How to get a loan to start a business?

Most people dream to open his own business. But many stop such things as lack of confidence, lack of knowledge required for business or business ideas. But one of the most common causes of failure of the implementation of the business project is the lack or absence of the necessary funding. This problem has two solutions - to borrow money from a friend or contact the bank for a loan to start a business. It is clear that the rich relatives or friends who are able to borrow the amount needed to start your business, is not at all. And there is still one option - to get a loan to start a business at the bank.

Lending a new business is seen by banks as a very risky deal, because there is no evidence that the prospective employer does not go broke - do not know how it will work. So the first step to success in obtaining a loan to start a business is a well-written business plan. Giving out loans, the banks want to minimize the risk of non-repayment, and a business plan is the only document that is able to confirm the success of the business project. On the basis of a business plan, banks assess the level of risk the future profitability of the business, the ability to repay the loan.


Based on this, future borrowers need to carefully research the market and make all necessary calculations. In order to persuade a bank to grant a loan, the business plan should be the correct accents. Before giving the business plan of the bank, the entrepreneur is recommended to assess the reality on the part of the reliability and future project.

A major role in the issuance of credit for opening a business credit history plays. Presence of the past debts or late payments can be a decisive moment for the failure of the bank. If, nevertheless, the entrepreneur has a negative credit history, he should write a letter of explanation indicating valid reasons of delinquency in the repayment of the loan.

Many banks are serious about those entrepreneurs who want to get a loan to start a business, who are investing their own money in the venture. As a rule, it is desirable that the proportion of capital to businesses at least 25% of the amount required to open a new business. This situation will improve the ratio of the bank to a person, because equity investment shows that the entrepreneur is able to save money and, most likely, in the future will be able to pay off the bank.

Managers of the bank when considering a loan application for the opening of businesses attach great importance in appearance and behavior of the novice businessman. Therefore, it is desirable that the borrower was severely dressed, well-behaved, he spoke on business language, thus indicating the seriousness of his relationship to the business and the level of knowledge in the field of opening a new business. Education and profession entrepreneur are important points in evaluating the creditworthiness of future business.

Most importantly - a novice businessman to be confident in their abilities and knowledge. If the bank still refused to issue a loan, do not despair, you should pay attention to the causes of failure, try to fix them, and with renewed vigor to contact the bank. Everyone knows that one of the essential qualities of a successful entrepreneur is commitment, which the bank in this case can appreciate (while meeting all the requirements for a loan) and eventually give credit for starting a business.

For example, Sberbank to run your own business from scratch offers credit "Business-start". A special feature of this offer is the ability to start a business franchise, ie, beginning entrepreneur does not necessarily have its own business idea and develop its brand from scratch, or you can take advantage of existing market trade marks and brands of the franchisor.

When you take out a loan "Business start" requires no additional commission, the loan amount can be up to 3 million rubles, the interest rate of 17.5 - 18.5% per annum, the loan period of up to 3.5 years, and the consideration of the application up to 3 working days. If the customer is not enough knowledge necessary for doing business, Sberbank is ready to provide advice and offers for free to explore the course "Basics of entrepreneurship".

And as bankers advise entrepreneurs want cheap and long-term loans - take right now. This is confirmed by statistics - according to the Central Bank in the fourth quarter of 2011, more than half of the banks worsened the conditions on corporate loans, and this trend may continue. This may contribute to a number of factors, including the rate hike may occur on rising funding costs.