You have a great idea, and you are motivated to start your business. But now, you do not have the necessary funds to finance it. Whether it is to build up start-up capital , invest in equipment or premises, money is the sinews of war … and very often one of the main obstacles to the launch of an activity and then to its growth.
Should you therefore give up your desire to undertake for lack of means? Not necessarily ! Several solutions and aids are available to you to finance your project quickly and easily. Find out which ones.
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To stimulate the economy, the public authorities, and in particular the Regions, offer various aids and subsidies for the financing of companies. The allocation rules vary according to the sectors of activity.
First of all, check if you can benefit from public aid . There are also specific bodies such as the Brussels Guarantee Fund or the Walloon SME Financing Company.
For information on this subject, you can contact our business counter , which is there to advise you and support you in all the steps related to the creation of your activity.
This is the most obvious solution, but not always the easiest. Your first instinct as a project leader may be to apply for a loan from your bank. But to grant it to you, it will first examine the guarantees that you can provide, whether financial, possibly going as far as the seizure of your property, or in terms of repayment capacity or solidity of your business plan .
You have two options: apply for a loan to finance your company, or take out a personal loan. The granting of the latter is based on your financial situation and not on your business plan, but it is more risky and can compromise your financial security if your activity were to find itself in difficulty.
In addition to the fact that you will have to repay sometimes high interest, the loan is likely to be refused if you already have other loans or if the bank judges that the risk is too high .
As for a mortgage, do not hesitate to put several banks in competition. Some specialize in freelancers and small businesses, and may be more willing to help you .
Are all the doors closing? Do not panic, there are alternative solutions .
2. Your loved ones
The Coup de Pouce loan , the Walloon equivalent of the famous Flemish win-win loan, was precisely designed to support business creators , and in particular those who are unable to find financing through traditional channels. It provides a tax incentive for individuals who invest in young Walloon companies (less than 5 years old).
This device allows you to borrow money from friends or family under the following conditions:Because it makes it very easy to access advantageous credit, the Helping Hand loan has been a resounding success . But everyone does not necessarily have an aunt with a well-filled woolen stocking. Or maybe you don’t want to involve your loved ones in your business for fear it will harm your relationships? There are then other solutions to turn to.
Microcredit is precisely there for entrepreneurs or starters who do not have access to financing by traditional banks , either because they already have several loans , too modest means, or because they are job seekers or on file. at the National Bank.
Of limited size, these credits can thus make it possible to invest in equipment or the purchase of a vehicle, the financing of stocks, but also in cash flow. To benefit from it, you must:
Infographic created by Donnelley Financial Solutions, ESG reporting software