Many dream of starting to develop their own business. However, only a few succeed. Why is that? Among the most common reasons, experts note inadequate motivation, lack of self-confidence, and inability to plan a business correctly. But the most common reason is, oddly enough, the lack of money. Almost any business at the initial stage of development requires certain investments. But where to find available funds?
The safest option is to find a lender from among your friends and relatives. But not everyone has such people. The second option remains - to go to the bank and get a loan to open a business there. But is it that simple? Let's try to figure it out.
Why is it difficult to get a loan for starting a business? After all, such problems practically do not arise when it comes to a loan to buy real estate or, say, a car. The answer to this question is obvious: the bank cannot be sure that the funds will not be lost, and the project will pay for itself. As practice shows, many novice entrepreneurs are simply not able to assess all the possible risks. However, recently, domestic banks are increasingly willing to cooperate with representatives of small and medium-sized businesses.
Who has a chance to get a loan to start a business? Statistics show that banks are most loyal to lending to light industry enterprises, furniture manufacturers. Service companies (bars, cafes, hairdressers, etc.) were also included in the “honorary list”. They are also supportive of road carriers. This is because they most often take a loan specifically for the purchase of a car, which in case of failure can become a guarantee.
A big influence on the decision has the purpose of the loan. The simplest situation is with loans for the purchase of real estate (warehouses, offices, retail outlets). In second place after real estate is transport and production equipment, which can also act as collateral in case of emergency repayment. The most difficult thing is for those entrepreneurs who are looking for money to develop a business and
replenish working capital. In this case, they, as a rule, have to mortgage previously acquired property.
But few get a loan to open a business. Before issuing funds, the bank wants to make sure that the business really makes a profit. That is, only entrepreneurs who have worked for more than 3 months in the service sector and over 6 in production can count on receiving them.
However, not everyone has property that can be used as collateral. How to get a loan to open a business for those who do not have suitable real estate, equipment or transport? The presence of guarantors comes to the fore in this situation. This role can be played by any individual who is able to provide a statement of income or confirmation that he has suitable property. If you find yourself unable to pay the debt, these obligations will be assigned to your guarantor.
But most importantly, remember that going to a bank and getting a loan to open a small business is only in case of 100% confidence in the success of the plan!