With us you can easily apply for a loan for your company – on the best terms. the essentials in brief
- A company can quickly rely on a loan if it is planning a major investment. Even if the company does an excellent job.
- Financial institutions therefore offer loans for companies on different terms and acceptance guidelines than for private individuals.
- Depends on whether a bank granting the loan, the purpose of financing, the loan amount, the creditworthiness of the company and the number of borrowers.
- Often companies have better credit cards if they bring in equity.
- If you need a loan, you are welcome to use our free loan comparison on our website. For sums above $ 121,000, advice should be given in writing or by phone.
On this page The company loan and its forms Our service for you and our loan calculator The interest for a company loan & calculation example company loan in 3 steps These documents do you have to submit company loan with or without equity? Increasing the probability of acceptance of credit “from private” and other sources of funding Notes for comparison
This is a company loan
If a company needs liquid funds for a certain period of time, a company loan is an option. It is also called a business loan or a commercial loan and can be used by self-employed persons or companies. The creditor grants this against payment. The terms of the loans can range from a few months to several years. When a company needs capital quickly, it takes out a short-term loan. Most corporate loans have a longer term for certain investments.
Companies take out loans for these reasons:
- There is not enough equity available for a planned investment.
- The company’s liquidity is to be secured.
- The income suddenly drops and capital is needed to cover the running costs (e.g. wages or current bills) (more under in the guide contribution to the overdraft facility).
- A company is founded (more on this in the article Credit for start-ups).
- When the company is doing well and therefore more real estate is needed.
- A company wants to buy a new vehicle.
- The costs for new software, computers and licenses are too significant.
The advantages of a company loan:
- Improvement of key corporate figures such as return on equity.
- The company has more cash.
- The interest charge can be deducted from tax.
- Although own funds are insufficient, current and fixed assets can be financed.
- There are no capital providers that determine how the company should operate.
As a borrower, companies differ significantly from private individuals, because the creditworthiness of traders can often not be determined using a few parameters. After all, a well-managed company can be dependent on a loan, without this having to be a sign of poor profitability.
Banks have adapted to the needs of companies and sole traders and offer a loan for companies in which both the terms and the acceptance guidelines differ from a personal loan.
Different forms of corporate loans
- Current account credit: This credit finances the current assets of companies. If e.g. B. a company urgently needs to pay rent, wages or other claims. Current account credits (also called working capital loans) are also popular to secure liquidity or to finance certain goods. Most of the financing volume is small or medium. The terms are also rather short or medium-term.
- Investment credit : A large number of companies use loans to finance an investment and thus fixed assets. These can be new machines, furniture or vehicles, for example. Most of the time, the loan volume is relatively large and the loan term is rather long.
- Start-up loans : If you want to start a company or start your own business, a loan for start-ups is well advised. In this way, founders have the necessary financial means to be successful with the business idea.
- Real estate loan : Many companies take out a loan for construction finance. Here one assumes a longer debt. During periods of low interest rates, companies can benefit from low interest rates. Because these usually do not change during the contract period.
If you need a loan for your company, we will be happy to help you. You can easily apply for a loan on our website transparent-beraten.de. Use the free loan comparison to determine your options for a commercial loan. There you can calculate the conditions for loan projects of up to 121,000 USD with just a few clicks.
If your investment is higher, a personal consultation is worthwhile. Our experts will be happy to help you find the best loan for your company.
The interest on a corporate loan
The interest and the installment rates are an essential feature when choosing corporate loans. You can see the current interest rates of the various providers on our free loan comparison. Basically, the following applies: With higher loan amounts and longer terms, the risk of the bank and thus the interest burden increases, as the calculation example shows:
Calculation example: For corporate loans, interest rates change with different terms and amounts of money
|net lending||running time||monthly rate||Effect. APR|
|20,000 USD||12 months||1,673 USD||0.68%|
|20,000 USD||108 months||207 USD||2.49%|
|100,000 USD||12 months||8,405 USD||1.59%|
|100,000 USD||108 months||1,060 USD||3.08%|
However, there are many other factors that banks take into account. A high credit rating as well as equity and collateral that you bring in can reduce the interest burden. The intended use is also decisive. If you want to buy a property or a machine, for example, banks often offer favorable conditions.
Effective interest counts when comparing
When comparing, the effective interest counts. It can be used to determine the actual costs. Because factors such as the duration, the agency commission or the processing fees are also included here. The borrowing rate, on the other hand, is only the pure loan rate. It is also important that you pay attention to whether the interest is fixed or variable. A fixed interest may not be changed during the term, but a variable one. It is worthwhile to agree on a fixed interest rate, especially during a low-interest phase.
… more about the cost of credit
Company credit in 3 steps
Via transparent-beraten.de, you simply apply for a loan for your company for less than 121,000 USD. The following three steps are necessary:
- View offers
- Select an offer
- submit documents
1. View loan offers
Select your desired loan from the offers. Use the online offer calculator for this. At the same time, provide your personal details so that the loan experts can really determine the cheapest offer for you. This is important because almost all corporate loans are credit-dependent. A comparison is not possible without information.
2. Select credit
Once you have given your details in the first step, you will receive loan offers that are tailored to your needs by email. In the course of this second step, a loan expert will contact you to clarify open questions and, if necessary, to check whether there are any cheaper offers.
Advice and help free of charge and without obligation!
Up to this step, all steps are free and non-binding – including advice from the loan specialist! This is only the case after the third and final step.
Basically the following applies: Costs arise exclusively from the loan itself! The intermediary work is paid for by the banks, so that there are no costs for private and business customers.
3. Submit documents
If you have decided on an offer, submit the loan application together with the required documents.
During the submission process, you will be asked to confirm your identity. Depending on the bank, this is possible via e.g. B. the PostIdent procedure (in a post), the VideoIdent procedure (via a short video call with the bank) or via a bank branch (if the bank maintains a branch network).
The approval of the loan application usually takes only a few working days. Once the application has been approved, you can quickly post the incoming payment to your account.
You must submit these documents
There are no uniform regulations regarding the documents to be submitted. In addition to the in-house requirements, the banks are obliged by the regulatory authorities to query or request various things. For this reason, the specifications are similar.
Documents often requested by companies
- Extract from the commercial register – including details of other branches and the subject of the company
- Business evaluation (BWA) – Information about the company’s earnings
- Financial plan and financing plan
- bank statements
- Articles of association and contracts with which banks can examine liabilities and obligations towards third parties
Can add u. U. a cash flow statement (details of the company’s cash flows), tax assessments and an evaluation for industry or business comparison.
Different rules apply to freelancers and the self-employed.
Documents often requested by the self-employed
- Business evaluation (BWA) – Information about the current income-expenditure situation of the current marketing year
- Proof of income tax – alternatively, surplus or profit-loss accounts are often accepted
- Advance sales tax return (only in some cases)
Your loan specialist will tell you which documents are required for a specific loan for companies.
This way you can find out which documents are really needed Enter your details in the free and non-binding loan comparison (top of this page), choose a suitable offer and wait for your loan expert to contact you. This gives you all the information you need to successfully apply for a loan – free of charge and without obligation.
Corporate loan with or without equity?
The lending banks inquire about the financing purpose for financing inquiries. The purpose is important for the banks, since z. B. the financing of machines, the purchased equipment can be sold again in an emergency. The proceeds of the sales then go to the bank – the risk is manageable for the bank. The following collateral can also have a positive effect on the conditions of the company loan or increase the probability of acceptance.
Collateral for corporate loans
- Machinery or other fixed assets
- Securities and participations
- Receivables from customers
- life insurance
In turn, when it comes to paying salaries, the bank remains at the expense in an emergency. Once paid, salaries cannot be claimed back. For this reason, many financial institutions often only approve financing if the company brings in a certain amount of its own for the purchase or the project. If there is no equity, funding is often difficult or impossible.
Increase the probability of acceptance
Regardless of whether you have equity or not, there are other factors that significantly affect the likelihood of a loan being accepted. The following is important:
Influencing factors when applying for a loan There are 4 factors that influence the probability of acceptance:
- the financing purpose – financing with or without earmarking?
- the loan amount – low or high loan amount?
- the creditworthiness – good or bad creditworthiness?
- the borrowers – one or more borrowers?
The purpose of funding is often fixed when the application is submitted and cannot be changed. Applicants wishing to apply for a loan without earmarking should, however, consider whether a loan with earmarking is eligible. The conditions are usually much cheaper here.
Borrowers often also have no scope for the loan amount. However, anyone who can fall back on financial reserves should check whether they can be brought into the financing project. Because a lower amount of financing not only increases the probability of acceptance, but can also lead to the bank granting more favorable terms.
Applicants can have a positive impact on creditworthiness with the following measures.
Measures to improve creditworthiness
- Redemption of the current account credit
- Return unused credit cards
- Repayment of open loans
- Avoid unnecessary credit inquiries (meaning: concrete inquiries with a bank)
Credit despite Credit Bureau?
If you fear that there are unauthorized negative entries at Credit Bureau about your company, you should obtain a Credit Bureau information for checking. Incorrect information can be deleted from the data record. Under certain circumstances, you can apply for a loan despite Credit Bureau. For example, if the loan amount is small and they repay all loans.
“Private” credit and other sources of money
If no bank is willing to grant a company loan without equity, there is the option to apply for a loan “from private”. With this form of financing, no bank provides the financing, but a private individual.
Donors and borrowers find z. B. to each other via online providers. The advantage of these platforms: the providers not only mediate, but often also take over the processing, i.e. the assessment of the creditworthiness (if offered) and the initiation of the payment and repayment. In addition, both sides remain anonymous – the lender often only receives information about the borrower’s creditworthiness. The identities are only known to the portal operator.
Attention: high interest rates for private loans!
When private individuals make part of their financial resources available, donors do so in order to generate a return. From the perspective of the lender, a “private” loan is therefore in competition with other forms of investment. The interest that the borrower is supposed to pay for the loan must be so high that the lender earns at least as much money from the transaction as with any other form of investment. For this reason, the interest on loans “from private” is not exactly cheap!
Borrowers should only resort to this type of loan if traditional financial institutions refuse to finance them!
More opportunities for companies to get money
If a company needs money, there are other points of contact. Here are some tips:
- Ask friends or relatives if you are giving them capital. Here, too, it is worth keeping the bond contractually.
- Many funding organizations offer companies capital on favorable terms. There are private organizations or initiatives at the level of the municipalities, the federal states or the federal government. KfW Bank also grants many companies start-up or business loans.
- Unemployed people can also receive a business start-up grant. This is applied for at the employment office. Documents such as a business plan must also be submitted here.
- Issuing bonds or securities is also an opportunity for companies to get fresh capital.
Notes for comparison: How to find the right company loan
Before you apply for a loan for your company, it is worth considering the following points:
- How much should the loan be and why do you need this amount?
- How well can you justify your loan project?
- How long should the loan be for?
- Do you have any collateral that you can give the creditor?
- Are all the necessary documents available?
Stay authentic and critical
Once these questions have been answered, there is nothing standing in the way of finding the right lender. Your personal credibility is also crucial. So stay authentic in the conversation and appear confident but not overbearing. It is also of no use to disguise unpleasant facts about your financial situation or to answer evasive questions. The bank will find you anyway. It is better to be as open as possible from the start.
If you have offers on the table, take enough time to compare them. Because the cheapest interest is not always the best solution for your company. It is also worth studying the contract carefully. In the box you can see the important factors:
You must pay attention to these factors in the loan agreement:
- Can the loan be repaid unscheduled with a one-off payment or annual special repayment?
- Can you agree a repayment-free period and thus postpone the loan repayment until e.g. B. Are profits made?
- Are the installments due monthly, quarterly or annually?
- Is the interest rate fixed or variable? Variable interest rates can change at any time during the term.
- What is the exact composition of the repayment plan?