How to get a loan to open a business

Not everyone who wants to start their own business has sufficient funds for this. In this case, you can attract an investor or contact the bank to get a loan. The latter method is preferred if you want to own your business completely on your own.

Instruction manual

1

Make a business plan. It should indicate not only the necessary amounts, but also the goals for which they will go, the development plan of the company, as well as the expected time for reaching self-sufficiency. Thanks to a well-written document, you will increase the chances of the bank approving your project. Consider in the plan and cost of property insurance and liability for paying a loan. Most likely, this will become a mandatory requirement of a financial organization.

2

Find a bank that is ready to provide such a loan. This will not be easy, since most financial institutions lend only to existing enterprises and firms. But such programs are, for example, in Sberbank. However, to participate in them, the borrower must meet strict conditions. He must have at least 30% of the amount necessary to start a business. Also, a business should be opened under a franchise, that is, not completely independently, but on the basis of the purchase and development of technologies and a brand that have already been created by another organization.

3

Collect the package of necessary documents. Depending on the bank, it may differ, but a passport with permanent registration, a military ID for men, as well as papers on registration of a legal entity or individual as an individual entrepreneur are mandatory.

4

Transfer papers to the bank branch and fill out the application form. Wait for a decision. It can take from one day to a week, depending on the work of the bank's inspection service. Upon approval of your application, the money will be transferred to your account after signing the loan agreement.

note

If you refuse to receive a loan as an entrepreneur, you can get money as an individual. But keep in mind that in this case the amount may not be enough to start a business - many banks limit the amount of loans to individuals to a million rubles or its equivalent in foreign currency.