When does your company belong to SMEs?
MKB stands for Small and Medium Enterprises, which means that it employs a maximum of 250 employees. You are medium-sized if you have fewer than 250 employees, you have an annual turnover of no more than US $ 50 million or an annual balance sheet total is less than or equal to 43 million. You are a small business if you have fewer than 50 employees, an annual turnover of less than or equal to USD 10 million net or a balance sheet total of less than USD 10 million. Everything under that falls under micro business.
When are you entitled to an SME loan?
When are you entitled to an SME loan? Of course if you meet the SME criteria, but there are even more things involved in taking out an SME loan. As an SME you are always entitled to an SME loan, but the lender with whom you take out the loan will set some requirements to be able to hedge against loss or bankruptcy. Those requirements are:
- a good business plan;
- you are not allowed to have a backlog code at the BKR;
- you are registered with the Chamber of Commerce;
- your annual figures must be correct;
- you must have a plan of what to do with the money.
Credit or loan?
Are you unsure whether you should apply for a credit or a business SME loan? A credit is often used when there is not enough money in the till to pay for current affairs. A business loan is taken out for a one-off, larger expense. With a loan, you receive the loan amount in one go to your account, after which you repay (redeem) the amount monthly in equal installments. The repaid money cannot be reissued. An interest rate is agreed in advance on the outstanding amount. With a credit, there is an amount ready at the bank, from which you can withdraw money for a fixed limit when you deem necessary. You only pay the interest on the amount withdrawn and you repay a portion each month, which can be used again if you need it.
Interest SME loan
Because you as an SME run more risk than a large company, the interest for the loan is somewhat higher for you as an SME entrepreneur. In addition, your situation, the industry in which you operate, your options for repaying and the term of your SME loan are important for the financier. The interest can differ per provider, so carefully compare different parties before you start working with it for an SME loan.
SME loan for starters
Start-ups have to fully invest in their business to get off the ground. For this there is an SME loan, which is a subsidy from the government that you should see as a loan between € 50,000 and € 250,000. This loan is intended for starters and existing entrepreneurs, for companies with a maximum of 250 employees and also for self-employed people . The term of this loan is 1 to 10 years and you must repay and pay interest every month.
SME loan from government
The government provides support for SMEs, because the SMEs together provide 75% employment in the Netherlands. Things must continue to go well, which is why the cabinet is supporting entrepreneurs from SMEs. With the Guarantee for SME loans, the central government partly guarantees SME loans. So if you do not have enough collateral, you can use the scheme that strengthens the security towards your financier and so that you can borrow more. You can apply for the SME loan guarantee through your financier. You may borrow a maximum of 1.5 million through that credit and your company must be active for at least 3 years.
Take out an SME loan
Applying for a business loan is a serious task. It is often something that you will be committed to for a longer period of time, so think carefully about what you are doing and with whom you are going to work. If necessary, contact an advisor to have a better idea of whether it is indeed smart to apply for a business loan. Immerse yourself in the various options and see which party suits you best. Always draw up a plan and allow yourself enough time for it. This way, you can convincingly get financing for your business that you can get the most out of. In addition, borrowing always costs money, so be aware of this and do not borrow more money than you need. Also think carefully about the time it will take you to recoup the investment.
Compare SME loans
What do you need? An SME loan or a Microfinance? Which loans are available for SMEs and what are the pros and cons? We understand very well that you want to see the loans at a glance, so that you can make a sound decision. Comparing SME loans can get you started in your plan to borrow money for an important investment. You can compare the loans on the following points:
- Interest rate;
- Penalty clause;
- (Extra cost.
Independent party | mchservicesinc.com
Always compare SME loans through an independent party. mchservicesinc.com is an independent party, which means that we are in no way affiliated with financing parties. We will therefore honestly list everything about the different providers. Which provider is best for you? Compare interest rates, terms and costs. If something changes in the meantime, we will adjust it as soon as possible in the overview. This way you will never be faced with surprises!