Are you an entrepreneur and dream of starting your own business? We help new businesses get started
Do you have an entrepreneurial dream in your stomach and need funding to realize it?
A business loan for starting a new business can in many cases be a cumbersome process. Start-ups belong to the high-risk group in a credit rating, which is why traditional banks and lending companies often require companies to have had at least three completed financial years before granting a loan to the company.
How to get a business start-up loan
Before applying for a business loan, you should have done a thorough preparation. What kind of business do you want to start and how much money do you really need to get started? Have a realistic expectation of how much you can actually pay off each month. In the start-up phase, it may take some time for the company to actually generate earnings, which is why you benefit from borrowing as little money as possible for the start-up itself. Can you start with a small inventory? Can you spare an office during the start-up period? Can you get by with a facebook page at the beginning and later build a website?
Different types of loans to new businesses
Traditionally bank loans fit best when the business has progressed a little further in the process and can showcase has an established cash flow.
Business loans at Vækstfonden are a good alternative if you have plenty of time and can make a good presentation with a thorough business plan, budget and project plan.
Business loans from Qred is own if you have a temporary liquidity need. Qred is one of the few players in the Nordic region who lends money to start-ups.
Financing with own capital is suitable when there is great potential for increasing the value of the company, but at the same time there is also a high risk that it will take longer than planned.
Credit rating for start-ups
When you apply for credit for business start-ups, credit information about the company will often be obtained. It is highly unusual for credit rating to be particularly high, as your company does not have a long history on which to carry out the credit rating. Your business gets a high credit rating by consistently having stable revenues and profits while avoiding all kinds of payment notes.
At Qred, we have prepared our own Qred Score, which takes into account both the business idea and the people who are behind the company and not only many years of accounting history. This means that we can help new entrepreneurs with a small loan in connection with the start-up of new businesses.
Please contact our caseworkers on 89 87 10 06 and get a professional assessment of how we can help you and your company get started.