Loans for companies operating under a year are quite a difficult matter. That is why many entrepreneurs, even before opening a business, apply for a simple cash loan and obtained funds, which they spend on the development of the company. If the credit history of an entrepreneur’s BIK is good, then he has a lot of ways to get financing. However, if the company has already appeared on the market, the stairs begin, even more so when at the beginning it brings low and irregular income. Is there a chance for a loan in such a situation? Is a loan possible for companies with 6 months of activity?
When a company has less than 6 months of activity
Generally, entrepreneurs have a choice of many different forms of financing, and regardless of the specific activity they carry out, they are happy to reach for it. The loan can help them achieve leverage and double their profits.
What are the most common types of business loans?
– investment loan – to finance the investment,
– working capital loan – for financing current operations,
– bridge loan – very helpful when you need to cover the costs of projects for which we received a subsidy, but we are waiting for a refund,
– technological loan – for implementing new innovations,
– mortgage – secured
Companies that have been on the market for a long time can choose offers, but those that are just starting their business, unfortunately, usually have a problem. Banks usually place very high demands on their clients and are rarely willing to give credit to companies operating below one year. Most often, the company must have been on the market for at least 12 months, must have documented revenues on the company account and a good credit history in BIK. Then it has a chance to get a loan from most banks on the market.
But what if an entrepreneur needs cash to start? For newly established companies, the offer is really small and only a few banks that specialize in servicing enterprises are able to grant loans to a company to start a business, although such loans exist …
– Loan for young companies – defined as a loan for start-up companies. Theoretically, such a loan is granted to the company from the first day of its operation, theoretically, because few banks have it on offer.
– Loans for small businesses – this loan is most often granted to companies for any purpose, with simplified financial and registration documentation.
– Non-bank loans for companies – banks have high requirements and do not want to take risks, but the world does not end there. Enterprises, as well as individuals who have a financial problem, can apply to non-bank institutions and take out a loan for the company.
How to get a first loan for a young company?
Loans for companies operating below one year are difficult to obtain but not impossible. It can be enlisted, but certain formal requirements must be met. Hardly any bank, however, wants to risk and provide support to an enterprise whose future is in question. A start-up loan for a company, if already included in the bank’s offer, is usually quite low and requires additional repayment collateral.
Business loan for starters
Loans for start-up companies are granted to the company from the first day of its activity on the market and can often be used for any purpose. It can be used by an entrepreneur who carries on business for no longer than 12 or 18 months, as a natural person, civil, physical, public or partner company, or even as a farmer.
You can apply for a loan for companies operating below one year. It’s best to go to the bank where your business account is kept. The lender then has an insight into finances and usually does not need additional certificates, but nevertheless, it is better to prepare several documents in advance, such as an entry in the business register and a certificate of non-arrears with payments to ZUS or the Tax Office.
You can also apply online. Log in to the bank’s website, submit the application, complete the business plan, attach the list of required attachments and wait for the advisor’s phone number. You can apply for any amount, but it depends on the bank whether it will provide such financing. If the loan amount is low, it can be obtained without the need for collateral, but the bank may still require it, e.g. in the form of a mortgage, assignment, third party guarantee or blank promissory note.
Non-bank loan for companies without BIK
You can also use corporate loans offered by non-bank institutions. The market of non-bank products for companies is not growing, admittedly, as quickly and dynamically as the consumer loans market, because there is definitely less demand. Still, it’s not hard to find. A loan from a non-bank company is much easier, and its biggest advantage is a quick decision and minimum formalities. Often a loan company does not even need any certificates from the Tax Office.
Non-bank companies offer loans to entrepreneurs, even without checking the BIK register. It is not surprising that some companies may have financial problems that resulted in a negative entry in BIK or the company is simply new and does not have such a history yet. This usually completely eliminates the chance of getting a loan from the bank. Then, loan companies come to the rescue and are able to provide assistance without checking the BIK, thanks to which the whole process is carried out quickly and efficiently.