Opening your own business, whether it’s a shop, rather than a bar, requires some initial capital to invest. Very often therefore it is necessary to resort to loans to open a business.
When starting a business, the applicant can exploit and evaluate various solutions: from the honor loan to the non-repayable loan, from private financing to public tenders and to loans granted by banks.
In this article we will focus on loans to open a business granted by lenders.
Requirements required by banks
Before disbursing money to businesses, banks request and evaluate specific aspects, such as:
- strengths and weaknesses of the company both in the case of a start-up and an already started company;
- a business plan;
- the history of the company;
- information about the lease;
- personal investor reports and financial statements of the last few years (in the case of an already started company);
- composition and structuring etc.
Loans to open a business disbursed by banks
Better Bank proposal
Let’s start by analyzing the loans to open a business proposed by lenders. Among the best offers there is certainly Better Bank, which offers a wide range of solutions:
- Cash credit, for any type of liquidity involved in business management;
- for advance unless successful, for the advance on the receivables through pro solvendo assignment;
- for advance invoices, for liquidity needs with advance on credits represented by invoices;
- Advance Inventory, for the purchase of goods or warehouse stocks necessary for the production process;
- Credit, for the purchase of tangible and intangible assets, stocks or any type of extraordinary need;
- Credit zero rate, to support your customers and their company;
- Advance 5 × 1,000, reserved for companies and non-profit organizations for the advance payment of income deriving from the destination of the 5X1,000.
Loans to open a business: Start Up features
To apply for loans to open a business, Better Bank also offers Start up, for support the business idea with a financing of up to $ 100,000 in case you want to start your own business, need to support the initial investments or if you are an aspiring entrepreneur.
The main features of the Start Up loan are:
- maximum loan $ 100,000;
- loan term up to a maximum of 7 years;
- repayment in monthly, quarterly or half-yearly installments ;
- fixed or variable interest rate.
To access financing, the following requirements must be met:
- registration in the Group of Lender for no more than 21 months;
- the issue of an eligible Confidi guarantee of at least 60% of the credit lines / loans granted;
- demonstrate the contribution of equity equal to at least 30% of the investment plan to be implemented.
Capital Lender’s proposal
Capital Lender bank offers various loan solutions to open a business, such as:
- New Enterprise, the loan dedicated to companies being created. The money requested can be used for the tangible or intangible investment costs associated with the activity. Furthermore, the amount can be combined with public contributions;
- Entrepreneurial Microcredit financing, which helps small businesses or professionals to start and grow the company. The maximum amount covered is $ 25,000 to be repaid between 24 and 84 months;
- Business financing, dedicated to female entrepreneurs who want to start their own business project. The maximum amount covered is $ 750,000.
Cream Bank’s proposal
The last bank to be proposed is Cream Bank, which offers a truly remarkable range of proposals, ranging from short, medium or long term loan solutions, such as:
- mortgages and leasing, range from short-term loans for artisans and professionals to proposals to be repaid over the long term and up to the financing of the total value of the instrumental good;
- subsidized loans, designed to encourage research and innovation especially for small businesses;
- for agriculture, designed to support the needs and projects of farms or to install renewable energy plants.