Something that many people wonder is which legal form you must have to take out a business loan . Do you have a sole proprietorship, a general partnership or a public limited company? Then you can take out a business loan yourself. Nowadays this can be done very easily online. Fill in the details of your company and the provider will assess your application.
When am I eligible for a business loan?
If you want to be eligible for a loan from a bank, your company must be registered with the Chamber of Commerce and thus be established in the Netherlands. In some cases, your business must have a minimum annual turnover and a minimum life span. It is also important that your company has a VAT number. In some cases, you must be able to provide a business plan stating what you intend to use the business loan for and what the expected results of your business will be, both in the short and long term.
Repaying a business loan
In most cases, you are personally liable for the repayment of the business loan. This means that if the company does not meet the repayment obligations, your personal assets, movable and immovable property will be used for repayment. In short: it is always a great risk to take out a business loan. Not only for your company, but also for your private situation. Therefore, always pay close attention to the conditions when you take out a business loan.
Take out a business loan
Anyway: if you want to take out a business loan, it is definitely recommended to use our handy comparison tool. This way you can quickly and easily find a business loan that meets your wishes and requirements. Indicate how much money you want to borrow and what term you want for the loan. After this, all parties will appear where you can go. Always make sure that you read the conditions carefully before you take out a loan . This way you will not be faced with unexpected surprises.
What do you want with the money?
There can be several reasons why you want to borrow money. For example, you may want to open a new building, borrow money to purchase new inventory or buy new cars for the business. Whatever you want: always draw up a good plan in advance and make it clear for yourself how much money you need to achieve your goals. This way you can be sure that you are not borrowing too much money. After all, you have to pay back the money with interest, so don't borrow too much and be realistic with how much you need.
Which loan is best for my company?
Every company is different and every company has different wishes when it comes to taking out a business loan . In addition, the provider with the lowest interest does not immediately suit your company best. Do you want to be sure that you are entering into a contract with a financing party that best matches your wishes? Then engage an advisor.