Could I access a loan to cover my initial business expenses if I haven't yet registered my accounting activity? And do I have to show the business plan?
A loan can be accessed for the initial investment needed to open the business and for the current expenses mentioned, only if there is already a business to refer to. 🕵
From the information presented, we understand that there is not the minimum required activity, the minimum three months in which this business has generated income. We grant financing taking into account, first of all, the revenues generated by the financed activity and only after that we identify the guarantees, these being an element that does not influence the repayment capacity of the financed business.
The business plan is relevant and is a benchmark, but you should not confuse the granting of a loan on the basis of the revenues achieved (the BT Small), with the analysis of projected revenues that do not come in at the same time as realised revenues 😉
