Entrepreneurs and sole traders are an important target group with specific requirements for credit products. A number of large banks offer special business loans, but entrepreneurs can also obtain credit from non-bank companies. In this article, we look at loans for business in a little more detail.
Order your business loan online today
As we have said above, there are different types of online business loans and you may view them here. Very often, start-ups take a loan, wanting to start a new business with it and otherwise they would not be able to do without the necessary financial injection. However, a loan for entrepreneurs is also suitable for experienced tradesmen who need to invest in new products or even establish a new branch of their company. A specific type of loan is, for example, an operating loan that can be used, for example, to pay employees, pay different invoices, or purchase goods.
Bank loans for entrepreneurs
The most advantageous loans are offered by banks and this applies not only to ordinary individuals who arrange consumer loans but also to entrepreneurs. They can take a loan from the bank for the purpose of their business and thanks to the loan they have a chance to start their company properly or move on. Business bank loans have a slightly different condition than for basic consumer loans – entrepreneurs can often get much higher amounts. In addition, the offer of each type of loan is quite broad – for example, an investment loan, an operating loan, a corporate loan, or a non-purpose loan that can be used for anything.
Non-bank loan for entrepreneurs
It is usually more advantageous for entrepreneurs to contact one of the banks, but also non-bank companies have special offers intended for sole traders and entrepreneurs. In addition, due to their situation, some entrepreneurs will not reach bank credit and so the non-bank loan is the only possible alternative for them. In addition to higher interest rates, the relatively low maximum loan amount is often a disadvantage, but it is not always true.
Which banks provide business loans with us?
The largest Czech banking institutions offer a range of business loans, for example at Brown or Boling. Both of these banks have a very wide choice, which is also suitable for both start-ups and small business owners, as well as for large companies or corporations that have different needs and require other services.
Which non-bank companies offer business loans?
Even in the non-banking sector, the choice of loans for sole traders is quite varied. Unlike bank loans, few non-bank companies offer special products for entrepreneurs. But they can easily choose from a standard loan offer, and since the vast majority of them are non-purpose loans, it is up to them to make the money. However, some non-bank providers have special business loans in their portfolio. One of the best known is Nadine Credit, which is otherwise focused on real estate collateral. However, in the case of a business loan, Nadine’s liability is not required; the amount of the loan can range from CZK 100,000 to CZK 50,000,000. Another investment company offering a special loan for self-employed persons is Holt Investment. He has recently extended his activities to Prague and the surrounding area and offers tradesmen loans from CZK 100,000 up to CZK 1,000,000 – here, however, the guarantee of real estate is a condition.