The Best Business Loans in Belgium in Just One More Click
Compare the best options on the market and choose the one which best adapts to your day-to-day needs.
Further Below: Our Guide To Business Loans in Belgium, Everything you need to know.
Our Rating: 9.1/10
Read Review
Cetelem
Our Rating: 9.5/10
Read Review
DHB Bank
Our Rating: 8.9/10
Read Review
ING Belgium
Hang tight to know everything about financing your business in Belgium. We provide all the necessary information including key factors to consider before hiring a business credit, the best offers at the moment, and how to pick one that’s best compatible with your financial needs.
Scroll down!
Right at the onset of the coronavirus pandemic, the Belgian government stepped in to offer protection for businesses and companies from the harsh economic effects of the same. The government came out to give grants, provide new guidelines regarding the provision of grants and loans, and make the loans more available so that even the smallest of businesses could survive.
The government went as far as reducing and suspending tax repayments, which would, otherwise, pressurize small businesses during the hard economic times.
All holders of authorizations had a chance to have their authorizations extended, under the observance of particular conditions. In that way, the holders received exporter authorization without customs auditions.
There are different business loans curated for different types of business profiles. Each type of loan is unique in terms of the financing conditions it offers. Likewise, the business receiving the finance will be required to have particular characteristics to qualify for a certain loan type.
Let’s have a look at the different forms of businesses:
Characteristics of business loans vary with the type of company profile and type of credit we sign up for. However, our negotiation skills will come into play when we’re looking for the best financing available.
So, what are the characteristics to look out for in any business loan?
The advancement of technology has allowed the creation of various types of non-bank lenders that design different financial products. Hence, borrowers are spoilt for choice and can get financing that best addresses their needs. Below are the currently available options we can consult when in need of financing:
Be sure to conduct a thorough financial audit before setting out for a particular loan.
Business loan conditions
After finding out that you need a loan and choosing the lender of your preference, the next step will be to determine whether you are ready to work with the lender’s set conditions. Below are the conditions you’ll find for business loans in Belgium:
Entities set different requirements for the above conditions. For instance, they may set different amounts of annual income.
Entities will require several documents that show the financial status of the company.
Some of them include:
The entity may require you to send the documents online, via mail, through a courier, or physically drop them at the entity’s office.
Business lines of credit offer us a certain amount of money and allow us to reserve it and take it out in bits as needs arise. This type of financing requires us to repay the principal amount we’ve taken out so far and its interests. This is different from loans that require us to repay the whole amount we took out.
This mostly suits the self-employed and SMEs where the lender comes in to pay our invoices and clear with the suppliers. We’ll be left paying back the amount used to pay for the invoices and the interests charged. Our terms of payment and conditions depend on the entity.
Through crowdlending platforms, a borrower is connected to a private investor who chooses whether to finance our business or not. There are multiple crowdlending platforms in Belgium and the services we get depend on the platform we use. The company offering the loan will set the conditions of their products and the amount of loan we get.
This is designed for suppliers who are seeking liquidity for their business. Through the loan, the supplier can collect orders before making deliveries to have liquidity then he will return the money that the lending institution advanced to him after making the deliveries.
These are loans only granted for businesses that can provide a property that we can use as a guarantee of payment. These loans may have longer analysis and concessions than other loan types because of the appraisal process involved.
The advancement of technology has brought about these online platforms through which private investors and professionals can invest in our project. Our company doesn’t go into any debt since the investors get a share of the business as compensation. Moreover, they get to share in the business’s profits.
Business angels are similar to equity crowdfunding. However, for business angels, the company decides on whether to invest in our company or not, instead of the private investor deciding as an individual.
As you make this decision, bear in mind that the investor will share in the ownership of the company. Business angels offer financing for big business projects.
The 3 F’s, Friends, Family, and Fools offer financing for our business. The conditions of each type of financing are set by the lenders.
This involves the collection of all the unemployment benefits we are eligible for. Financing is only provided for the self-employed who wish to start up a business.
The government provides multiple subsidies. Use the following links for more information:
What this page is for: we’re out to help you get the most compatible financial product to your needs and peculiarities. Hence, we marshal all the necessary information about consumer credits including the best offers in the market, how to compare them and end up with the best offer.
Source: the information regarding consumer credits in Belgium and how they are regulated is drawn from the Financial Services and Markets Authority, and the National Bank of Belgium.
Methodology: The data relating to the conditions of these products (amount, term, interest, etc.) have been obtained through online research and consultation of the official statistics of the aforementioned reference sources.
About FUNDGECKO: we are an online comparator website that helps users with little knowledge about financing. We equip the user with the most recent and reliable information regarding consumer credits, how best they can compare them, and end up with the most suitable option.
Note: the services we offer are totally free for the user, as FUNDGECKO obtains its income from advertising and its featured products.