Within Europe, every country has some form of start-up loan, but the conditions and characteristics of this type of credit can differ greatly from country to country. In Belgium, the start-up loan serves to revitalize the economy and can therefore only be applied for by starting entrepreneurs who need a little extra budget to get their business off the ground. If you want to be eligible, you must first have concrete plans to start a company and be able to clearly substantiate this with the necessary documents. The amount that can be borrowed will be largely determined by the type of business you want to start.
What do you take with you when applying for a starter loan?
First and foremost, you must be able to prove that you are an official entrepreneur. Matters such as proof of registration with the Chamber of Commerce, a VAT number and a description of the company are already a good basis. In addition, it is also important that you can demonstrate the need for the loan. For this you write a business plan. This plan consists of a financial and a commercial part. The financial section provides an overview of the costs you expect to incur and the revenues. To convince a lender to offer you a start-up loan, it is important that the figures are realistic and substantiated. The commercial section gives an idea of the type of business you have started or wish to start up and the way you want to do things.
How much can you borrow with a starter loan?
There is no fixed amount that goes with the start-up loan. Everything depends on the needs of your business and your ability to pay off that amount within a reasonable time. In the first place, the amount needed to ensure the viability of your business is considered. Extras that are not necessarily necessary can always be purchased later and will not be included in the maximum loan amount. The clearer your business plan, the better your chances of being able to borrow a higher amount. Request the necessary information here so that you can compare loan quotes and get your business started.