Business Loans | Borrow Money for a New BusinessOn July 2, 2019 by admin
When starting your own business, it is a good idea for a startup entrepreneur to carefully weigh their skills and goals for their business and the type of business that suits them. Initially, an entrepreneur should carefully anticipate the adequacy of his or her cash resources, even for bad days.
Up to half of start-ups will cease business within the first three years. The reason for closure is often the lack of capital . As a result, business is not getting off to a good start.
Financial planning is very important
It is essential for a successful entrepreneur to make a careful financial plan well in advance of starting a business. In addition to the substantial investments, it is necessary to plan the working capital, ie the amount of capital committed for the company’s running business.
It is also particularly important to draw up a plan on how to generate business profits. A start-up entrepreneur should also consider the equity financing of his company. In addition, accounting and tax planning for a company is useful.
Initially, a company has many cash holes
Especially in the early stages of a business, it often takes more money than it will. The company has to find suitable premises and pay any rent security for the premises. In addition to the costs of the office, you also need to invest in the necessary furniture and equipment. In addition, employees’ salaries and insurance premiums start to accrue from day one.
Bank loan companies
In Finland, there are many providers of finance as well as various forms of loans and grants. A bank loan is generally known as a financing option. However, getting a loan from a bank is not a matter of course , as loans are only granted to creditworthy companies.
The greatest challenge for start-up entrepreneurs is to prove the profitability of a business, which can be difficult at the start of a business. The loan should also be secured by the personal property of either the company or the entrepreneur.
Funding from Fincost Finance or the Fincost Center
An entrepreneur can also receive funding for his or her business, for example from Fincost Finance. Financing provided by a Finnish state-owned special financing company is usually less secure than an ordinary financial institution. Fincost Finance makes its financing decision on the basis of a business survey.
The Fincost Centers, for their part, usually provide, for example, wage subsidies and start-up grants to start-ups. The purpose of the start-up allowance is to secure a new entrepreneur’s livelihood during the first months of operation, when the entrepreneur’s bread can be really tight.
Corporate finance fast – no collateral
If the entrepreneur does not get the loan he / she needs from his / her bank quickly, the Corporate Loan offered by Goldencoin is a viable option . The Goldencoin Corporate Loan is unsecured and only requires a personal guarantee.
In the case of an unsecured corporate loan, the entrepreneur does not have to obtain external loan guarantors or make his assets a pledge of repayment. Compared to bank loans, corporate loans offered by Goldencoin have the clear advantage of speeding up the application process.
Goldencoin – Loans for Startups
The Finnish finance company Goldencoin’s loan service is ideally suited for small businesses that need flexibility in the face of the company’s changing financial challenges. Corporate loans are also available for newly started Finnish companies .
Goldencoin provides companies with loan capital of EUR 1,000-100,000 over 3 to 12 months without real security.
Goldencoin pricing is clear. There is a fixed delivery fee for each loan amount and term, which includes all costs associated with the loan. The corporate loan is repaid in equal monthly installments.
After the guarantee, the money quickly into the account
The Goldencoin Corporate Loan can be granted to Finnish companies that are registered in the Trade Register. The executives of the company must be reputable Finns. The loan is contingent on the creditworthiness of the company and its officers, as well as the personal guarantee of a private individual or persons.
The guarantors accept their pledge before the loan is processed. Guarantee commitments are handled electronically online. The loan application is processed within a few hours on weekdays, and the issued Corporate Loan will usually be credited to the applicant’s account within the same day that the loan application is approved.
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