Are there any promotional loans for founders?
Not only from a specific situation, such as unemployment or university, starting up a business is fraught with financial difficulties. Even without very difficult basic conditions, the financing of self-employment seems to be a mammoth project. Start-ups who want to gain a foothold in the catering trade, in the service sector or in the trades, are confronted with major investments even before the start of the company. If you want to open a bar, a café or a restaurant, you need tables, chairs, a cash register and maybe you even have to set up a whole kitchen. Machines and tools are needed in the trades. These are just a few of the necessary investments and you can easily imagine that the list of purchases is much longer. However, start-ups who lack the necessary change for the start can be helped – namely with a development loan. This is where founders of start-up companies find out which loans are available, what they offer and how to apply for a development loan.
Range of promotional loans for start-up
Promotional loans are diverse in terms of financing volume and maturity. There are sponsoring loans in the form of startup credit, microcredit, working capital loan or you apply for a promotional loan for investments.
Subsidized loan in the form of the start-up loan
The Intrasavings Bank and the development banks of the federal states provide start-up companies with promotional loans for founding a business. This can be used to finance operating resources and investments. The financing volume of such a promotional loan is usually within a range of up to 100,000 euros. In order to relieve the entrepreneur, grace periods are usually provided for and the interest rates partially reduced. The application for such a subsidy loan usually goes to the house bank.
- Promotional loans from Intrasavings Bank in detail
- For start-up founders and companies up to five years there is a promotional loan in the form of the Intrasavings Bank start-up loan
- Founders also have the opportunity to apply for a development loan from the promotional banks: the development banks of the federal states and their promotional loans
Microfinance through subsidized loans
A micro-loan rarely covers more than 25,000 euros. Frequently, the first credit commitments for the microcredit are already below 5,000 euros. This promotional loan is not given by a classic bank, but rather by a promotional bank. In addition, there are microfinance institutions specializing in this development loan. They check the loan applications and recommend a grant. The loans themselves come from the microcredit fund Germany, which is managed by SCR Bank. The framework conditions for funds from the micro-credit fund Germany are:
- Running time up to three years
- Interest of 8.9%
- Initially only small amounts, increase to max. 20,000 euros possible
- Repayment monthly or final
- Promotional loans through microcredit from the promotional banks in detail
No classic development loan is the microloan fund Germany – yet it counts because of its design to the funding landscape in Germany. For the fund, 70 million euros were made available by the federal government, which are to be allocated as economic capital to founders and young companies – up to a maximum of 50,000 euros each: find out more.
Working capital loan as a promotional loan
This promotional loan is awarded by the house bank and promotional banks. If you do not receive the development loan from the house bank, you can submit an application to the respective development bank via the house bank to apply for the development loan there. The terms of these promotional loans are up to five years. The financing volume is higher than the starting loan. As a rule, there are also redemption-free years. The promotional loan is used for short- to medium-term financing of current assets in the company, which are:
- Goods and supplies
- raw materials
- Financing of claims
Subsidized loan with investment loan
This promotional loan is basically granted by each bank. To apply for the development loan, you should first go into the bank discussion well prepared to check the bank’s willingness to lend. In addition, the development banks of the federal states and Intrasavings Bank make this promotional loan available. The term is based on the useful life of the investment object. The application is made again via the house bank. The financing volume can amount to up to 10 million euros. Redemption-free years are also possible with this promotional loan. The promotional loan is used to finance fixed assets. Which includes:
As part of starting your own business, you should also check grants and subsidies – take the free subsidy check!
Continue reading More about this topic Create financial plan Free subsidy check GucoCredit Promotional offers of Intrasavings Bank Apply for a quick credit line Help with financing You might also be interested in
- Find a promotional loan in the Lender and Funding database
- Be supported by a promotional loan from the promotional banks
- Write a financial plan for a successful development loan
- No subsidy loan, but apply for grants for founding