Although the very process of starting a company is free, we usually need financial resources to start it. For this purpose, we can take out a loan to start. What amount, however, should we apply to cover our needs?
Today, start-up loans are offered both at banks and non-banking companies. Therefore, a person who wants to get money to start a business has a full range of proposals ahead of him. They differ mainly from the maximum amount and the repayment period, including the conditions and costs that we must incur in connection with the loan.
New companies can not count on such good financing conditions as those with a longer period of service. This is primarily due to the lack of income that the company does not yet achieve. Therefore, the institutions do not want to lend such large sums because they are not sure whether they will be committed. Most often, we can count on amounts of up to PLN 10,000 for the start. When we want to borrow a larger sum, then we will have to prepare additional collateral – a blank promissory note, a mortgage, and a guarantee are a few of them.
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A good plan is essential
If you do not know what the loan amount will be right for your new company, prepare a plan. It does not have to be an extensive business plan, although it is very helpful in the initial phase of operations. In the document, we should include information about our initial costs – purchase of equipment, materials, goods, rent of premises, making a website, subscription for a telephone, purchase of an insurance policy, to mention a few options. Of course, everything depends on the industry and the company itself.
Remember that the initial calculations do not always coincide with reality. Quite often, the costs are higher than initially assumed, so we should take a higher loan. In addition, the company usually does not start to generate profits immediately, so it is worth thinking about such a loan that will be able to cover expenses planned for the first months, for example, bills, rent, stock of goods.
When the company does not carry out any specialist activities requiring the purchase of expensive equipment, usually a sum of PLN 5,000 is sufficient at the beginning. Otherwise, the costs can go even in tens of thousands of zlotys for new equipment. It is worth pointing out that we do not always have to decide to buy new equipment. We can think about renting or leasing it.