If you want to take out a loan as a new entrepreneur, the following information can be useful for you. Our moderated forum is available for questions. Simply post your questions, the community and our editorial team will be happy to answer them quickly.

Why it is difficult to get a start-up loan

Why it is difficult to get a start-up loan

However, it is not easy to get a business start-up loan because the risk is too high for many banks. It is usually easier for an employee to get a loan because the monthly income is recognized as security. However, if the entrepreneur does not have certain collateral, such as debt-free home ownership, it will be difficult to obtain a loan for entrepreneurs. Without this, the future entrepreneur will hardly be able to acquire the necessary business equipment and all other things that are particularly important at the start of a company.

Often nothing works without a promising business plan

Often nothing works without a promising business plan

If a loan is to be applied for start-ups, a lot of time must be invested in the preparation. This means that a good business concept must exist and must be presented in the form of a business plan so that the bank can assess the prospects of starting a business. Even if the business plan has been approved as successful, it still does not mean that the lending bank is of the same opinion. Many a promising business idea was rejected after a thorough examination by the bank. So the concept really has to be coherent, cut and puncture-proof so that there are real chances of being awarded. However, only a few banks offer a loan for start-ups. 

The creditworthiness is decisive for the interest rate!

The creditworthiness is decisive for the interest rate!

As with any other loan, the creditworthiness, i.e. the creditworthiness, plays an important role in the loan for start-ups. The private credit bureau is queried by the bank for this purpose. Likewise, many start-up loans require a certain amount of equity, which is based on the amount of the desired loan amount. These points are important when it comes to setting the interest rate on the loan. The better these preconditions are for the entrepreneur, the greater the chances of low and low interest rates.

In the meantime, the Internet has proven to be a good alternative when looking for a loan for start-ups. Here are some portals that specialize in the needs. They offer so-called microloans, which are granted relatively easily. The point is that many smaller, mostly private lenders jointly provide a loan amount.