Loan for starting entrepreneurs
The essential question on this subject is how much the start-up entrepreneur is, whether he founded a business only “yesterday” or a year and a half ago? Does it have at least some profit historically, economic successes, turnovers? Or so far he has not earned anything from his entrepreneurial activity, virtually no money came to his account? Has he filed a single tax return, or has he filed and are there any reasonable figures? How much money does he want to get from a business loan and what exactly? Is the applicant a legal entity or a natural person? Let’s count that the money will go to your business.
How to get better entry conditions for a business loan?
The good news is that if the applicant is generally an entrepreneur and uses the loan money for his business, it should be a purely business loan that is not subject to the new Consumer Credit Act. So yes, it should be legally in order to arrange a start-up loan without proof of income.
The worst news is that if the lender is a loan for start-up entrepreneurs without proof of income and especially without collateral, they will probably want to see the entrepreneur’s economy and it will also have to be in good condition. The reason is that the risk of failure in the early stages of business and the resulting failure to repay this business loan is high. Pink eyes of a budding entrepreneur, inexperience with the real market, environment. All this can lead to an overestimation of forces, failure to estimate the subsequent reality and subsequent insolvency.
By not pledging real estate, the borrower is examined more thoroughly in order to minimize the risk of default and consequently, in the case of a non-collateralised loan, more difficult (recovering) borrowed money.
Conversely, such a thorough examination may not occur with a non-bank business loan with collateral (real estate mortgages). In other words, if a start-up entrepreneur has the option of pledging real estate against a loan without examining (proving) income, it is possible to get a decent non-bank business loan with the pledge of the property on the non-bank market without requiring the lender to deal with the business economy. condition Ie. the loan can be granted without requiring proof of income. Even the register (repayment historically) need not be in any good condition. In this case, the lender has a security in the form of a lien on real estate and so if the entrepreneur overestimates the market, his powers. In short, it will go into long-term insolvency, will not be able to meet its obligations in the future,
Where to get the best business loan
This is no longer a business loan without collateral. Here the way to get the borrowed money back is much more complicated in case of default or insolvency by the debtor. And so, frankly, in the non-banking market, I don’t know of a single entity that would have lent more money (at least hundreds of thousands) under reasonable conditions, even under unreasonable, without collateral. Thus, in the non-banking market, it is virtually irrelevant whether the entrepreneur has good income, turnover and profits.
It is recommended not to rely on the option of obtaining a loan for entrepreneurs without mortgage of real estate on the non-bank credit market. Not many on the market. And if any market appears generally able to lend to employees or entrepreneurs without mortgage real estate under not much less favorable conditions than the bank, the difficulty to arrange a loan, and to prove all possible documents, there is constantly increasing over time, “Waste “increases when it turns into a reasonable loan, for example, one in twenty-five.
We highly invite everyone to apply for loan in our company
Contact us for a non-binding evaluation of your situation, application. It does not take more than 10 minutes of a free and free call. And on the basis of this we will know immediately what is and what cannot be solved.
We try to create above-standard opportunities for our clients in the banking sector and so it is possible how many times through our own knowledge and possibilities to “enforce” in the banking sector and your loan request, whether or not the possibility of collateral – collateral real estate. Loan with collateral real estate will always be more advantageous in the banking sector, in the non-banking only possible. In addition, the chances of successfully arranging a loan for the client with the collateral are generally increased with the option to pledge the property.
Do not hesitate to contact us for a non-binding analysis and to create a specific business loan offer (whether for a functioning or a start-up entrepreneur).