Capital: Credit as a start-up – an overview The self-employed often have problems finding a loan! For many start-up entrepreneurs and young self-employed, however, this threshold is much larger than initially thought. Experience has shown that credit institutions are extremely critical and hesitant in granting loans, especially for self-employed people who can not yet rely on a more functional and established business model. It does not matter whether the loan is to be used for the actual business or for private use.
Often it is the case with company founders that the business model and the private projects are not completely separable anyway. These include acquisitions that are both entrepreneurial and personal in nature, often required as part of a foundation: taking over companies: There are several ways to accommodate them.
This often makes it easier to obtain credit from a house bank. However, in many cases, there is no alternative to a traditional bank loan, especially if larger acquisition periods are necessary, for example, for the establishment of a consultation or an operating center. Depending on the type of company chosen for the respective company, different credit options are available.
For entrepreneurs who decide to set up a corporation, such as a company or an AG, only commercial banks are initially possible. However, the donors should be expected to find it difficult to obtain a loan without proper security. Possible security features can be, for example: Stifter, on the other hand, who initially want to realize their project in a partnership manner, only claim a personal loan, which is then used to realize the project.
In the processing of the application and the determination of the corresponding conditions, not only the prospects of success for the project of the founder, but also its personal framework are included. Borrowers should be aware that in the case of a partnership, they will pay for the loan in full and privately. Therefore, if securities such as real estate are available, consideration should be given to using them as collateral and thus reducing the cost of borrowing.
In any case, young entrepreneurs looking for a loan should expect that the chance of a positive credit decision increases only as the entrepreneurial activity matures. If it turns out that the project plan is hopeless to get a loan from the house bank, there is, in principle, the possibility to obtain the required funds from a private source.
Although this feature can be implemented relatively simply, ie without much administrative effort, stakeholders should always consider what effect a loan can have on the private sector. A failure of the project rarely has any impact on the partnership or partnership. In any case it is necessary to record the conditions at least informally but always in written form.
In any case, a closer look at the conditions is recommended. Alternatively, there are also platforms that mediate the money in the form of a loan between private individuals. Basically, the same business model is used as in a house bank. First, the borrower must submit a regulatory application in which his project is outlined.
The collateral to be provided will also be adequately considered. Based on this, an offer will be prepared and submitted to the private lenders. In advertising, the platforms also offer an opportunity to applicants who have been rejected by the credit institutions. The application for a loan in the private sector or on suitable platforms seems extremely cumbersome.
According to klarkredit.de favorable conditions are to be expected under certain conditions if the founder uses a start-up loan, for example from Intrasavings. However, if there is enough private capital available, the possibility should be taken to use it and thus provide additional security for a loan.
Especially with large projects, it is also possible to take up so-called venture capital. For founders in Germany, it is not always easy, especially when it comes to providing them with the necessary equity capital. Traditionally, credit institutions are very critical if the business model has run no longer than two to three years. These include personal loans, which can be researched in the private sector, but also on suitable platforms.
But the Confederation also endeavors to promote the donors, for example with Intrasavings start-up credits or venture capital programs.