Loan for opening a business: the truth as it is

Many people dream of starting their own business. However, this can only units. Why is that? Among the most frequent reasons, experts note insufficient motivation, insecurity in their abilities, inability to plan their business competently. 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 free money?

The safest option is to find a lender from among your friends and relatives. But not everyone has such people. There remains the second option - go to the bank and get a loan to start a business there. But is it so simple? Let's try to understand.

Why is it difficult to get a loan to start a business? After all, such problems practically do not arise when it comes to a loan for the purchase of real estate or, say, auto. The answer to this question is obvious: the bank can not be sure that the funds will not be lost, but the project will pay for itself. As practice shows, many beginning entrepreneurs simply can not evaluate all possible risks. However, recently domestic banks are more 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 the most loyally loyal to lending to light industry enterprises, furniture manufacturers. In the "honorary list" were also enterprises of the service sector (bars, cafes, hairdressers, etc.). They are also supportive of auto carriers. This is due to the fact that they often take out loans specifically for the purchase of a car, which in case of failure can become a pledge.

The loan objective has a great influence on the solution. The simplest situation is with loans for the purchase of real estate (warehouses, offices, retail outlets). In second place after the real estate is transport and production equipment, which can also act as collateral in case of emergency repayment. The most difficult for those entrepreneurs who are looking for money for business development and replenishment of working capital. In this case, they, as a rule, have to pledge the previously acquired property.

But few people succeed in getting a loan to start a business. Before giving out the funds, the bank wants to make sure that the deal really makes a profit. That is, only entrepreneurs who have worked more than 3 months in the services sector and more than 6 in production can count on receiving them.

However, not all have property that can be used as collateral. How to get a loan to start a business for those who do not have suitable real estate, equipment or transport? At the forefront in this situation is the availability of guarantors. In this role, any individual who can provide a certificate of income or a confirmation that he has a suitable property can speak. If you find yourself unable to pay the debt, these responsibilities will be assigned to your sponsor.

But most importantly - remember that going to the bank and making out a loan for opening a small business is only in the case of 100% confidence in the success of the conceived!