When you decide to open a business, resorting to a subsidized loan to meet the initial investment is an almost obligatory choice. But how can we extricate ourselves from non-repayable loans, which are always very difficult to obtain, and the offers of lenders?
Opening a bar, a restaurant, a shop or any other commercial activity is a considerable commitment because of the many things to think about. For this reason, it is essential not to have problems from an economic point of view and to make sure, right from the start, that you can obtain the necessary financing to avoid having to face liquidity problems.
Loan to start a business
Those who decide to start a new business can take advantage of 2 solutions: loans granted by banks or subsidized funds from the European community. We will discuss these latter in depth in the next paragraphs. For the moment let’s focus on the best loans offered by banks:
- Unicredit : Unicredit proposes Start up New Companies, a loan that allows you to finance up to 100 thousand USD. The maximum duration of the product is 7 years and is repayable in monthly, quarterly or half-yearly installments. The interest rate can be fixed or variable and it is necessary to have registered with the Group of Lender for no more than 21 months. Other requirements required by the bank to provide the loan include the release of an eligible Better Bank guarantee of at least 60% of the loans granted and the contribution of equity equal to at least 30% of the investment plan to be implemented.
- Good Lender Bank : This bank proposes, instead, the Self-employed project which allows obtaining financing for the start-up of new businesses but also for taking over existing companies. It is a process that accompanies the entrepreneur both in the choice of financing and in the development of the new company.
Subsidized loans to open a business
In addition to the normal banking products, there are various subsidized solutions which provide for part of the non-repayable loans. Below we list the main ones:
- subsidized loans to female entrepreneurs : they are provided by the European community or allocated by the regions. In principle they concern projects where the female component is dominant (usually at least 70% of the members).
- subsidized financing for young people : the same speech we made for female entrepreneurship. Also in this case the component must be mainly characterized by young people under 35 years of age.
- subsidized loans : they are special state loans that are disbursed when there is an employment problem. If the members of a company or a private individual are unemployed, it is possible to obtain these subsidized loans to relaunch their work.
Honor loan to open a business
Another possibility to finance the opening of a new business is represented by the loan of honor. The loan of honor is nothing more than a type of loan that is disbursed at a subsidized rate which allows to obtain up to 25,823 USD, in the case of a natural person or up to 129,114 USD in the case of partnerships.
The loan is aimed at all unemployed people who have reached the age of majority and who have been resident in Italy for at least 6 months. With this product it is possible to finance the start-up of sole proprietorships and partnerships.
Overall we can say that when you are preparing to start a new business resorting to a subsidized loan is really very important because it allows you not to get into debt at excessively high costs. In the first period, in fact, the entrepreneur is particularly vulnerable as his business has yet to become fully operational and the turnover may not be sufficient to cover the various expenses. The subsidized credit represents an excellent solution to get around the problem and start off on this new path.