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Bank loan for new companies – how to get it?

A good business idea is not everything. To open our company, we still need to have adequate capital. Thanks to a certain amount of money and proper management, we will be able to achieve our goals and constantly develop our business. 

Bank loan for new companies – is it possible?

Bank loan for new companies - is it possible?

A bank loan is one of the forms of financing that usually comes to our minds first. Let’s start with the fact that banks set specific requirements for their clients, which we are obliged to meet. They mainly concern creditworthiness and documents confirming it. The creditworthiness assessment process is divided into two stages. The first of these involves checking the amount of revenues as well as active commitments and costs.

However, in the case of companies that are just emerging, the lender is not able to assess the financial condition of the startup company. The second stage is a qualitative analysis, during which the credit history will be checked. If the company has been active on the market for at least a year, there should be no problems verifying this information.

In the case of new enterprises, the bank faces difficulties. It is also worth emphasizing that information about the person who submits the application on behalf of the enterprise is also taken into account.

What are the loan terms for a new company?

What are the loan terms for a new company?

However, on the market we can find banks that offer their customers a loan from day one. If we decide on an investment loan, then we can receive money for the implementation of investments contained in the business plan. These include: purchase, construction or extension of real estate, works related to commercial real estate, repayment of other financial liabilities or consolidation of loans.

In such a situation, persons conducting business activity for less than 12 months must establish a special security method. It can be: pledge, transfer of ownership or mortgage on the subject of the investment with the assignment of rights from the policy, future value of the property after finalizing the investment or BGK de minimis guarantee.

It is also worth emphasizing that if you have an account with a given bank for a specified period of time, you will not have to provide an additional banking opinion from another institution. Therefore, we should consider submitting the application to the bank where we have bank accounts.

Bank loan for new companies – minimum guarantee

Bank loan for new companies - de minimis guarantee

As mentioned above, one of the types of collateral may be a de minimis guarantee of Cream bank. If we fail to repay the liability within the period specified in the contract, then the debt will be settled by the guarantee provider. Then, the entrepreneur will have to give all funds together with interest to the guarantor. However, it should be remembered that de minimis aid has certain limits.

They relate to the total value of aid granted to one entreprenUSD. It cannot exceed the equivalent of USD 200,000 in three consecutive tax years. The exception is entities from the road freight transport sector which may receive a maximum of USD 100,000 during this time. The unit guarantee amount is up to USD 3.5 million. However, it ultimately depends on the value of the aid granted in the current tax year and the previous two.

Depending on the type of loan, it covers a different loan period: maximum 27 months, investment not longer than 99 months. The other rules are always the same: the de minimis guarantee secures 60% of the loan amount, does not cover interest and other costs of the loan, it is secured by the entrepreneur’s blank promissory note, and the commission for the guarantee granted is 0.5% of its annual amount. If we decide to take advantage of de minimis assistance, then the money can be allocated to ongoing financing of business activities or implemented investments. However, it should be remembered that:

  • repayment of debt arising from a loan taken out at a crediting bank or an investment loan from another bank,

  • refinancing expenditure from the period before the conclusion of the investment loan agreement,

  • capital investments,

  • purchase of financial instruments, claims or an organized part of the enterprise,

  • to repay a loan or loan taken to buy one of the above items.