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.

photo (c) The Daily.SK

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.



  1. On the subject of non-jobs – I see that thousands of teachers have had to attend special courses on the use of reading comprehension because of the poor standards students are achieving. The teachers were originally against this which bodes the question – How can any teaching qualification be awarded to a potential teacher who does not understand or agree with the use of such a basic and simple classroom tool?
    Also, teachers are yet again holding their hands out for pay hikes, their argument being that increased expenditure on education will benefit the country? I agree, but not by paying the incompetent more money for the same lack lustre results – provide the kids with decent text books, invest in school technology, provide a broad range of extra curriculum activities and start employing teachers fit for the 21st Century, trained and proficient in modern educational techniques.

  2. If this scheme is anything like the circus that has to be endured to obtain EU funding for business start ups it will be just another non-job creation scheme.
    “Certain qualifications” – 1. Slovaks only, 2. Slovak language only. 3. Fat, well stuffed brown envelope required. 4. Relative, friend or have the right connections.

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