FAQ - definitions
- I have doubts concerning my personal status and therefore I don’t know whether I meet the conditions for a Starter Loan. Who could help me?
- I would like to obtain the Application Forms of request. How should I proceed?
- Do all credit organisations collaborate with the Participation Fund?
- Do all sectors come into consideration?
- 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 is the money made available? Is it paid directly into my account or to the supplier?
- In the context of the Starter Loan, what is the mentoring structure’s role?
- What are the evaluation criteria?
- Can I benefit from a Starter Loan while starting my corporate activity?
The Starter Loan is intended for the unemployed on complete benefit and for jobseekers, including the beneficiaries of waiting allowances and integration income, provided that they have been registered as jobseekers for at least three months. To ascertain your status, you can contact ONEM, ORBEM or FOREM.
I would like to obtain the Application Forms of request. How should I proceed?
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?
The credit organisations involved in the investment loan sector have entered into a partnership agreement with the Participation Fund and are approved for making credit applications to our organisation..
Do all sectors come into consideration?
According to the legislation in force for the Participation Fund, all sectors are allowed.
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)..
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 for the purpose of ruling 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/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/her credit, with effect from the date of the Board’s agreement
On what basis is 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 the following order, his/her own contribution, then any possible bank credit and finally the Participation Fund’s loan. The Fund makes the payments to the recipient directly (supplier, notary, the customer him/herself,…) on the basis of supporting documents.
In the context of the Starter Loan, what is the mentoring structure’s role?
The mentoring structure fulfils two main functions:
-
It assists the applicant in the preparation of his or her file and introduces it to the Participation Fund.
-
It also ensures support for the applicant who so wishes during the first 18 months of his or her activity.
For the under thirties, it will assist them in the preparation of their projects, for a period of 3 to 6 months. After the granting of the loan and the start-up of the company, the mentoring structure continues to guide and advise the starter during the first 24 months of activity.
These services are entirely free for the applicant
What are the evaluation criteria?
The Participation Fund decides whether or not to grant 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 business’s quality and policy;
-
The company’s viability and capitalisation;
-
The repayment capacity.Het participatiefonds beslist het krediet al dan niet toe te kennen op basis van de volgende criteria :
Can I benefit from a Starter Loan while starting my corporate activity?
It is entirely possible for a Starter Loan recipient to become self-employed within a company. However, the Starter Loan is a personal loan granted to the private individual who forms/integrates the company. Furthermore, the private individual must have the majority of the shares within the company and be its managing director/manager.