The path to self-employment requires careful preparation, especially with regard to financing. A professionally prepared business plan is crucial, whether it is for starting a new company, for growth phases, for bridging payment bottlenecks or for applying for funding. This article gives an overview of what is important when obtaining financing from a bank, what to look out for in bank meetings and how to optimally design the business plan for the bank.

Financing by the bank or development institute:

The capital requirement can be financed either through a loan from a bank or a low-interest loan from a development institution such as KfW Bank. The term of the loan should not be longer than the useful life of the investments financed with it in order to avoid unnecessary costs due to longer interest payments. The level of interest depends on the borrower's risk and the collateral offered.

Types of credit:

Depending on their term, loans are divided into short-term, medium-term and long-term financing. Short-term loans include, for example, current account loans, supplier loans and bills of exchange. Medium- and long-term loans, on the other hand, are used to finance fixed assets and long-term parts of current assets.

Credit comparison and bank selection:

It is advisable to compare the interest rates and conditions of different banks in order to find the best loan offers. In addition to traditional banks such as savings banks and commercial banks, development banks such as KfW Bank are also an option. However, most development banks work on the house bank principle, which means that loans must be applied for through your own bank.

Preparing for the bank meeting:

A carefully prepared business plan is the basis for a successful discussion with the bank. The bank examines various factors such as the business idea, profitability planning and the company's collateral. It is important to make the business plan clear and understandable and to tailor it to the needs and requirements of the bank. In our experience, what is crucial here is to present to the bank in a fundamentally plausible way how your abstract business idea is to be implemented in concrete terms. It is about bottom-up planning of the implementation of your business project. This is particularly crucial in the financial section of the business plan.

Contents of the business plan for the bank:

In addition to a summary and a detailed description of the business idea, a business plan for the bank should also include a market and competition analysis, financial planning and a SWOT analysis. Particular attention should be paid to the numerical part of the business plan, which shows the company's financial development for the coming years.

Support from a business plan specialist:

An experienced business plan specialist can help to design the business plan in the best possible way for the bank and maximize the chances of success in obtaining a loan. Professional business plan creation ensures that all relevant information and figures are presented precisely and convincingly.