Loan for newly opened company

[369]

Is it possible to receive a loan on a newly opened company with downpayment for a sailboat with good conditions in USD/GBP/EUR ?

 

[Don]

Is it possible to receive a loan on a newly opened company with downpayment for a sailboat with good conditions in USD/GBP/EUR ?

What do you think is good equity proportion, interest % and payment schedule?
What can you pledge as a collateral?
How much is the required loan?
Can you present yourself as a profitable client?

Lending is very circumstancial, but the short answer is "yes" (but does it apply to you is a different story).

In some countries you could probably even get a government grant on top of the loan for starting a tourism business to buy the boat.

 

[BA UK]

Is it possible to receive a loan on a newly opened company with downpayment for a sailboat with good conditions in USD/GBP/EUR ?

Hello,

UK Government grants are available in all kinds of forms – from reduced costs and free equipment, to cash awards to help your new business grow.

Generally, government grants come in the form of a direct grant.

• Direct grant – this is money given to your new business to cover start-up essentials such as training, investment in equipment, or reaching new markets such as overseas exportsopens in new window. Most grants will expect your business to provide 50% of the value of the grant, but funds of up to £500,000 are available depending on your business sector.

Alternatives to business grants​

Business grants may not always be available or suitable for your business.

But the good news is that there are alternatives to business grants out there, such as:

• Equity finance – This is when you sell a share of your business in return for finance. Some equity finance schemesopens in new window, such as the Seed Enterprise Investment Scheme, offer up to a 50% reduction in income tax on investments made in new businesses up to £100,000. Businesses have to be less than two years old and have fewer than 25 employees.

• Soft loan – These are similar to grants, but are actually loansopens in new window with lower interest rates and more generous terms than can be found via other lending routes. Backed by the government, the Start Up Loans schemeopens in new window offers personal loans of up to £25,000 with a 6% interest rate and access to free business support and mentoring.

Thanks