But how do you, as an entrepreneur, ensure that you get extra financial space? In this article, we explain why banks reject so many applications and how you can still get a loan.

Background

The MKB Financing Foundation and ONL for Entrepreneurs have various polls held among entrepreneurs. Of the 78% of respondents who have or expect to have a liquidity problem, only 12% can go to a bank. Since 2008, the credit crisis, banks have become stricter when it comes to assessing loan applications. They want to take little or no risk, which is why few small and medium-sized companies are eligible for financing.

During corona, banks have also become more reluctant to issue loans, while many small and medium-sized entrepreneurs need extra support. Fortunately, the government was able to make a good contribution to this.

Why is the bank refusing a loan?

No less than three quarters of all requests is rejected. That is not wrong. The reason seems to lie in banks' risk assessment. They have difficulty determining the impact of the crisis. “As a result, entrepreneurs are often rejected without clear motivation,” says Anne-Marie van der Lee of the Institute for Small and Medium-sized Enterprises (IMK).

Banks are therefore limiting their risks out of fear that entrepreneurs will not be able to repay the money. This makes an assessment that is negative for many entrepreneurs, based on various doomsday scenarios, such as retail uncertainties. Will the public return to the physical store? Despite the fact that the government largely guarantees the loan, banks are afraid to take these kinds of risks.

How to still get a business loan

Because of this problem, a large part of the basically healthy companies need new forms of financing. Fortunately, there are alternatives to still be able to get the necessary credit, where it is possible to take a flexible look at what is needed in the various growth and contraction phases of your company.

So: look beyond the bank. If you say 'no', you don't have to give up! That does not automatically mean that there is no future in your company.

You can come to Swishfund for attractive alternatives for short and medium term corporate financing. Think about business loans, real estate loans, business financing and Self-employed loans. Requested in 10 minutes and in your account within 3 days. How nice is that? Apply for your business loan here.

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