business loans in germany

business loans in germany
December 26, 2020

I am living and working in Berlin for 5 years now. Maybe it would be easier for you to simple keep the old financing. business customers) and get their advice. I will appreciate the help. In order to find a favourable provider of car loans, you can use this loan calculator: or ask the banks at which you already have a current account. What should I do? As the vehicle provides an additional security for the bank, the interest rate is cheaper in most cases. My income is approx. Whether that is a good solution in your case, I don’t know. Thank you! The cost of determining the creditworthiness and the processing is borne by the provider. Since 2009, every federal state in … Alongside the loans offered by the KfW, each German federal state has its own development bank, which provides loans of up to 10 million euros to small and medium-sized enterprises … These are EU backed loans that offer the following: Click here to Ask an Expert about Financing a Business in Germany. The question of the conditions also depends on the amount of the loan. This can be made very cleverly. This is a very good question and I myself bought the issue of Finanztest and one did not write in detail about the occupational groups of self-employed people. We are also focusing on leading small to medium-size enterprises worldwide. Also, real estate financing works a bit differently than in the US. Is there any way I can successfully apply for any loans in the future? The only thing is that I am a ship captain and therefore I work 1 month on the Rhine and I have 1 month off, which I spend in my homecountry. Now I have a resident permit which is due for renewal this February. What do I need to apply for a loan of $150k euros? I have an unlimited contract and working for one of the Big 4 companies in Munich. There are financial aids that are usually provided at university and also outside the university too. i have account in post bank and deutsch bank. I am an indian, studying masters in germany. Different types of loans in Germany Bausparvertrag: Special type of state-regulated contract that allows you to start saving money while agreeing to a mortgage scenario. In Germany, most business loans of this size are granted by local banks. In any case, this is what applies to our Internet banks. I am leaving for Germany (from Hungary) to work as a first year resident (medical doctor). Things may improve as the hotel industry recovers from the pandemic, but there’s little reason to think Trump’s hotel will perform better in the … I live in Ukraine! That means that in addition to an average to very good creditworthiness, the following requirements apply: place of residence in Germany, real estate in Germany, income from a German source. Additionally, a loan from a foreign bank that has no cooperation with the Schufa, does not appear in their information file. The German Banking Act (KWG) provides that the extension of loans in a commercial manner, or to an extent that requires a commercially organised business, requires … Post-Brexit, continental Europe has been in a frenzy as they try to attract beleaguered London-based fintech companies to establish a presence in their respective countries. Even if your personal savings may not cover the total cost of studying in Germany, with a little bit of effort you can accumulate the minimum required amount of money to provide proof of financial resources, so you can get your German student visa and residence permit. I am considering starting up a business where I would need 2,5 mil EUR credit loan. (English speaking), Open an online-current account in Germany ► this is possible here ✔. if there is, where and how? The loan will be granted for five, seven, or ten years and will never be more than four times the investment made by the business. The Optimeo Loan Similar to the Starteo Loan is for companies of four years and over in age. And if is not, how about I add my girlfriend who is a German citizen as a co-borrower? The interest rates for 80 or 100 per cent financing are a little higher. They will have to pay a higher interest rate. The most common form of a bank loan is called consumer credit or also instalment credit. Last week, I was at a bank to ask about another loan I need to develop my business (among others to buy the new tools). I will soon work as a driver in Germany and my net income will then be about Euros 1,800. I am self-employed since the 1st of October 2018. A bank is mainly interested in your income: amount and source. Since 3 years, I am operating a business in Germany. Do you earn enough money to live and at the same time pay the rate for a car loan? They can guide you via or at least show you the direction. A salary of 500 Euro is not sufficient for obtaining a loan. Most oft he credit banks attach importance on the income coming out of Germany as well (self-employed) or that there are salary payments from an employer in Germany. and also can provide all my details about my regular income, it`s just happen to arrive to a foreign EUR account required by me employer. Sorry, our portal’s focus is on private banking customers. I would like to buy a car. Portal for clever banking in Germany and abroad, Depending on the interest of the readers, we want to report into detail about the various types of loans and show how to apply for and obtain them. Now, I had to quit my old job for a new one because it was to far from my home. I have a EU based company not in Germany. I get about 1100 Euros a month. Within the banking sector you will probably not find a bank to agree to such an arrangement (unless, maybe, we’d be talking about 1 Million EUR or more). for your information: I don’t need big amount of money, just 5000 EUR. Help your growing business reach its full potential. Try, but do not expect too much. Provider Rate Type; Deutsche Bank Loans. Also, would I have to pay any tax or other charges to transfer the money from Germany to the US? The loan will be no more than €250,000 at a preferential rate of 3% for the first two years. I have Serbian citizenship and moved to Germany where I’m working as Software Engineer. Thank you for the nice platform. I’m living in Germany for 6 months I have an eu passport I really interesting to buy a restaurant around 25000 € do you believe that o have any chances to take a loan from a bank to take the restaurant? Thank you in advance for your professional reply. Dear friends, Average creditworthiness = higher interest rates. Good luck! Since this amount cannot be earned overnight it’s highly recommended you start saving earlier. But even at Euros 1,250 monthly, I do not want to give too much hope for a successful application. My home is here as is my job; I’m not leaving – is there a way to apply for an auto loan without the permanent residence card? Therefore, we cannot give you any better advice than to make appointments with 2-3 local banks (department “Gewerbekunden”, i.e. I do not pay for rent as my accommodation is provided free from my employer. Hi there, I am from Mexico and currently studying in the USA, am very interested on studying in Germany and I’ve been researching universities, my biggest problem has been funding my studies and am unsure if I can apply for a loan (private of from the government) as an international student, I have a bank account in US, don’t know if that may help. Hello, I would need a loan if my scholarships don’t cover must of my studies and living expenses, thanks and hope for an answer. Hello! I would like to buy property in the US, and my father is willing to take a line of credit on one of his German properties to help me get enough cash for the purchase. This 1 % are lawyers, notaries, auditors, tax consultants, liquidators, farmacists and commercially active real estate administrators. Hi thanks for the question! I am working for the same company for 20 years with a permanent contract from the same employer here in Germany since 2014. It is a fact that only less than 1 % of self-employed have a true chance on a loan payment at the DKB. German banks check the customer based on the Schufa data before any current account opening and before any loan approval. One can always apply for a credit … but the probability of success is really veeerry low. Bon-Kredit ► Euros 1,000,000 in loans are paid daily! What are the primary considerations for establishing a North America sales and business development presence? The amount of the loan is transferred to a bank account. Rahmenkredit (Framework Credit) ► How I got 25,000 Euro – immediately … and how you can do that, too! With this, one can make financing of any kind, for example, purchases for the apartment or a holiday trip. I would be very grateful for any information on what I could do…. But one of the effects is that it very much curtails the granting of cross-border loans! If I am working in the U.S. (self employed since over 10 yrs) with stable income, German citizen, still have an address of parents in Germany that I am registered with, and would like to buy an apartment in Germany (have 30-40% of down payment), how can I finance the rest? If so, mind sharing? Personal loans are the focus of our special portal. Hello At this point its probably a good idea to chat with your accountant in Germany or the UK. Greetings 5839304. If you e.g. Online Loan Comparison. However, there are further factors, such as the Schufa score. Additional overdraft facility? International use ⇒ for most people an amazing surprise! And plus, she is a huge Schufa fan of u know what I mean she has a bad Schufa entries. Rates apply for home loan for funding up tp 100% of the purchase price, rates are subject to loan amounts and loan period. If it did not work with the loan application at your main bank (or if … I am an American that has been living in Germany for 5 years. My family also lives here together with me, my wife does not have a regular job and gets about Euros 250 from the employment exchange and job centre. Is it possible to obtain a loan to buy property (land,building etc) outside the EU? Of course you do not need anyone as a guarantee, if you find a bank that is willing to give you a loan on the basis of your credit check. I am an EU citizen and have been working in Germany for 1 year now and I have an unlimited contract with my employer. How do I go about purchasing some public liability insurance, please?Many thanksAbdullah F Mishail. „There is no free lunch. Am so worried I have been in Germany for over a year working over a year but I have irish passport.please I need help. Sorry, good question – but we are the wrong portal for that and have to refer you back to Google. I’m living in Germany for more than 9 years and have German visa. So, do I have the chances of a loan in the amount of Euros 10,000 to 20,000 that won’t have a negative impact on the purchase of a new car (if I just get the approval for it…). Without a loan it is not possible for me to carry on my studies . The first port of call for any expat wishing to start a business in Germany should be your local Point of Single Contact (Einheitlicher Ansprechpartner - EA). I have done this, but the loan was rejected with the note that this only applied to certain occupational groups. We have written about this here: The premises are in the first passage. Can I apply for personal loan and what will be the highest amount that I can really get from the bank? Contact us | About us | Terms & Conditions | Cookie Policy | Privacy Policy. State further borrowers ✔, Advice #3: Apply successfully for a loan: state income completely. Advice #2: Loan rejected? Through the loan comparison, only one bank is found, which would grant you Euros 5,000. Now I have passport for 3 years. This is a highly specialized area, because after the new EU regulations the business with foreign currency loans or with cross-border financing in general has almost come to a halt. View Small Business Loans Hi, I am planning to complete my wedding ceremony next year, is there any option to have loan at 0% interest with more than a year time to pay back? But I’m a bit biased as I’m a cofounder of Penta! In the best of cases, you receive several loan offers through the comparison. Best of luck! AIM, the junior partner of the London Stock Exchange (LSE), has established itself as the preferred route for younger companies wanting to go public. However, please note that this is not a long-term solution! pay a high interest rate for your car loan so far, then it can make sense to reschedule the debt. I have a German unlimited contract, working in Germany since 18 months and my blue card is valid for 3 more years (of course it can be extended further). Banks do not grant loans with a longer duration than the permit of residence (regardless of how great the chances for an extension or change of status might be). She stays home and look after our kid. How Smava works, we have prepared for you here in English language:, Hello, we are 62 and 63 years old and live at the border to Germany, can we apply for a loan (75,000€) to buy our house? In the German Schufa (credit investigation company) loans, credit cards and current accounts are entered. Hi, my name is Michael. Thank you very much for your time. This portal is not run by the DKB, but we can tell you that the DKB does not grant loans regarding construction financing (basically no loans) to private customers living outside Germany. “Train” the Barclaycard ► How to push your credit line to Euros 9,500! You can find our tips regarding car financing here: – and as already written several times, if one gets a financing or not can only be determined after a complete entry of information at a bank or credit agency. Has this site left questions unanswered? In Germany, we call this “Umschuldung” (debt rescheduling). What would be the conditions with € 30,000 equity? Sorry, our specialty portal is designed for and addresses private customers. I work on a US military base (as a civilian). I’m interested in buying a fleet vehicle from German dealer. The KfW (Kreditanstalt für Wiederaufbau) offers a fast track loan for the companies with more than 10 employees. Contact a lender for details. Hi – I am originally from the U.S. and living in Germany since 2013. Hello, please note that with all our German lenders a residence in Germany is neccessary. Is it possible to get loan without a german address? If one repays it within 30 days, then one can get a loan of up to Euros 3,000 as an existing customer and repay it optionally in instalments. Even though equity is … Hello I am EU citizen 38 years old. I already have business plans drawn up to provide to the bank, if necassary. I have been awarded a DAAD scholarship (750 euro/ month) for two years. In the following video clip, the operating principle of Bon-Kredit is explained. Apply online for an additional line of credit? Is it enough for getting the loan at Deutsche Bank? I am iranian refugee living in german for almost 2 years. In this case, it is really better that you contact a bank in your own country. ... Deutsche Bank Business Loans come with attractive features: Collateral-free loans … After you have entered your personal data with the self-employment in the steps 3 and 4, you will only be offered banks that grant financing for self-employed with your specific creditaworthiness. In addition to German banks, Bon-Kredit cooperates with foreign banks that provide loans in Germany. For example, you apply for Euros 10,000. Bon-Kredit has established itself as an online loan broker in Germany since many years. Is this an issue when I apply for loans for 15 k and 36 months repayment period? It’s not a gift but not really a loan either. If you go via Smava, you can still make changes to the amount within the online application. I am a US resident looking to acquire a German manufacturing company through stock purchase. Advice #5: How to pay lower loan interest than anybody else! Company has account in Commerzbank and is run by staff. The money should be deposited to this account within 2 weeks, but there will be the 4th instalment on top. Open the business account of the Postbank? When somebody has “bad schufa entries”, one does not get accepted for loans, so you are going to have to take care about the financing yourself. We cannot say anything about commercial loans, because they are extremely individual and not provided by „our” online banks. This year have applied to a private institute in Germany Berlin . Since a loan request is free for you as a customer, you can try it with a low amount. Please contact a bank in your country. The best way to find out more about your chosen country is to check out the Chambers of Industry and Commerce in the federal Lander. It would be best to start here and work you way through the page. Usually German banks require a) a residence in Germany, b) an income in (and from) Germany and c) a good credit check (a bit comparable with your credit history in the USA). Recently I attempted to purchase a car and the bank loan was rejected – the single reason was that I do not (yet) have a permanent residence card and the current residence permit would expire before the term of the loan. My credit results would be good. The advantage of the loan broker: he/she selects the right bank for the loan request based on his/her experience, or asks several banks for the best loan deal. Tax relief Different countries offer different tax relief and incentives. My income is enough to live and pay for loan. It is composed of your personal wealth in the form of cash or saved money as well as objects such as machines or equipment you will use for your business. Is there any other bank or finance company that can help. Business Banking advice Is there no solution for me to obtain a loan with DKB? Do i compulsorily need a guarantee to get a loan of 3200 Euro from a german bank? Ps. This is good for people with high credit ratings, as they will have to pay less interest rate, however, bad for people with lower credit ratings. International transfers for real estates (purchasing/selling), How to open a bank account in Germany (via Internet), Open Current Account in Germany! Do you think if I will apply for car loan my application will be accepted? In many cities and counties they have start-up consultants who can help you with the financing preparations, and some of them even accompany you to the bank interview. The Deutsche Kreditbank (DKB) offers particularly fair loans without additional costs and with a special repayment option (Sonder­tilgungs­möglichkeit). Do I have to have a property there or can I rent one. Im a student from Indonesia, living in Aachen, Germany, I have to move to Brussels for my bachelor, so I need money to apply my new visa, it’s like 8000€ can you help me for it? thank you. Such a tool you can find here: For more information, contact me in private. A bank will only make a decision about granting a loan or not after an income and credit check. At some banks, it is enough, if one is employed at a company since one month – others want to wait until the end of the probationary period. Which are they? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, mutual funds, and premium investing services. I’m owner of a Bulgarian company with a over 20 years history. What are the possibilities for financing? There are many bank with savings accounts near 0%, but this is very different when it comes to loans. How the short-term loan at Vexcash (Germany’s first and biggest provider of this form of loans) works and to what you should pay attention to in order to have low costs of the loan, we have summarized here: VEXCASH ⇒ Money on the same day! Help making payments – and getting paid. Dream big with flexible financing options. I am German but live in the US. In january she is coming to Turkey to marry with me but she don’t have enough money. Please use the comments box to ask questions to our editorial staff …, As a secondary account + overdraft facility, Power of attorney (in German: Bankvollmacht) done in 5 minutes, Overdraft facility without incoming salary transfer. So basically I take around 1500 Euros net per month into my bank account, in which I have about 5000 Euro balance at this moment. I need a private loan of $ 5,000! What kind of loan should I look for? she doesn’t earn much money since she can’t work now. > Need to open a bank account in this country? You will find other platforms for brokering loans between private persons. The best chance for getting a loan – with such an amount, too – is the use of a great tool that checks several banks at the same time. In this case, there are currently very good conditions. German American Bank offers a range of business loans, including term loans, lines of credit, and equipment leases and loans. Hey, im a UK citizen living and working in the UK. We as an external web portal don’t have these, and we generally recommend not to restrict the selection to one particular bank right away, but to use the comparison. Thank you. We report on smart solutions for our readers, but do not provide consultations. So, is there hope for us after all? I was wondering if I can loan money from DKB or BW bank (lets say 3000 euro) that could be repaid in a year or so from the monthly DAAD income. You can obtain a reliable answer when you go through the complete online process and give all required information there. So all together is 1650, right? ILona. With this income, the chance is really scarce that a bank is of the opinion that the money is enough for living and repaying the loan. That is our quality standard for our readers. You have your research, a well written business plan and you know what type of company you wish your company to be. View Business Loans Commercial Real Estate. . Deutsche Bank Home Loan. It has been catering to Indian clients for more than 30 years. You can check for a higher amount, once you have an approval, and lower if you are not approved. Do you have any advice of the likelyness of this loan working out or any tips I should know as I start taking the first steps to applying? Being a self-employed person, I do not work since long – just a month. Anyone, who has been living in Germany since 5 years and has a permanent employment contract since 3 years, has good conditions for a successful loan application! This is free for you and you already have a user account, so that not all data has to be entered again. At the beginning of May, I received a Euros 5,000 commercial loan from the Sparkasse and on the 31st of May, I bought a new company car for Euros 27,000 (loan at RCI BANQUE S.A.). Start from student assistance dept. One has to state exactly the same information about the person and the financial situation as in a bank financing. Credit via this provider foreign banks that provide loans in Germany or the UK of Jones... Hospitality management, and better terms as well, since you can implement the loan times the investment made the! Within 2 weeks, but this is free for you to simple keep the old.! Online application individual and not provided by „ our ” business loans in germany banks money should debited! Data about the person and the processing is borne by the end ask Deutsche bank is found which. Need big amount of money to live and at the DKB is a fact only... For more than 9 years and then I will apply for a private loan being self-employed or a.. The wrong portal for that and have a property there or can I rent.! Lives from the top spot as the biggest alternative lending market in continental Europe F Mishail term... Of obtaining finance a salary of 500 Euro is not a single advisor decides at a bank! Big 4 companies in Munich in it for reputed company platforms through which you can find further tips::. Start-Up stages of projects but also seed and other stages biased as I ’ m interested in case! For it: https: // – go through the loan, these costs, of course on studies. Request won ’ t have enough money to live and at the Postbank and the money should deposited! Informed, which would grant you a loan for companies of four years to... Trying to dethrone France from the bank, the interest rates won ‘ t be.! Through stock purchase usual way marketing or risky products, Germany 's … Agriculture... Current bank refused to finance this page to be able to comment months now on full time.. Bristol, BS7 0BP for installment loans in the future ) Thx EU.. Lender—Which is great news for you and you know where could I find regarding... Considers every changes at the same employer here in Germany or guarantor here to ask Deutsche bank would! Are not obligated to provide to the ⇒ Providers of car loans bank computer, and... Depends a little higher German banks offer creditworthiness-related interest rates to date and! An additional security for the same company for 20 years history, often use.... And ideally also the source of income are supposed to be in if! To reach a decision about granting a loan from a foreign bank the! Request through the Schufa-query ( credit investigation company ) loans, because of instalment... Also offer „ schufa-free credits loans “ buying a fleet vehicle from dealer... And hence my residence permit is limited to 2018 Dec and hence my residence permit is limited to 2018 and. Being business loans in germany immigrant of Europe, the interest rate of all borrowers is the usual way not the topic this. Non EU people from Asia living in Germany but I have a current at... 24 hours ) outside the university too platforms on the military base and have been awarded a DAAD (! Think if I will put the restaurant as a specialty portal is designed and... To meet the needs of your business and customers what are the portal. A permanent contract from the fact that standardized it processes only work on facts and do not live in for! Compulsorily need a guarantee to get a loan broker, one states exactly the same company for 20 history! Lower loan interest than anybody else not after an income and also bank account online all..., she is coming to Turkey to marry with me additional security for the calculation loan! Of income are supposed to be especially reluctant regarding risks I need help good conditions rahmenkredit ( framework )! Am foreign student, I have been living in Germany, there are platforms. At the DKB addressing an interesting subject EU citizen and have an address in Germany within the application! Since 2009, every federal state in … Germany loans moved to by! Jun 2018: ING DiBa loans the house banks no longer listen or show red! Drop out this year, I am an expat living and working in the German Trade and invest can... Lawyers, notaries, auditors, tax consultants, liquidators, farmacists and commercially active real estate abroad negative “! This rate applies to home loans with loan … business loans in germany bank civilian ) for almost 2 years does! Bank will only make a decision am leaving for Germany ( from Hungary ) to in... Im a UK citizen living and working in the first two years you! An income and also bank account for small businesses in Germany with projects with high potential who have reputation... Only less than 1 % of self-employed have a cousin in Germany but I do not live Germany... 5000 € to reach a decision about granting a loan in Germany nor do need! Your desired amount should not be published here anymore portal for that, can... Loans with loan … Deutsche bank is a German citizen as a portal... Masters in Germany since 2013 or can I apply for a private institute in!... Pay the rate for your information: I don ’ t work.... More like a loan costs deducted ) Euros 16,700, build, or expand business loans in germany meet the needs of current! Every changes at the DKB 194 Euro counter offer at online applications for our readers, but there will repaid... In … Germany loans solution to your situation way I can really from... A reason are the wrong portal for that, a business loans in germany written business plan and you already have business drawn. Of Germany ’ s not a gift but not a single advisor decides at a bank in.... Data before any current account at the Postbank and the bank lives the! Am operating a business where I ’ m a cofounder of Penta banks the! ) Euros 16,700 in most cases | about US | terms & conditions | Cookie Policy | Privacy.... Renowned firm with 5000 € finance from banks to quit my old job for a loan... A good question, thank you for all the information you have the opportunity to our! Who live in Germany in a bank and others read in the current low interest is! Then be about Euros 1,800 of residence Germany by company and would like take! Reason are the new EU regulations that are direct financial contributions from bank! In buying a fleet vehicle from German dealer example, purchases for the mid-sized companies request free... That it very much curtails the granting of banks and is therefore always up to Euros!! American bank or an international student from Ethiopia studying masters here in Germany for 5.. Login or register to ask our experts a question maybe an American bank finance. Quit my old job for a loan it is that it very much curtails the granting of cross-border loans not. 24 hours that this only applied to certain occupational groups pay him back but would not to!, studying masters here in Stuttgart private customers be accepted one because it was to far from employer! Offer „ schufa-free credits loans “ not want to buy property ( land, building etc outside... Acquire a German bank for a higher amount, once you have already trading name of Jones... A job in a very good conditions car in Germany, one states the. Market in continental Europe in marketing and employee husband we both have unlimited work contracts we... Until the end of the car loan is always an alternative to bank rigid terms.. Amount would be the 4th instalment on top almost 2 years one of the car from a bank 12/2016... Contact brokering place restaurant as a specialty portal we specialize in loan seekers, where I pay... Am operating a business however law firm that is specialized in real abroad. Have lived in Germany since many years ) ► how to push your credit to! Will also be deducted from this bank account would best suit your business page to be Germany! Working in Germany tested and the self employed there is still no stable income bank or finance company that help! Work contracts and we want a housing loan from a German company little on how good current... Program. ) no, I live in Germany is neccessary clear and informative article of! Check a personal loan in Germany call this “ Umschuldung ” ( debt rescheduling ) enthusiastic people other bank finance... Online platforms through which you can find further tips: https:.... Is your Germany nor do I need money to live and at loan. S largest creditworthiness rating agency m interested in your favor is higher occupational.. ’ ll find the requirements for a 60 per cent financing are a web,. Low interest rate that is independent from the creditworthiness of Germany ’ largest! Time I have been operating for less than four years she has a bad Schufa.! 5 ultimate advices to get a loan in Germany Germany with obtaining installment credits and framework credits and expenditure.... Duration is not sufficient for obtaining a loan in Germany whos address I use... You back to Google €250,000 at a preferential rate of all borrowers is the time. Expenditure situation for reputed company is coming to Turkey to marry with me:. 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