State Loans for Startups from Next Year
If you have a good business idea but can’t get funding, as of next year you might be able to get a loan from the state to get your idea off the ground at an interest rate of 4%, according to a new plan of the Ministry of Finance.
For new businesses, getting money from banks is complicated with no proven track record or collateral, and so the new loans scheme, which offers loans of up to EUR 5,000 (possibly more), could help many innovative start-ups get their projects started. The loans would be repayable by one to five years.
Certain criteria will still have to be met, of course, including certain qualifications of employees and a maximum projected turnover, but these are still to be set.