FAQ - definitions
- I would like to get some application forms. How do I go about it?
- Do all credit organisations collaborate with the Participation Fund?
- Do all sectors come into consideration?
- A company has started less than a year ago: however, the applicant who will be running the company and who would like to apply for a Starteo has been principally self-employed for the last five years. Can he call upon the Starteo?
- How much does it cost to develop a file and to apply to the Fund for a loan ?
- How long does it take to learn of the Board’s decision?
- What is the timeframe between the decision and the first instalment of the loan?
- On what basis the money made available? Is it paid directly into my account or to the supplier?
- In the context of a Starteo/Optimeo, what does the period of the credit organisation’s additional loan have to be?
- What are the evaluation criteria?
I would like to get some application forms. How do I go about it?
For the distribution of its products, the Participation Fund has entered into partnership agreements with credit organisations, starter mentoring structures and Business Angel networks. These partners are there to help you to make your application to the Participation Fund. They have the necessary forms, they will help you to fill them in and will file your application with the Participation Fund. The first stage for you is therefore to get in touch with one of those partners.
Do all credit organisations collaborate with the Participation Fund?
De kredietinstellingen hebben een partnership afgesloten met het Participatiefonds en kunnen aldus kredietaanvragen bij onze instelling indienen.
Do all sectors come into consideration?
The European Commission’s regulation 1998/2006 of 15/12/06, on the application of Articles 87 and 88 of the EC treaty on de minimis aid does however apply to the Participation Fund. It imposes restrictions on the agriculture, transport and export sectors. We would invite you to get in touch with our Starters counter for any further information on this subject (starters@fonds.org).
The granting of a Starteo is conditioned by the Inasti registration date (less than four years in principle).
The company will apply for a loan application from the Participation Fund but if the active associate has been registered with Inasti for more than four years, he or she can no longer benefit from the Starteo. He or she can on the other hand have recourse to an Optimeo.
How much does it cost to develop a file and to apply to the Fund for a loan ?
Developing the file and making the application are both entirely free. The Participation Fund does not claim any administration expenses
How long does it take to learn of the Board’s decision?
The Participation Fund processes files in chronological order according to the introduction date of a complete file. The Fund ensures that the files are processed as quickly as possible. A Credit Committee meeting takes place each week in order to rule on the credit applications.
What is the timeframe between the decision and the first instalment of the loan?
If the customer obtains a favourable decision on his or her credit application and agrees to the accompanying terms and conditions, the credit instruments will be produced for signature. The customer then has a year to drawdown his or her credit, with effect from the date of the Board’s agreement..
On what basis the money made available? Is it paid directly into my account or to the supplier?
The basis of the payment of the credit is the investment and financing plan included in the credit application. The recipient will have to invest, in order, his or her own contribution, then any possible bank credit and finally the loan of the Participation Fund. The Fund makes the payments to the recipient directly (supplier, notary, customer him/herself,…) on the basis of supporting documents.
The period of the credit organisation’s additional loan may never be more than two years less than that of the Participation Fund. As an example, the period of a loan in addition to a 7-year Starteo will be at least 5 years.
What are the evaluation criteria?
The Participation Fund decides whether or not to granting the credit on the basis of the following criteria:
-
The project’s chances of success, at the financial, economic and technical levels alike;
-
The applicant’s business and managerial competence and his or her worthiness;
-
The company’s quality and policy;
-
The company’s viability and capitalisation;
-
The repayment capacity.