BANC gets soft loan funding of 1.118.000 € for their startups
Barcelona, on January 20th 2017. Startups can get alternative soft funding loans. These loans are granted by some institutions to encourage business development, and have certain advantages over traditional loans.
Getting a loan of these characteristic requires work and time. Therefore, some organizations offer professional services to make the necessary procedures for obtaining these kinds of loans.
One of the non-profit organizations that has generated a good successful rate when it comes to obtaining alternative financing loans is BANC, the Business Angels Network of Catalonia, which offers different services to entrepreneurs.
The entity has got an alternative financing of € 1,118,000 for 12 entrepreneurial projects. This means an average ticket of more than € 93,000 for each startup. Mainly, these loans have been granted by Enisa, by ICF (Institut Català de Finances) and microcredits.
Its consultants tell us the keys to obtaining these loans: “Analyzing the scalability and value proposition of each project is essential to getting a loan,” says Josep Franch, an expert analyst on private investment. “Projects need to be founded as a company, and they should have a minimum monthly turnover if they want to obtain a loan of these characteristics,” says Marc Vila, who is a consultant at BANC.
If startups want to obtain funding, they can use different options and different organizations, and it is important for entrepreneurs to know them. BANC’s objective is bringing value to investors and to continue helping entrepreneurs to find funding, so they hope to exceed the current success rate obtained this year.
BANC was the first Catalan and Spanish private Business Angels Network. The organization was founded by the CECOT employers union and Autoocupació foundation, with the collaboration of ICF (Institut Català de Finances). BANC belongs to the XIP (Xarxa d’Inversors Privats d’Acció), it is a member of the Spanish Association of Business Angels Networks (AEBAN) and the European Business Angels Network (EBAN). BANC is the main promoter in Spain for the Global Business Angels Network (GBAN).