Founding a company, for example a UG or a GmbH, is always associated with costs. If the existing savings are not sufficient or only partially sufficient, the remaining financial requirements must be financed by borrowing.
External financing with a credit or loan can be of particular interest to young entrepreneurs, regardless of their financial requirements, if they can claim the associated costs such as interest and repayment as operating expenses for tax purposes. Whether an online or brick-and-mortar store, there are various initial financing options available for setting up a UG. Several of them are explained here in brief; details can be found online for the respective financing offer.
Development loan from the Kreditanstalt für Wiederaufbau KfW
The ERP start-up loan "StartGeld" is full financing, i.e. without pro rata self-financing, up to an amount of EUR 100,000. The loan is ideal for setting up a new self-employed business from a previous sideline.
The "Universal" ERP start-up loan
is a similar form of financing for full financing up to EUR 500,000. The UG can also apply for this start-up loan within five years of founding the company.
Business start-up grant from the job center
If the personal requirements are met, the allowance is paid out in six monthly installments of 300 euros each. The receipt of unemployment benefit, ALG I, continues in parallel. If the company is successful, a second approval phase of nine monthly installments of 300 euros each follows. The simultaneous payment of ALG I is then discontinued without replacement.
Financing through the house bank
The content of the offers is largely the same for all banks. The options include.
an increased overdraft facility
short overdraft facility as a rather expensive option due to the high debit interest.
the creditworthiness-dependent installment loan
with constant monthly repayment installments for interest and repayment.
the creditworthiness-dependent credit line
with a small base amount for the monthly payment. The credit line is available as required. The UG management can, but does not have to, utilize it. The credit line is comparable to the revolving credit of credit card providers.
