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Installment loan for start-ups – January 2020
The path to self-employment requires courage, it is often a rocky road and financial development is not 100% predictable. However, calculations and estimates are not necessarily the data that banks want to grant loans.
In general, start-ups have a much harder time as credit customers than salaried employees. The online loan for start-ups can, however, be realized via portals for private loan brokerage, which are often a way out when banks say no. State subsidies or grants are also available.
Credit from private
Private lending is one of the oldest ways of borrowing. But it is not always possible to find private financiers for starting a business in a direct family or friendly environment or it is not made out of shame. But what should you do if the bank rejects the loan application or if it has little chance of success for various reasons?
Credit brokerage portals such as Auxmoney or Lendico have the solution: Here private investors invest in loan applications from private individuals, but start-ups and companies can also get loans from private individuals if they convincingly present their concerns, their business idea, and their financing projects. The fact that a loan project is realized by a large number of shares from various private investors increases the chances of obtaining a loan. Lendico goes one step further and also brings companies on board as investors, which makes the online loan even more interesting for start-ups, since the “old hands” often like to give start-up help.
The credit seeker also carries out a credit check on these credit platforms, which work with partner banks to process loans. A fixed interest rate is determined on the basis of the determined creditworthiness values. In principle, the creditworthiness of private loans also has a strong informative value. Loan seekers who can provide information on their Credit Bureau scoring in their online application increase the chances of online credit for start-ups.
Promotional loans for start-ups
State promotional loans for start-ups also provide sound and proven start-up support. KfW should be mentioned here as a promotional bank that grants such loans. Precise cost statements and business plans from which the profitability of the projects can be seen serve as a prerequisite here. Subsidies, including the start-up grant from the Employment Agency, are valuable support for starting your own business.
Alternative: direct banks
Direct banks have so far not offered the loan for start-ups, which is also precisely designated as such. The “new entrants” can only have estimates and calculations for the future, which does not offer direct banks enough security.
Loans for the self-employed, freelancers or young, open-ended companies are much more common. It can also be used for private, business-independent purchases or investments. Proof of income is essential here, which presupposes that the majority of direct banks have been self-employed for several months. Usually, calculation calculations for the future must also be submitted in order to be able to weigh the loan amount and financing details precisely. The installment loans with a fixed term and a credit-related debit interest rate are often given as small loans, which can be seen with loan amounts of up to $ 5,000. Depending on the bank offer, the possible loan amounts can also be much higher, for example between 10,000 and 50,000 USD. An inquiry is worthwhile on this page.