Have you recently started a business or are you planning to do so? Are you looking for a grant that would give you a better start? You can find them in many banks that offer loans for new businesses.
Where to get funds for the company’s development?
Everyone who sets up their own business activity counts that it will start to generate considerable profits over time. The problem, however, is that before this happens, you have a lot of expenses. The tax office, ZUS, your employees and contractors will not wait until you acquire a sufficient number of clients who will ensure your company financial liquidity. Regardless of your income, each of them will demand payment from you. And yet you will also have other expenses related to running and developing your own business.
But how do you finance all this?
On the one hand, new entrepreneurs can use many forms of financing their business. EU funds and subsidies are always available to provide the resources needed to start a business. Added to this is your own savings that you can invest in your own business. But what if all this is not enough?
After all, it may turn out that the costs of running a business are higher than you initially assumed, and acquiring paying customers on time is not so easy. On the other hand, your venture can thrive and you would like to use its potential as soon as possible, but you lack the funds for further investments.
Co-financing under corporate loans
In this case, banks come to the rescue. They offer a range of credit solutions for a variety of activities. There is only one problem. Most of them are addressed to companies that have been on the market for a long time. What about new companies? Do they have a chance for a bank loan if they last less than a year?
Until recently, new companies that wanted to grow faced a dead end. Banks granted loans only to companies that had adequate income for the previous year or had collateral in the form of corporate assets. Only that new companies most often did not have one or the other, which meant that their chances of credit for companies were zero.
Fortunately, banks noticed this gap and introduced new credit solutions, such as loans for new companies.
Where to get a loan for new companies?
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Although more and more banks are offering loans to new companies, it is easiest to obtain such financing in a bank that specializes in servicing enterprises. Most often loans for new companies are referred to as “Start Loans”. They are characterized by the fact that they are intended for entrepreneurs who are just starting their own business or run it for less than 12 months.
By using a loan for a new company, you can count on co-financing up to PLN 350,000. Of course, it all depends on your individual situation, i.e. your company’s history and creditworthiness. You can spread the loan repayment for a new company for up to 60 months.
Most importantly, when applying for a new business loan, it doesn’t matter how long you’ve been operating on the market. Most likely, the bank will not even require a business plan from you. On the other hand, a bank that gives loans to new businesses will probably want you to keep your business account there.
Banks are increasingly willing to grant loans to new companies, but this does not mean that you can count on such financing from the first day of running your business. Most often, a given bank will require your business to function on the market for at least a few months before applying for a loan for new businesses. However, it is still a better offer than in the case of regular corporate loans, when banks require a minimum of 12 months of internship before they even talk to you about possible financing options.
Credit offer for new companies
The offer of loans for new companies is really very diverse. Depending on the bank, you’ll be able to get a smaller or larger amount that you can spend on your own business. For this reason, it is worth carefully analyzing what banks offer to new entrepreneurs. And above all, it is not worth getting discouraged when you hear in another institution that you can apply for a loan for a new company in a few months.