrepreneurs from the micro segment and small and medium enterprises.
What support can the entrepreneur apply for?
A cash loan is a simple, but not the only option to get extra money to start a new business. You can apply for subsidies from the European Union, activation support for the unemployed or try to raise money using crowdfunding.
When you decide on your own business, pay attention to the appropriate selection of PKD. Many entrepreneurs choose as many types as possible. Think carefully, however, because there are industries that are considered to be more risky at banks. Therefore, it is best that you choose the types that actually relate to the area of your business. Poor selection of PKD may result in a negative response from the bank where you will apply for a loan.
Sometimes a good business plan is enough to get money to start your dream business. Every novice entrepreneur certainly meets with doubts whether his idea for a company will be adopted, and above all, whether he will convince lenders that it is worth investing in him. Many companies that are doing very well on the market today also got money to start, borrowing them in banks.