Sowing capital, i.e. funds that are needed to start operations, is a very serious limitation for many entrepreneurs, or rather in this phase of potential entrepreneurs. The situation is not improved by a complicated procedure for crediting such ventures at banks.
Bank loans to start for new companies
Only a few banks from around 30 operating at the moment in Poland have a start-up loan in their offer, which is available to companies organizing themselves or during registration. The mere availability of such a product in the offer also does not solve the problem, because the credit procedure requires either the use of private security, or at least a positive history in BIK (usually with a grade of C or higher). A number of other requirements must be met for this, which potential entrepreneurs, even if by age, are often unable to meet.
Loans for start-ups
The problem of the lack of financing for established companies can be tried to get around with loans for start-ups, i.e. bank loans for companies that have been operating on the market for less than 12 months. In the last two years, the number of such products available in banks has increased significantly and all significant banks have similar loans in their offer. Here, however, the problem is usually the low maximum loan amount, the high cost and the need to have the credit history of the business owner.
Basic disadvantages of bank loans
Even expensive bank loans, that is, those offered in the cross-selling framework (acceptable in offers for companies) and therefore their price increases (although spread over all products) are definitely cheaper than non-bank loans. It’s a fact. The fact is, however, that the procedure for obtaining such a loan can be quite long. Very few banks carry out the procedure completely online, most require running with documents to the branch, which for entrepreneurs after registration of activities is sometimes troublesome.
Loan companies have found some of the best clients in young companies. Entrepreneurs are not usually verified there in BIK, so they do not have to have a positive credit history. This is the biggest qualitative change compared to bank loans, but they are also smaller, although still significant. These include even a very short application time. From the loan company’s side, the loan for the start-up of the company is basically identical to the short-term loan or the long-term loan for the owner, so the procedure is the same, and the money can be obtained theoretically in a quarter of an hour.
Until recently, banks have considered business applications individually, taking into account, among others, business plans. Today, most analyzes are performed by an IT system that can not even analyze such a document. Loan companies in this respect are often more willing to negotiate, although the basic procedure is also automated.
What loan for the company to choose?
Because the cost of the entrepreneur, especially the beginner, is the most important, the equation is simple: it is more profitable to check the offers of bank loans, because even the most expensive one will be cheaper than the non-bank loan. Sometimes, however, the fulfillment of dreams about your own company requires risk – when banks refuse to finance without really knowing anything about the entrepreneur’s plans, it is worth looking for proposals in loan companies that are more willing to negotiate and in the case of really prospective businesses are able to offer financing only a little more expensive from bank loans.