Whether through creating a business or taking over a business, a young entrepreneur will necessarily need the financial means to make his project a reality. Discover the different conditions for access to professional credit.
Creation / takeover and young entrepreneur profile
There is no age to undertake and it can even be done right out of school. The entry into working life is not necessarily acted by an employee contract, a young graduate can become an entrepreneur and create his own activity. Simply, there are several steps to properly validate a business creation project, the first is naturally to work on the business plan. It is quite simply the specifications which will make it possible to define the activity, its environment, its projections, its cartoons, its estimated sales, that is to say all the data that can validate or not the viability of the business.
This type of document is not necessarily necessary in the context of a resumption of activity, a young entrepreneur can acquire a business in the context of a sale, there is all the history of past years which allows you to gauge the viability of the activity. In both cases, funding will very often be necessary to launch or resume an activity. The bank can be a real lever for development, but the latter will be looking at the young entrepreneur’s ability to repay the debt, depending on the activity that will be created or taken over.
Getting credit when you’re a young entrepreneur
The age of the entrepreneur is absolutely not a condition of access to professional credit, it is above all the project and the guarantees provided which will allow the bank to validate or not the professional financing. And this is precisely an excellent way to test the viability of its project, when a bank is ready to follow the entrepreneur, it is that the chances of success of its project are generally higher than the others. It is therefore an approach that must be operated logically by the young entrepreneur. Note that it will be necessary to create a professional bank account (except for micro-business activities), and banks are systematically looking for new customers, one more reason to turn to these establishments to request a credit.
Guarantees are systematic for business creation or takeover projects, this requires a personal contribution to complete the main financing, the bank thus reduces the risk and is reassured by the young entrepreneur’s desire to pay personal money. To this will be added a guarantee by personal surety, that is to say that a surety company comes to stand surety in case of non-reimbursement, for a fee on the guaranteed amount.