Start-up loans are designed to help newly-minted entrepreneurs and businesswomen so that they can turn their ideas into future-oriented projects. Depending on the situation and needs, various financing options and loans for founders may be considered.
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The basis of every business is the business or business plan. Applying for the small business start-up loan no credit check, he is usually the foundation on which all other negotiating points build. In addition to detailed information about the founders, a business plan also contains detailed information on the product or service, the market, and the planned financing.
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Start-up loans: Germany promotes start-ups
The federal government and the federal states support founders by numerous loans, grants, and start-up aids. Like no other country, Germany has a very well developed network of financial support in the form of so-called start-up loans. These funds include, for example, the initiatives of the ChamCom and Industry, the Chambers of Innovation, Technology, and Business Incubation Centers, about 130 Founding Chairs and the Employment Agencies. All kinds of start-up trade fairs, start-up initiatives, and business plan competitions complete the offer.
Advice for founders
Entrepreneurs can claim to fund for the advice both before and after the founding. The federal states, for example, provide subsidies for the costs of consulting, business plan development and coaching. For concrete offers, you should contact the ChamCom and Industry or the local business promoters of the municipalities and districts.
Even after the foundation, entrepreneurs can benefit from subsidy programs. The Entrepreneurship Promotion Program supports advisory services for start-ups and existing companies on all economic, financial, human and organizational governance issues. Firms in difficulty may also receive support for a business assurance consultancy.
The federal government offers various start-up loans
For costs incurred for the initial installation of the company, ie expenses for operating and office equipment, deposits or advertising measures, the Federal Government provides various financing options in the form of start-up loans.
The most important federal loans are:
- the ERP start money
- the ERP capital for founding
- the Intrasavings Entrepreneur Loan
Start-up loans are granted on different terms and are all intended to facilitate the start of self-employment. Subsidized loans must always be requested from banks or savings banks – this is called the house bank principle. In addition, the “Founding Monitor”, a publication by Intrasavings, provides information about the start-up business in Germany every year and shows the allocation of funds by credit institutions.
a) ERP start money from Intrasavings
Intrasavings bank’s ERP Start-Up Loan – Startdort enables start-up companies that have not been active in business for another 5 years to obtain low-interest financing with a debt financing volume of up to EUR 100,000. With two or more partners also a loan amount up to 200.000 € is possible. The application can be made twice until the maximum amount of 100,000 € or 200,000 € is reached.
- up to 5 years, of which up to one year grace period
- up to 10 years, of which up to 2 years redemption-free start-up period
- interest rates are currently between 2.2% and 2.7% per annum and are fixed on the date of the commitment at the applicable program interest rate
- The interest rate is fixed for the entire repayment term
Requirements for funding:
- The project is expected to be a sustainable economic success
- the applicant has the appropriate technical and commercial qualifications
- The company has less than 50 members and a turnover of fewer than 10 million euros per year
b) ERP capital for foundation
The ERP capital for a start-up is aimed especially at small young companies with up to 3 years of business activity. Here you get a start-up loan of up to 500,000 euros to set up and run a business. Access to ERP capital is particularly easy through the 100% indemnity of the participating bank.
- 15 years, of which 7 years start-up time free from eradication
- At present, the interest rate is approximately 0.40% lending rate (independent of collateral and risk assessment)
- The credit for founders is committed at the program interest rate applicable on the date of the commitment
- The interest rate is reduced in the first 10 years of the term from resources of the ERP Special Fund.
Requirements for funding:
- for start-up founders in the main occupation
- at least 10% own funds required
- the company must have less than 250 employees and an annual turnover of 50 million euros or less
c) Intrasavings Entrepreneur Loan
The Intrasavings Entrepreneur Loan is aimed at companies and freelancers who have been active in the market for at least 5 years. The funding program can finance up to 100% of the eligible investment costs. The maximum loan amount is 25 million euros.
- Minimum term of 2 years
- Terms and conditions vary depending on what is funded
- For loans with a maturity of up to 10 years and for maturing loans, the interest rate is fixed for the entire repayment term
- For more than 10 years, the interest rate is either fixed only for the first 10 years or the entire repayment term
- Currently, the effective interest rate is around 1.66% per annum
Prerequisite for funding:
small and medium-sized enterprises with fewer than 250 employees and annual sales of up to EUR 50 million are larger medium-sized enterprises, most of which are privately owned and whose group turnover is not more than EUR 500 million.
Alternative to the state: guarantees and online loans for founders
If the prerequisites for a loan from the state are not met, potential start-up companies have other ways of financing. If business start-ups threaten to break the lack of collateral, the guarantee banks of the states can offer a way out of their misery.
Often, guarantee banks also offer bank surety bonds for entrepreneurs who can not win a house bank for their project. However, as with the other financing options, you must be able to present a coherent and economically viable business plan so that you receive a guarantee.