New development loan for start-ups and medium-sized businesses in NRW

The state development bank NRW.Bank has expanded its support for start-ups and small and medium-sized businesses as of January 1. The favorable interest rates and long-term nature of "NRW.BANK.Start-up and Growth" are intended to facilitate investments and succession planning.

This article is part of the special feature GründerNavi – for founders and young companies

NRW.Bank launched a new promotional loan program for startups and small and medium-sized enterprises (SMEs) on January 1, 2022. " NRW.BANK.Start-up and Growth " is designed to support SMEs and freelancers with investments and business succession. This promotional loan program succeeds the "NRW.BANK.Start-up Loan" and "NRW.BANK.SME Loan," which expired at the end of 2021. One of the new features is that part-time entrepreneurs can now also apply for the loan.

According to NRW.Bank, applicants benefit from favorable interest rates and receive a "high degree of planning security" thanks to the loan term of up to 20 years.

The subsidized loan program can be used for loan amounts of up to ten million euros and terms of five, ten, and twenty years . The financing share can be up to 100 percent of the eligible investment.

Those who wish can obtain a 50 percent liability exemption for the bank where the loan can be applied for.

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Stimulus for the economy in NRW

"With the promotional loan program, we are providing impetus for economic growth in North Rhine-Westphalia," says Gabriela Pantring, board member of the NRW.Bank"We are expanding financing options for both young and established companies in our country so they can realize their ideas."

The favorable interest rates for startups and young companies that have been active on the market for less than five years are intended to create investment incentives, for example, for investments in equipment, real estate purchases, and even financing working capital.

In addition, small and medium-sized enterprises that have been active in North Rhine-Westphalia for more than five years can use the program to pursue growth opportunities outside North Rhine-Westphalia or abroad. 

This can be financed with the loan:

• Operating resources requirements
• Acquisition and/or production of Operating and business equipment (Machinery, equipment and facilities)
• Procurement and increase of Material, goods or spare parts warehouse
• Acquisition and participation

Source: NRW.BANK

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