The Intrasavings changes its offers for start-ups and young entrepreneurs as of April 1st. The maximum financing amounts have been raised, but the guarantee for the house bank remains.
The interest rates were partially lowered and the modalities for fixed interest and special payments changed.
Instead of the earlier programs “Intrasavings Entry Fee” and “Intrasavings Entrepreneur Loan”, there are now the loan programs “Intrasavings loan Entry Fee” and “Intrasavings loan – universell”. With the new entry fee a maximum of 100,000 instead of the previously valid 50,000 euro credit are possible. For equipment now a maximum of 30,000 (previously: 20,000) euro credit can be claimed.
The loan is available to start-ups, freelancers and small businesses that have not been active in the market for more than three years. Self-employment will also continue to be financed as a sideline, provided that these work in the medium term in a main job. Own funds are not required The investment projects can be fully financed with the Intrasavings loan.
Type and collateral are arranged with the house bank, which passes the credit. You must also submit business plan etc. Intrasavings grants the house bank a liability exemption of 80 percent, which significantly increases the chances of a loan commitment. The term may be unchanged at 5 or 10 years, whereby one or two grace years are available.
The interest rate applies to all borrowers and is fixed over the entire term.
At 5 years, the effective interest rate is 5.54 percent and at 10 years 5.64 percent. An unscheduled repayment is still possible. Unlike the earlier Intrasavings entry fee but precipitates a loan.
The “Intrasavings Gründungskredit – universell” is suitable for larger projects up to a credit volume of 10 million euros. It also finances acquisitions and joint ventures. What is new is that the loan is paid out to 100 percent. Previously he was handed out with a Damnum of 4 percent.
Abolished were the variant of the loan with final repayment, which was previously possible under certain conditions. Loans for investment can now be redeemed for 5, 10 or 20 years, with one, two or three redemption-free start-up years being possible. A period of 20 years is only possible if two thirds of the loan is spent on land purchase, company building costs or companies or participations.
Loans for operating resources run for a maximum of 5 years. The interest rate is fixed for a maximum of 10 years. In the case of loans with a longer maturity, there is no longer the possibility of a fixed interest rate until maturity, unlike in the past. The level of the interest rate depends not only on the maturity but also on the credit rating. Intrasavings’s risk-adjusted interest rate system classifies companies into 9 classes. The range of possible effective interest rates ranges from 3.66 to 8.79 percent. Thus Intrasavings lowered interest rates: In March, the spread ranged from 4.2 to 9.9 percent.