The entrepreneurial concept is a term that is very popular in society today. And not only does it refer to young entrepreneurs who decide to bet on their own project as a job opportunity, but to undertake, it also means reinventing themselves. Many people have lost their jobs and have found a new professional development in entrepreneurship.
Loans for companies by traditional financial institutions with these years of economic crisis have become almost non-existent.
On the other hand, all those companies, regardless of their size, who have decided to break into a new market by digitizing or making any type of innovative change in their traditional business system would also be included in this concept.
How to access a Loan for Entrepreneurs?
In general, and due to the hostile economic environment in which we find ourselves, many official state agencies have withdrawn an important part of the funds destined for this purpose, the aid being severely cut in the form of subsidies.
On the other hand, most of the banking entities due to the uncertainty of the markets and the great risk that an entrepreneurial project implies, have hardened the requirements and conditions for the granting of loans of this style.
On the contrary, new financial tools have emerged, closely related to the web environment that they have replaced and by far the traditional financial means.
Let’s analyze some of the options …
Loans for Young Entrepreneurs
Loans for young entrepreneurs are aimed at the most youthful sector of society. These profiles undoubtedly opt for new technologies, which is why Crowdfunding and Crowdlending platforms are usually one of their first options.
This trend has led to a great revolution in the international markets.
Crowdfunding: These are web platforms, in which entrepreneurs can expose their projects with all kinds of explanations images or videos, with the purpose of in a fixed period of time and with a specific objective budget, to reach the collection of the necessary amount. It is based on a system of rewards, through which the creators of the project, in exchange for the different contributions and funds they receive, send a series of prizes to the patrons who usually consist of: t-shirts, sweatshirts, posters and even the privilege of being the first to use the product or service protagonist of the campaign.
Crowdlending: It is based on the crowdfunding operating system but without using the rewards as a prize. They are known as P2P (pair to pair) loans, in which a person requests a certain amount of money to carry out an initiative. The peculiarity is that in crowdlending, there are different lenders to finance a single borrower, who once reached the objective and developed the project, will have to pay back the amount borrowed with a more attractive interest rate than that of traditional banks.
It means cost savings since all the procedures are online, avoiding bureaucracies.
Loans for Entrepreneurs without Guarantee
Through any of the two options mentioned above, you can obtain loans for entrepreneurs without collateral.
There are also other alternatives such as:
Business Angels: these are private investors in search of innovative projects with a clear technological base that are committed not only to their capital but are directly involved in the initiatives contributing their knowledge and experience
Venture Capital Companies: These are companies managed by experts, who try to optimize the capital contributed by other investors, in order to assume great risks but also to achieve high returns.