The starter loan one is a loan specifically aimed at starting companies and individuals who want to establish themselves as self-employed. In many cases, they have limited access to professional credit. The starter loan has been created for this purpose. They offer you a simulation of your starter loan with detailed information about your options.
Starter loan for companies
The start-up loan is aimed at start-up companies and to encourage job seekers to start an independent activity. The purpose of the start-up loan is to support these new entrepreneurs with the start of their new initiative. In addition to a starter loan, guidance is also offered to increase the chances of success for the starting company. The starter loan is an initiative of the Participation Fund.
The simulation of a starter loan
The term and amount of the starter loan depends on the type of business that you start. The equipment you need to be able to start the business also influences the amount of the starter loan. A start-up loan is not intended to cover all the costs involved in starting the business. You will also have to invest capital yourself or use a different loan for this. You get an overview of this by simulating your starter loan. With the simulation you indicate how much credit you consider necessary to start your business. In addition, you state the term and an interest rate. The calculator gives you an amount for the monthly payment based on this data.
To apply for a starter loan, you must be able to submit a business plan with the financial institution that provides the starter loan. This should show, among other things, what exactly your activities entail and how much you think you need to be able to start. In short, it is assessed whether and when your company is viable.
Starter loan for everyone
In principle, every starting entrepreneur can apply for a starter loan. It is important to know that there are two different types of starter loans. There is the aforementioned starter loan from the Participation Fund. You can also contact a bank. The bank’s starter loan will generally be a little more commercial, which may affect the costs that you pay each month. However, both starter loans have been created to help the starting entrepreneur get started with the start of the business.