The examination – especially if it is carried out in connection with a development bank – can drag on for quite a while. So you should not be in too much of a hurry. In addition to the long waiting times, there are further difficulties.
Other funding
If, for example, a founder plans to take advantage of other subsidies in addition to the start-up subsidy, he or she must adhere to certain deadlines. It happens all too quickly that these cannot be met because the path from the decision "I want a subsidized loan" to the day of the transfer is longer than planned. So if you are planning additional financing, you should thoroughly inform yourself about the related deadlines and adjust your time planning accordingly, so that you can dispose of the money in time.
The location question
In addition, another problem often arises, and that is with those ventures where the location is very important. Landlords or lessors like to see financing already in place when space is leased. However, banks are only willing to grant a loan if the important question of location has already been clarified. Only in rare cases does a landlord agree to wait several months for the financing commitment – and that's where the cat bites the tail. Ways out of this dilemma are shown below. In any case, it is important to prepare your business plan early, so that you can move forward quickly.
Multiple location checks by the bank
You can initially use a specific location in the business plan, even if you know or suspect that this will change later – a draft lease agreement must also already be in place. You can then submit your business plan in this way and have it checked. A fictitious location, on the other hand, is out of the question, because the bank lacks the basis for an examination. There are often fees for the initial review of the business plan. If the location changes in the further course, your bank will also check this. It involves only the parts of your plan that affect the new location and your revised calculations. Several subsequent site inspections are also possible. Usually this can be done within a few days, the costs for this are at the discretion of your commercial bank. If there is a fee, it is usually much lower than that for the initial, full inspection. Ask your bank how high the costs would be.
Looking for rooms that are not yet ready for occupancy
You can buy yourself time by choosing a location that is not yet ready for occupancy. You can negotiate with the landlord – either he will do the renovation, or you will do it and can negotiate a rent-free start-up period in return. Whatever is agreed: If the premises first have to be brought into a usable condition, this buys you time. The landlord cannot easily put you under time pressure.
Lease agreement that is tied to financing
In this case, a lease agreement is concluded, which includes the provision that the tenancy begins after a period of one to three months. In addition, it is stipulated that the contract is not valid or can be terminated immediately if there is no financing commitment by a certain date. This means a great deal of uncertainty for the landlord, few get involved. But if you have found an attractive location, it is worth a try to ask for it.
look for premises that are not yet available
If you know roughly where your location should be, you can ask around to see if suitable space will become available there in the near future. Ask property managers, homeowners and shopkeepers about it. Also ask friends and acquaintances to keep their eyes and ears open. You may gain a few months to clarify the financing in peace and quiet.
Also trust your luck
As strange as the following advice may sound, it is meant quite seriously: Trust also in your luck that you will meet an understanding contact person at one or the other organization. In complicated cases, such as the establishment of a geriatric care service, the Trade Licensing Office is not satisfied with a possible location. But if you don't know yet which one exactly that will be, because you need a loan for the rental, but the bank requires the business registration for the loan to be granted, then you are stuck.
Then try to talk to the responsible staff of the trade office to find a solution. Sometimes a letter from a bank or a landlord is helpful, in which the respective sender holds out the prospect of his promise, as soon as another condition is fulfilled. So, for example, if a bank has examined your project on the basis of the first location and found it to be good, you should ask for written confirmation. If a landlord sees that the bank is willing to support your project, he is usually more willing to wait for the final approval.