As an entrepreneur, you have various options for financing, such as taking out a Shine business loan . Many entrepreneurs see this as a natural step, while other entrepreneurs prefer not to “gamble” with money from external sources. Regardless of the type of entrepreneur that you are yourself, you will first have to answer some questions before you make that step to business loans Shine. For example, you must opt for a suitable business loan platform Shine, you must determine whether you really need these external resources and what risks this entails. In order to take out a Shine business loan without running any unnecessary risk, we have already listed the main points for attention.
Contact the local financial advisor of Shine for personal advice that will take you further. Schedule an appointment immediately for more information.
Why take out a Shine business loan?
It makes no sense to come up with answers if you don’t ask the right question first; why do you want to take out a Shine business loan? Here are three reasons for using money from external sources:
- At the start of a new business, it is not pleasant to plunder your own bank account, borrow money from family members or put at risk friendships. With borrowed money you can get to work quickly without taking personal risks.
- The company is already doing well, but you want to move ahead and be ahead of the competition. For that you have to invest in staff, machines, software or promotional activities, and that can cost a lot of money in a short time.
- It is on or under it, you need new capital quickly to pay the bills. With borrowed money you can bring peace to the tent and strengthen your base.
There are of course many more reasons to take out Shine business loans. What is your story? Tell the financial adviser and view the options on the table together.
Business loan platform Shine
Although there are plenty of options to get money into your account through external sources, it always entails obligations. Because the perfect loan for every company does not exist, you will have to make a well-considered choice for the most advantageous business loan platform Shine. You are, as it were, facing a crossroads, which road should you take and which path should you definitely not follow?
Business loan platform Shine
1. Current Credit Account
The easiest way to get financial room is to submit a request to the bank to be in the red. That gives you room to make new investments, of course you have to pay a hefty interest on the amount that you have in the red. You discuss a term with the bank for the current account credit, and an interest rate is agreed that is usually variable. This type of loan is most suitable when you need money quickly and for a short period of time, for example to pay debtors or to stock up.
2. Business loan Shine
You can take out this type of loan with your own bank, you can also approach another bank with better conditions. The duration will be at least one year, whereby you must specifically state what you will do with the money. It is therefore not permitted to change the destination later without the explicit consent of the lender. The amount is repaid in monthly installments with interest on the residual debt. With an accelerated repayment or quarterly payment, additional costs may be charged.
This is a popular business loan platform Shine for starters and SMEs. Starters can borrow up to € 50,000, with SMEs the loans go up to a maximum of € 250,000. For entrepreneurs who do not (yet) have collateral and want to borrow a relatively small amount, you may be eligible for a micro credit or an SME loan. Guidance by an independent financial adviser is often part of such a loan. These types of loans have a term of no more than ten years, to be paid in monthly installments based on a fixed interest rate with an option for accelerated repayment. Because the risk with these loans is generally higher, this also applies to the relatively high interest rate.
4. Guarantee credit
This is a construction whereby the Dutch government will act as guarantor for part of the loan. This BKMB is primarily intended for business loans Shine where the lender does not have sufficient confidence in the stability of the company to borrow money. That can also be a sign that the company cannot stand on its own two feet. A guarantee credit runs for a maximum of six years, when investing in real estate a term of a maximum of twelve years applies. BKMB is possible for companies with fewer than 250 employees and a total turnover of less than fifty million euros.
You can also choose to look completely outside the established order for investors and go for crowdfunding. This is a construction where you do not request the full amount from one party, but you divide this over a number of investors. This may be both private individuals and business investors. On the basis of the type of company, product or service, there will be a consideration for this. On a crowdfunding platform like Kickstarter, it is often a disguised “pre-order”, Geldvoorelkaar.nl pays an amount with interest. This method is best suited for new concepts that appeal to a specific target group, but which do entail a considerable risk. When you choose this type of business loan platform Shine you will have to get down to work with marketing and promotion to get the concept to the market.
Risks with regard to business loans Shine?
The sun rises for nothing, bear in mind that taking out Shine business loans will involve risks. In addition, an increased risk for the lender will translate into a higher interest rate for the entrepreneur who borrows money. When it is possible to borrow money for a very high interest rate, you first have to consider how you can pay it back, and whether your idea is actually viable. This way, the process of applying for a Shine business loan can provide you with immediate insight; what does an objective observer think about your plans? A rejection certainly does not have to be the end station, it must encourage you to think and possibly adjust your ambitions. First discuss this with the financial adviser, not only will he take your specific ambitions into account, you can also count on an honest sounding board who also dares to be critical. This way you not only prevent risk as an entrepreneur, you also increase the chances of success.
Discuss all possibilities with the local financial adviser before you take a path in choosing a business loan Shine.