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To get a bank loan at the stage of forming the idea of a business project is the desired goal of many start-up entrepreneurs. In many developed countries, there are government programs and private initiatives aimed at financing small businesses.
In domestic realities, it is often not so easy to get a merchant cash advance, having on hand only constituent documents and dreams of mastering a certain niche.
But ACFA is ready to consider customer requests for payday loans online under certain conditions.
The fact that a certain amount of funds is needed to open one’s own business to many entrepreneurs is beyond doubt.
If we talk about production, trade or other activities, then funding may be needed for various purposes:
- purchase of premises or its rent;
- the purchase of raw materials or products;
- expenses for paperwork;
- payment of the cost of research or the labor of employees and much more.
A bank loan today is one of the most popular sources of financing for both a new and quite successfully functioning business.
Despite the huge demand among customers, it is not so easy to get a bank loan for a business that is opening up and there are several reasons for this:
- High risks. The lender must verify the viability and prospects of the business started by the client.After all, this directly depends on how timely the borrower will be able to repay the debt and fully repay its obligations to the bank.
- The absence of a predictable economic field for running a small business. It is no secret that small business in the country is experiencing difficulties in the form of burdensome taxes, difficulties in processing and regular inspections of a large number of authorized bodies.
- Non-compliance of the documents submitted to the lender with the established requirements.
First of all, this concerns the business plan – the most important of the documents, the correctness of which largely determines the result of the decision to grant the loan.
Obviously, the lender, considering the application of the client for the issuance of a loan, must make sure that the business created by him will be successful. Otherwise, from what sources the debt will be repaid, if the transaction does not provide collateral.
This fact leads to the fact that most of the offers from banks contain an obligatory condition on additional security for loans from scratch for small businesses.
If commercial undertakings fail, the entrepreneur undertakes to transfer the pledged property to the bank for sale or to repay the debt with his own funds.
The second important condition – the presence of positive credit history of the client.
Potential borrowers who had violations in the repayment schedule of consumer loans, the bank is guaranteed not to issue a loan as an entrepreneur or founder of a legal entity.
It should be noted that today there are no offers on the market when a loan can be obtained only by providing even a high-quality business plan.
The bank will necessarily require at a minimum the personal guarantee of the applicant.
Ways of registration
Gradually, the procedure for applying for and receiving an investment loan looks the same as in the case of many other types of business loans.
It occurs in the following way:
- Preparation of the business plan and accompanying documents.These may include market research, marketing plans, agreements of intent or other documents that confirm that the client has certain agreements with future partners and counterparties.Also in this list includes a lease agreement, a license, if necessary, the technical characteristics of the products.
- Preparation of other documents required by the lender. These are registration and constituent documents.
- Applying for a loan.
- Transfer to the lender of the necessary documents for analysis.
- Consideration of the application by the bank and the study of the accompanying documentation.
- The decision of the lender.
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As a starting point for the analysis, proposals for lending by domestic banks to small businesses at the stage of its launch were selected.
Traditionally, Superb Bank offers its customers almost the entire range of relevant services, including in the field of lending.
Those interested in opening their own business will appreciate the investment program called “Business Start”. Its conditions suggest the possibility of obtaining up to 80% of the required start-up capital.
At the initial stage, potential customers are invited to take an online course on the basics of entrepreneurship.
In the future, anyone who prepares a standard business plan, drawn up with the participation of Superb Bank experts, can receive a loan under this product.
The second option for obtaining a loan is to launch a franchise business from companies that are partners in this project.
Detailed information is available at the following link.
For customers who already have their own business or partner participation in it, the Agricultural Bank offers loans for launching new projects.
The loan was developed in close cooperation with the Federal Corporation for the Development of Small and Medium-Sized Enterprises and offers preferential financing terms.
Thus, clients from among small business representatives can receive loans for the development of new activities.
The priority sectors in the process of reviewing applications are also domestic tourism, projects in the field of communications and transport, high-tech projects, construction, energy, processing industry, and agriculture.
VTB Bank provides a range of products for the development of new lines of business for customers who have active projects or who want to start a business.
The key feature of the loan is the guaranteed possibility of obtaining a deferment in the payment of the principal for up to 6 months.
Loan collateral provides a gap between the estimated value of the collateral and the loan amount up to 15%.
The form of granting is a credit line or a one-time loan with a fixed repayment schedule on a regular basis.
The list of required documents is available by reference.
Alfa-Bank offers its clients comprehensive business development and promotion services. In addition to advertising support, expert advice and assistance in promoting services, the bank also offers loans for business development.
“Partner” is a loan for customers who have already opened a bank account and are planning to develop new business lines using borrowed funds. The loan is issued for any business needs without specifying specific goals.
The size of the loan depends on the business plan and the specifics of the client. Its size ranges from 1,000,000 to 6,000,000 rubles.
Mortgaged property is not required, but when you make a loan, you need a guarantee from the entrepreneur or business owner.
A special program of crediting the opening business operates in Bank Center-Invest.
The “Start-Up” loan is intended for those potential borrowers who have already decided on the direction of their future activities and have a ready-made business plan for its development.
In addition to borrowed funds, the bank offers preferential terms for cash and settlement services during the initial period of opening its own business.
To get a loan, an entrepreneur needs to have an experience of registration of at least 12 months from the date of receipt of the state certificate. A loan is issued in the form of a credit line with a limited issuance.
Small business loan without collateral and guarantors
Before proceeding to the selection of suitable credit conditions, potential borrowers need to pay attention to several important points:
- Most banks involved in lending to new businesses, determine promising areas of activity for financing.If the client’s activities fall into these categories, then the chances of getting a loan increase significantly.
- In the absence of business experience or the presence of other factors that reduce the chances of obtaining a loan, the client should contact the business support funds or guarantee funds.These organizations contribute to obtaining a loan to start a business for a small commission fee.
- In some banks (Superb Bank), there is a program for lending to a new business if it opens under the franchise of the bank’s partners.This option has some advantages – streamlined business processes and franchisor support.
- When preparing a business plan for starting a business, it is worth consulting with specialists and professionals if there is not enough experience in creating such documents.After all, not only the success of the undertaking will depend on it, but also the chances of the loan being issued by the lender.
In some credit programs of banks, you can meet the conditions under which the client has the right to postpone the first loan payment for up to 6 months.
Do not neglect this option, even if the conditions on the loan in the selected bank will be worse:
- Firstly, it will save in the early stages of activity.
- Secondly, during this period you can accumulate funds for early repayment of the loan or pay for other items of expenditure.
Other bonuses will come in handy in the form of loyal terms and conditions of cash management services or affiliate support of the bank in the early stages.
In some banks, there are services for the joint promotion of goods and services for start-up entrepreneurs.
When making a loan from scratch to start a business, the borrower must provide such mandatory documents (their list may be supplemented depending on the conditions prevailing in the lending bank):
- application form;
- customer profile;
- a copy of the certificate of state registration of the business entity;
- copies of the passport of the entrepreneur or founders of the legal entity;
- certificate from other banks on the status of current debt (if any);
- a certificate from the tax on open accounts with other banks;
- documents confirming the ownership of the property or its lease;
- constituent documents of a legal entity (charter, minutes of meetings, certificates of state registration, etc.);
- business plan;
- contracts with contractors or partners.
The level of interest rate is primarily affected by the availability of loan collateral. When making a pledge or guarantee, it may be lower, because banks often indicate the allowable range of its values or the minimum level.
Also on the size of the rate affects the loan amount and the term of its execution. On average, their size ranges from 14 to 22%.
Requirements for the borrower
The following standard requirements apply to the borrower as an individual:
- Russian citizenship;
- permanent registration in the region where the creditor is present;
- no negative credit history.
In relation to the business entity, the following requirements are established:
- state registration term not less than 6 months;
- no debt in other banks;
- no tax debt;
- break-even activity for at least 6 months at the time of application for the loan;
- the location of the business and its registration in the region where the lender is present.
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How much to expect?
On average, loans for starting a business are issued in the amount of up to 1,000,000 rubles, if this is a new project, and the client has no business experience in the past.
For borrowers who own the existing business and want to open new areas of activity, the loan amount can be increased to 5,000,000 rubles or more.
As a rule, a loan for starting a business is issued for up to 36 months.
In some cases, for loyal and existing clients of the creditor bank, a loan period of up to 120 months can be set.
The loan repayment schedule depends on the choice of the client and the form of the loan. This may be a decreasing repayment scheme or annuity.
The method of payment of the debt on the loan is the transfer of non-cash funds from the account of the borrower to the credit account in the service bank.
Advantages and disadvantages
Among the positive aspects of loans for starting a business include:
- the opportunity to receive funding for new activities;
- in some cases there is support from the lender, which consists of consulting support or joint promotion of services;
- Additional features – preferential cash management services, deferred payment, etc.
Disadvantages are only in the limitations of such proposals and a lengthy procedure for consideration of the application associated with the verification of the business plan.