How to get a bank loan

Published by:
Netherlands Chamber of Commerce, KVK
Netherlands Chamber of Commerce, KVK

When you need extra money for your business, a common form of financing is a loan from the bank. You borrow an amount that you need and then repay it over a fixed period. You also pay a fixed or variable interest rate during this period.

What does the bank offer?

Banks offer various credits or loans, such as current accounts, business loans, or business mortgages. They also provide so-called start-up loans: a package of financial services, specially developed for starting entrepreneurs. A bank loan is cheaper than capital from risk investors.

Prepare your bank loan application

A bank loan is not just given to you. You need to prepare your application. Banks want to see a business plan containing a financing plan and a contribution of equity. Consider a contribution of at least 20% equity. The percentage is often higher for sectors that banks think carry more risk, such as catering. Try to summarise this information on 1 page.

Do not forget to make a personal presentation. You are the person who will run the business and make the plans happen. Banks want to know about your background, professionalism, and reliability. In short, do you have the right knowledge to run a business?

Can your finances be trusted?

The most important question that a bank asks is if you can pay the interest and repayments in the coming years. It also considers your financial standing. Can you pay your debts in bad times as well as good?

Successful financing applications

Review the most common financing criteria (in Dutch) before applying. Adjust your business operations beforehand if necessary. Consider alternatives if you score less on a criterion.

Consider contacting other banks. Competition is fierce and banks are eager to attract new customers. Another bank may offer a better deal than your own bank.

Get help with financing

Getting help increases your chances of financing. With the right advisor and a good financial basis, a 'yes' to your financing application is within easy reach. These advisors (in Dutch) will help you on your way.

Do you have any questions?

Contact KVK Financing Desk 0800-1014

Service and contact KVK

Or ask other entrepreneurs for advice on

Questions relating to this article?

Please contact the Netherlands Chamber of Commerce, KVK