GET A crEdit up to 25.000€ !

FAQ

• What could be the purpose of microcredit?

  The purchase of stock, machinery, vehicles or other equipment

  Working capital requirements and to support rental costs for the first few months

  Financing the administration costs associated with starting a business

  Meeting cash flow requirements

  Carrying out market research: test a business idea

  More information is available on our microcredits page

• Is my application likely to be accepted?

  3. Is my application likely to be accepted ?

  Your application will be presented to the credit committee. The committee will evaluate/analyze your application on the basis of the following criteria:

  • Your experience in the field / as a self-employed person
  • The feasibility of your business plan
  • Your environment and network
  • Your relationship to money and your possible debts
  • Your attitude

  The credit committees are held weekly. It is the committee members who decide whether or not to grant the credit.

• What documents do I need to collect to apply for funding?

  For a credit application, we will ask you for the following documents

  From you:

  (Copy of) Identity card

  Bank card

  The document from the National Bank's Central Individual Credit Register OR the PIN code of the identity card¹

  Personal and professional bank statements for the last 3 months

  Proof of income (depending on your situation: certificate of unemployment, warning from the roll, pay slips)

  Proof of domiciliation (invoice, an extract of the identity card)

  ​From your guarantor:

  (Copy of) identity card

  Bank card

  The document from the National Bank's Central Individual Credit Register OR the PIN code of the identity card1

  Proof of income (depending on your situation: certificate of unemployment, warning from the roll, pay slips)

  Proof of domiciliation (invoice, an extract of the identity card)

   

  We don't necessarily need a business plan. All you need is a concrete idea of the key figures of your business. However, if you have a financial plan, you can always bring it to the appointment.

  ¹ You can consult the document from the Central Credit Register on the nbb website

• Do I need a guarantor for my loan?

  At microStart, we always ask you to have someone who is responsible for 50% of the loan amount.

  The guarantor can be a family member, someone close, or a third party (e.g. the CPAS).

  If you can't find anyone to vouch for you, we can offer you an alternative option that is prior savings. In some cases, we allow a deposit equivalent to 25% of the loan amount. This amount, of which you must justify the origins, will remain blocked for the entire duration of the loan in a guarantee savings account opened with BPost. You will recover this amount, once the entire loan has been repaid.

  NB: with the committee, an application with prior savings is considered to be more risky and is therefore more likely to be rejected than an application with a guarantor.

• What should I do if I need more than 25.000€?

  microStart works in partnership with organisations that offer co-financing. In some cases, they can complement your initial financing needs. For more information, do not hesitate to contact one of our agencies.

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