The bank says no – how can I finance my business?
Själv är inte alltid bäste dräng. Det är inte säkert att egna medel räcker hela vägen när man har en företagsidé som man vill förverkliga. Banklån är för många företagare den absolut viktigaste formen av extern finansiering. Men vad gör man om banken säger nej och man fortfarande behöver en finansiär?
Planerar du att bygga ett nytt företag från grunden? Eller kanske är du i en ny fas i utvecklingen av ditt bolag? Det finns många olika anledningar till att man som företagare väljer att söka ett lån. Även om man har oturen och får nej från banken måste det inte innebära att loppet är kört. Det finns alternativ man kan titta på när man behöver ta in nya friska pengar för att kunna växa. Vi listar några av dessa alternativ här.
Statliga Almi’s mission is to contribute to growth and renewal in the business world. Through financing and advice, they want to help companies and ideas grow in Sweden. It therefore offers business loans, innovation loans, microloans and export financing. In order not to compete with banks and to compensate for a higher risk, Almi charges an interest rate that is above the average bank interest rate.
If you run a business, you have the opportunity to apply for financial support from your region or from the Swedish Growth Agency. This may include support for investments, transport and consultancy costs. As a company, you also have the opportunity to apply for risk capital and loans from various actors. Most often, you apply to your regional association or your county board. However, the Agency for Growth has the overall responsibility for regional business support.
Loan private funds to the company
As many are probably aware, it is usually not permitted to lend money from one’s own company to owners or close relatives. However, it is almost always permitted to lend money to the company if necessary. If the opportunity exists, it may be worth looking into this option. For this to happen according to all the rules of the art, there must be a real need for a loan in your company. In addition, the interest rate must be market-based.
Bring in external owners through new issues
As a company, you can also raise money in the form of issuing new shares. These are then sold to existing shareholders or to new shareholders. In the balance sheet, these end up in the company’s equity. Most commonly, the capital is added to the company through a so-called cash issue, which is a cash payment. It can also take place through the transfer of assets, it is called a non-cash issue but is more unusual. Other variants such as shareholder contributions and ”hybrid variants” between equity and loans such as convertibles may be worth a closer look.
One way that you as an entrepreneur can increase your liquidity is by selling invoices instead of collecting them yourself. Invoice purchase is also known as factoring and means that you as a company sell your unpaid invoices to a third party. It can be a bank, but usually it is a factoring or finance company. As a company, the invoiced amount, excluding a small fee, is usually paid relatively immediately to your account.
Business loans with niche players
The business loan industry has grown steadily in Sweden and today we see that small business owners are borrowing more money than ever. This is due, among other things, to the fact that the possibilities of getting a loan are significantly better today compared to just a decade ago. Actors who choose to focus on smaller businesses have entered the market and made loans for small businesses more accessible. In most cases, a personal guarantee is sufficient as security if you want to take out a loan.
Good luck growing your company!