You can receive an interest-bearing business loan of up to €39,057. The interest rate is 8% and the term is up to 10 years. You can use the start-up loan, for example, to purchase equipment, stock or to carry out refurbishment work.
Income
- You have no immediate prospects on the labour market.
- You do not have any problematic debts.
- You are dependent on benefits to make ends meet. Or you are at risk of becoming dependent on benefits as a result of unemployment. Include your partner’s income in your calculation! Together, your combined income is below the social assistance threshold. Is your partner’s income from temporary work? If so, there may be options available. Please ask us about this. Have you voluntarily resigned from a permanent job? If so, unfortunately you are not eligible for this scheme.
A viable business
Your business is expected to be viable. This means that you can be expected to earn an ‘adequate’ income. The income from your business or self-employment, together with any other fixed income (e.g. from paid employment for a few days a week or your partner’s income), must be sufficient to
- Keeping your business running Your income isn’t just for living on. You must also be able to use it for investments and reserves. This means that your income, plus depreciation, must be high enough to meet all repayment obligations (including those under the Bbz). It must also be high enough to maintain the business. You must therefore also be able to make necessary (replacement) investments, if necessary with the help of bank credit.
- Making ends meet We take your individual circumstances into account, not just the social security threshold. Have you been managing on less than the social security threshold for years? If so, we will take this into account when assessing whether your business is viable. The continuity of your business or profession must, however, be guaranteed. Under normal circumstances, an income below the social security threshold does not therefore entitle you to social security benefits. In such cases, you will only receive social security benefits if exceptional circumstances arise that create a need for assistance. Are your personal expenses permanently higher than your income? If so, your business is not viable.
Financing and capital
- Banks or investors are unwilling to provide you with any funding, or are offering insufficient funding.
- Do you or your partner own any assets (such as a home)? If so, you may still be eligible for financial support. If you have a business partner, we will also assess their assets. The value of your assets determines whether the support takes the form of a loan or a grant.
Liability and administration
- You are in charge of your business and bear the financial risk associated with it.
- You and your partner, whether married or not, are jointly and severally liable for the repayment, regardless of any prenuptial agreement.
- Any business partner you may have, along with their spouse or partner, must also provide the necessary information and be prepared to bear all the financial risks associated with the business. They must therefore also sign the promissory note and accept joint and several liability.
- You must keep proper (business) records and submit your tax returns to the tax authorities on time.
The business plan
You must submit a business plan with your application. This plan must include at least the following elements:
- Personal and address details and personal circumstances
- Reasons for pursuing entrepreneurship, your work experience and education
- A description of the services or products you will be providing
- The legal form of your business and how it is set up (premises, staff, etc.)
- Investigation into the requirements for establishing a business, such as the requirements set out in the local environmental plan and the necessary permits
- Market research: a competitive analysis and why you believe your business will be successful
- A marketing plan
- An investment budget with a financing plan
- A detailed operating budget (turnover minus purchases and costs) for the next three years and an opening balance sheet