The balance of last year has left a greater tendency to develop work activity as a self-employed person. In effect, the Special Regime for Self-Employed Workers (RETA) has closed the year 2017 with a growth of this professional segment by almost 3% compared to last year. It is found that many of these people have opted for open a company or business from their professional projects. Gaining greater relevance among young people, by opening new doors to find a job opportunity, by becoming one of the sectors where unemployment has a greater incidence.
Not surprisingly, the youth unemployment rate at the end of 2017 is 45%, according to the Labor Force Survey, published by the National Institute of Statistics (INE). Although falling with respect to 2016, where young people under 25 years of age who were out of work was above these levels. And that together with the entrepreneurial spirit of some of them, affects their desire to create their own company.
Within this scenario presented by the national labor market, achieving a loan It has become one of the priority objectives for entrepreneurs and small entrepreneurs who want to promote their professional project. The task is not easy on many occasions, where the scarcity of offers, and the conditions that drive their models make their applicants withdraw. Simply because they cannot assume the debts generated from these credits.
First company: what models?
As it is a more special line of credit, it requires also different contracting conditions, where it is always channeled through microcredits. In the first place, it will be necessary to present a viable project, and that has the approval of the issuing entity of these products. It is true that they do not offer spectacular amounts, with an estimated maximum around 30.000 euros. In exchange for promoting a grace period that can reach between 6 and 12 months approximately. It is a period of time during which the holder only pays interest without amortizing the capital. They are generally linked to financing lines for young people. With a very specific purpose, which is none other than to help them make their return more comfortably over other more complex considerations.
The elimination of their commissions (study, opening, early repayment ...) is another of the common denominators that these credits present today. They have a repayment period that is usual for these amounts, with a maximum term of up to 5 years. With an interest that in most cases is below the 10% barrier, and that can even be lowered by contracting other banking products (pension plans, insurance, investment funds ...) As one of the most relevant news of this very special line of credit that we are talking about in this article.
They grant up to 30.000 euros
The main difficulty that new entrepreneurs have is accessing a source of financing with which they can translate their projects. To help them solve this problem, the banks have developed an offer that is tailored exclusively to create the first company. Through amounts that can reach up to 30.000 euros, and that are presented under different formats in terms of their contracting conditions. However, through timely negotiation these margins can be exceeded granted by banking entities.
One of the entities that has signed up to this commercial trend is Unicaja through the First Company Loan, which is intended for young people who maintain this profile when applying for the credit line. In any case, it is characterized by the fact that within its contracting conditions it admits the possibility of reducing the monthly fees they have to pay. It grants an amount that reaches 80% of the investment, with a maximum of 18.000 euros. Its recipients, on the other hand, will have a period of up to 5 years to repay it, in line with other sources of financing of a different nature.
Another proposal that is proving to be favorable for exporting this financing among clients with this peculiar characteristic comes from Banco Sabadell. It has chosen to offer the Entrepreneur Loan, which serves both to promote self-employment projects and conventional lines of business. In this case, it finances the entire investment. Counting on a term for its return of up to 5 years. It is distinguished because it contemplates a grace period of 12 months. And in any case under the application of a fixed interest and with lower commissions.
The current banking offer for new entrepreneurs is completed with another model with similar benefits and that can satisfy the aspirations of liquidity seekers. This is the Business Loan that ING Direct has promoted so that young entrepreneurs can create their own line of business. For the self-employed they generate a interest rate of 6,95% NIR (7,18% APR). And without any commission that could increase the final cost of this product, as one of its most relevant contributions compared to the offers of the competition.
Microcredits for entrepreneurs
Microcredits are small loans made to people who have greater difficulties in accessing traditional means of financing. Not only are they marketed to meet their social needs, but a window has been opened so that this professional segment can access these models, and with greater advantages. This is the idea that Microbank has been developing for several years (a social bank specialized in this kind of products and that depends on La Caixa) to facilitate their concession. Provides indistinctly microcredits for entrepreneurs, freelancers and micro-businesses. Each of them under its own characteristics in terms of the conditions in the hiring.
One of its main proposals comes from Microcredits for Entrepreneurs, which is aimed at professionals and freelancers with annual income less than 60.000 euros, as well as micro-enterprises with less than 10 employees and with a turnover of no more than two million euros per year. It grants the entire project, with a maximum amount of 25.000 euros. It is marketed with a repayment period of 6 years, which can be included, optionally, a grace period that reaches 6 months. And in any case, without real guarantee, as an innovative element at its launch.
What are the purposes?
If you yourself have an idea that you want to develop, you can request one of these credits that we have exposed to you. Because the main problem for new entrepreneurs is their beginnings since the scarcity of economic resources is one of their great obstacles. To the point that it makes them give up the attempt in many cases. With this objective in mind, these special lines of credit have been created that can be of great help to you at some point in your life. As long as you comply with the conditions in your hiring. Because of course it is an offer in clear expansion in Spain. Above other financing modalities.
In all cases, apart from the requirements that will be demanded from the banks themselves, it is essential that present an attractive and suggestive project. But above all it is very realistic and they see that it is clearly achievable. This is one of the keys to grant you a loan of these characteristics. Even more than your answer to return the amount since the deadlines can be made more flexible depending on the development of your company or line of business. It is something that you should anticipate before going to your bank branch to find the corresponding financing and that differentiates it from other more general lines of credit or at least not so specific.
Advantages in this financing
Of course, these credits provide a series of advantages that are not present in other liquidity points offered by banks at the moment. To begin with, they offer you greater facilities for the payment of the amounts and that materializes with the inclusion of a grace period that can be very interesting for your professional interests. On the other hand, they are credits that can be negotiated before subscribing. This means that you are in perfect condition to improve your conditions. At least to pay more competitive monthly installments than from its origin. With a very important saving that will help you to allocate this amount to other needs in the development of your small business or business.
You have to mature the professional project to get the claim approved. If this is the case, you will have a lot of ground ahead since you can even opt for a less demanding interest rate than the one they have been offering you until now. Commissions will also be less expansive than through credit lines for individuals or at least for consumption. With what through this commercial strategy you can also promote savings in a very satisfactory way for your interests. And finally, know how to negotiate. With a very important saving that will help you to allocate this amount to other needs in the development of your small business or business.