The Participation Fund for entrepreneurs, the self-employed and start-ups
There is a federal credit institution for the self-employed, small entrepreneurs and start-ups who want to set up their own business or project; the Participation Fund. Practitioners of the liberal professions and job seekers may also be eligible for the services of this institution.
The Participation Fund has been providing credit to people from the aforementioned categories for years, but the emphasis has shifted somewhat in recent years. At the initiative of the government, the services were greatly expanded with administrative, financial and technical guidance.
The Black List
A ‘Black List’ for credit applicants: some have doubts about its existence, but it is indeed a reality. The CKO, the Central Office for Credits to Enterprises, is part of the National Bank of Belgium and is responsible for registering business loans granted for professional purposes. In the Netherlands, this inventory is carried out by the WSD, the Credit Registration Office.
Belgacap – The additional coverage by credit insurers
One of the consequences of the economic crisis is that lenders are massively going to sell ‘no’ to entrepreneurs. In order to accommodate entrepreneurs and credit institutions and to enable economic growth, the federal government in Belgium introduced a system of supplementary, public credit insurance. This system, which was introduced in May 2009, is called Belgacap.
Borrow online: Solution or Pitfall?
Nowadays you can borrow money for your company quickly and easily via the internet. For many companies, taking out a business loan via the internet can be very attractive, but a number of important points should not be overlooked. applies, you can take certain safety measures to limit the risks.
Be cautious when disclosing your data. You will not get away with it, but check the company you are dealing with. Check whether the address details are correct, whether the company is registered and, for example, search forums in experiences of others with the relevant organization. Do not settle for links and customer experiences on the provider’s own website, but rely on independent sources as much as possible.
Microcredit: Development Aid in the Western World
Muhammed Yunus won the Nobel Peace Prize in 2006: microcredit. He developed a business loan system for small entrepreneurs, who had no chance of gaining a foothold at large cooperatives. He and his Grameen Bank helped countless families, gave new impetus to the Nobel Prize under discussion, and now his ideas seem to bring even more good things. America and Europe have discovered its system and have found the ideal solution for the problems that have arisen as a result of the credit crisis.