Small business startup loans no credit check: Borrow today
If you are looking for a loan to start or expand your business, you can choose from a range of start-up loan companies. Small business loans startup loans are eligible for businesses that don’t have credit scores. You have to submit a number of supporting documents for a loan application in the bank – you need a tax return for the last 6 months, positive equity, you have to document the debts of social and health insurance and the tax office, the pledge of the property is also required. The business loan application is usually part of the application for a business loan. It takes 3-5 days to approve a loan for entrepreneurs. You can get a loan for starting entrepreneurs up to CZK 300 million. Maturity is between 18 months and 20 years. The loan is usually non-purpose and the installments are an annuity. Getting a bank loan is especially difficult for start-ups. Interest rates are based on an individual assessment of your application. The condition for starting entrepreneurs is to have an account with the bank or to set up a bank account. Account maintenance fees vary by bank. Loan fees are usually based on a percentage of the amount provided.
Non-bank loans for start-ups are easier to access. As a rule, you can borrow a commercially available consumer loan without proof of use. Loans are without looking into the debtors’ registers, without enforcement checks and income proofing. Higher amounts require property collateral. Small amounts can be borrowed from 500 CZK to 12 000, higher amounts from 10 000 to several million. If you are applying for a loan of several million, it is necessary to pledge the property or to guarantee the property of a third party. It depends on the selected company. Some non-bank companies will lend you smaller amounts as opposed to submitting invoices for the last three months. Short-term loans are usually payable within 30 days, with the possibility of extension, longer loans can be repaid for up to 20 years.
Loans for self-employed persons
In the case of non-bank loans for start-up entrepreneurs, you submit the following documents to the application – tax return for the last 6 or 12 months, identity card, second proof of identity, bank statement, sometimes also a certificate of debt to the FA and other institutions. A loan for start-up entrepreneurs is a no-purpose loan. You can use it to expand your business, purchase goods or pay factor to suppliers or to renovate or purchase real estate. As a rule, you are notified of a loan approval within 60 minutes by SMS message and email. You will be sent money immediately. In the case of larger loans, you will receive the money within two days.
Beginning entrepreneurs can borrow in the form of overdraft, leasing or revolving. Just calculate which loan will pay you, according to the APR, repayment period and installment amount. You can try free online calculators to compare loans, the request is always non-binding. You can apply for a start-up loan online, by phone or by visiting a branch where a qualified employee or sales representative can help you to sign up for a contract.