Funds for starting a company - where to start?

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The business idea is there, there are good intentions. However, funds are needed to start a company, which are often lacking ... unfortunately, money is the most important aspect and it is difficult to get started without it. Many entrepreneurs decide to take out a loan to start a business that will help get their business started and get back on their feet. An entrepreneur equipped with a business plan goes to the bank for the first interview. Read the article and learn about alternative ways to subsidize the company.

First call at the bank and a good impression

Usually, the first interview turns out to be quite an unpleasant experience for the entrepreneur. No matter how good our business plan is and how confident we are of our options, the bank may question them. Credit card debt can reduce your creditworthiness. Of course, novice entrepreneurs have the biggest problem with getting a loan to start a business, but it is not impossible!

Although the banks do not admit it, it turns out that they check loan applicants even on social media. Mainly because it is the Internet that allows you to verify the accuracy of some of the information provided by the borrower. Banks use the so-called a scoring method that covers various issues, including those that may seem very trivial. Because, would the borrower know by entering his contact number that by entering his home number he would be more reliable than by providing a mobile number?

That is why it is so important to prepare well for the interview and to have answers to even these seemingly the least important questions.

How much money can I apply at the bank?

As a beginner entrepreneur with practically zero creditworthiness, there is no need to cheat - you can get a maximum of several or several thousand zlotys. However, when starting a business, much larger funds are needed to start a business. Some banks have a loan offer to start a business, thanks to which you can receive a cash injection.

Some banks, before granting a loan (credit), require meeting many conditions, e.g.

  • not be punished in the period of 2 years before applying for a loan, for offenses against economic turnover;
  • not to conduct business activity in the period of 12 months before submitting the loan application;
  • not to be employed or not to perform any other gainful activity.

When to submit a loan application to the bank?

The deadline for submitting a loan application to the bank depends on the individual decisions of the company. However, it is worth bearing in mind that some banks require a certain period of time to operate before submitting an application. One of the conditions for submitting a loan application may be the minimum duration of business - for at least 6 - 12 months - depending on the bank. However, there are also banks to which you can apply for a loan for financing on the first day of business.

The loan application can be downloaded from the bank or from its website. Depending on the bank, the completed application can be submitted in person, by phone or online.

Before the entrepreneur submits the application, he should get acquainted with the regulations of a given bank and what it requires.

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What documents should be attached to the application?

The bank where the entrepreneur applies for a loan decides about the required documents that should be attached to the application - so you need to know the regulations for granting a loan from a given bank. The most common documents required by the bank are:

  • certificate of entry in the business register,
  • certificate of REGON and NIP numbers,
  • the spouse's consent to incur a liability or a decision on property separation,
  • excerpt from the National Court Register,
  • company agreement,
  • tax declaration for the completed year,
  • KPiR summary, amortization tables or a printout from the system;
  • full accounting - balance sheet and profit and loss account for the last two years and the current period (additional information, statement of changes in capital - if prepared),

EU subsidies - as funds to start a company

EU subsidies enjoy unflagging popularity among novice entrepreneurs. There is more than one form of obtaining funding from the European Union. To find out which subsidy programs operate in the voivodship applying for funding, it is enough to go to the local employment office or marshal's office or use the website

You can apply for funding from such programs as: Human Capital, Rural Development, Research and Innovation or Leader. A very good option, in the event of a bank's refusal, is also the JEREMIE or Jasmine initiative - low-interest loans and credits from the European Union, addressed to small and micro-enterprises.

When to submit an application for EU funding?

The application for EU funding should be submitted in accordance with the date provided in the application call schedule. EU competitions must be closely followed in order not to miss the relevant deadline. On the website devoted to EU funds (, at the beginning of the year or month, schedules for the start and end of competitions are provided, along with detailed descriptions of a given type of funding.

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