To start a business in 2021, a loan is necessary in order to obtain certain funds. Thanks to this loan, the activity of your company can start without problem. But it is important to note that a loan remains a debt whose repayment is made over several years. It is therefore essential to ensure the proper functioning of your business and convince the banks of the sustainability of your business.
In this article, we will explain how to obtain business creation credit, namely the prerequisites that the actors need to acquire it.
Prerequisites for obtaining a bank loan
In order to put the odds on your side, the prerequisites for obtaining a business creation loan must be carefully prepared and sufficiently convincing for the bank. The more time passes, the less banks lend to businesses, particularly because of the crisis. But it is also thanks to a relationship of trust between the company and the bank that credit can be granted.
This is why it is necessary to seduce the investor at first, to show him that his business holds the road and that he can walk in the long term. For this, the important thing is to draw up a business plan .
An essential document for companies today, the business plan is a file covering the first three years of creation of the company with production, sales and financing forecasts . The business plan should also show how the company wants to grow in the future, and prove that it can achieve the objectives demonstrated by the business plan because the figures entered in the forecasts must be proven to be achievable. A good business plan is therefore a pledge of confidence for the bank . This proves that you have taken it seriously and that you have thought about the main issues concerning your business.
Your forecast should also be realistic . This must therefore be coherent according to your market, and your sales capacity in relation to the real target that already exists. The construction of your forecast figure must therefore be done in relation to real figures and events. It must also be considered that zero risk does not exist and that there can always be unforeseen events. The Covid-19 pandemic is living proof of this. So don’t overstate your expectations to impress, make them achievable .
All your financial documents together, you can start applying for a business creation loan.
What are the different actors who can make a loan?
Although banks are increasingly reluctant to lend to businesses, they are still the key player in obtaining a loan.
Other means are also possible, such as approaching an investor directly by offering him a share of the capital in exchange for the loan, or through crowdfunding campaigns , which can be a good alternative.
But the largest investor is still the bank . There are two possible loans ocGet credit for your businesstroyed by the bank.
The first of these loans is the classic bank loan . In order to approach the bank, apart from your solid financial forecast, you will need to have two key factors to obtain the key to success.
The first is the personal contribution . Indeed, banks are increasingly reluctant to grant credit if there is no capital at the start. To overcome this, make sure that your own funds amount to 15 to 30% of your financing needs.
The second is the warranty . This allows the bank to protect itself if there is no repayment of the loan, but also to share the risk of non-repayment.
The second possible loan is the business creation loan , more commonly known as PCE. This loan is ideal for any type of project that does not require very large financing. This credit has no guarantee or personal guarantee and its amounts are generally between 2000 and 7000 euros . This amount must be used to finance the immaterial assets of the company.
Also note that you cannot obtain the PCE if you do not have a classic bank loan .
You now have all the cards in hand to gain the trust of your bank and seduce them with your project. Obtaining a business start-up loan can be a very difficult task, so be sure to know your field and consider all the potential issues for your business. Be realistic and confident .
Finally, note that, as banks give less credit to new businesses, you will probably receive several refusals. However, do not give up, because there will always be a bank or an investor favorable to your request.