How to get a loan for your business (startup)

Hello! I plan to open my own business with a partner (friend), we lack a small amount. Tell me, how can I get a loan to develop my business? Maxim, Yoshkar-Ola

Hello Maxim! Opening a new business is a long and laborious process. Indeed, before the company begins to function fully, it is necessary to solve a number of issues. This and financing, and search for markets for products or services, and business profitability as such and search for interested customers, as well as mass of organizational issues: from renting or buying premises and equipment to finding staff and investors.

Where can I get a loan for my business?

Not all people who have a commercial streak and are ready to work to develop their own business have the capital necessary for the development of the enterprise.

The state takes this fact into account and you can see some movement towards supporting small businesses. But usually, a person starting an individual entrepreneurial activity, first of all, is looking for free cash among acquaintances, relativesand friends. About how to get a loan for an individual entrepreneur without collateral and guarantors, read the article here.

And this is really the most profitable and reliable way to get money for the development of a startup. Since in this case, funds can be obtained with a minimum percentage or even without it.

But there is a minus - usually such loans are issued for a short period. And the amount of such a loan is not large. Rarely is it possible to lend more 30,000 - 40,000 cu

Another way to get a loan / loan for starting and developing a business is through classic bank lending, namely, a startup loan. And also loans from various credit organizations and unions that are engaged, roughly speaking, in speculation - taking a loan from one large bank, and then give it at a higher percentage to private borrowers.

The best option would be to contact the bank directly. Contrary to popular belief that the country's financial institutions are reluctant to invest in new projects, it is worth remembering that having a competent and relevant business plan, a clear vision of how, where and by what principle the company will work, as well as a good business and credit history of the borrower - it is almost a 100% guarantee for successful cooperation.

Nevertheless, bank loans for startups have a number of nuances.

For example, in any typical contract there is a clause in which the amount of personal funds available to the borrower should be indicated. By the way, the option with a guarantee takes good chances. If you have a person whose business is stable and dynamic, and he is ready to vouch for you - this will be an additional plus when making a decision by the credit committee.

Startup loan - Not the most popular destination in Russia and the CIS. We do not have classic foreign venture funds and "business angels", and those that are are very few. Nevertheless, more and more banks are collaborating on this program.

Most often, one can find such names of a banking product as “business start” and although this area is only starting to gain momentum, it is hoped that lending to startups will soon become the norm and ordinary phenomenon. By the way, you can calculate payments and interest on the loan through our online loan calculator.

What to do to those who seek money and for now can't solve this issue?

You can try to go a different scheme, there are several solutions:

to take out a loan as an individual on the security of movable or immovable property (We recommend reading - “How to get a loan without information on income and guarantors”, “Loan on the security of a car Title” and “How to take a loan on the security of an apartment”);
seek international and local programs to help small businesses;
post full information about yourself on specialized startup forums and portals;
look for an investor directly (Read the article - “where and how to find an investor for starting a business” and “how to get a loan from a private person against receipt”);
take part in state competitions aimed at supporting and developing private entrepreneurship.

Howbeit. Do not forget that "he who wants will succeed." In the realities of the deep economic crisis, liquidity shortages and an acute shortage of working capital, lending to startups is not an easy process, but, nevertheless, achievable. And the right motivation, self-presentation and the presence of a good business plan is the key to success.

In conclusion, we suggest watching a useful video about a loan to novice entrepreneurs:

That’s all with us. The Rich Pro team wishes you good luck and success in creating and developing your business. See you on the pages of our magazine!