Good news for aspiring entrepreneurs as the ERP Start-up Loan - StartGeld has expanded its eligibility criteria since January 1, allowing more new business owners to apply. The program now includes start-ups that are managed on a part-time basis without the requirement of transitioning into full-time operations.
The ERP Start-up Loan - StartGeld offers low-interest loans to entrepreneurs, self-employed professionals, and young companies within five years of starting their business. Both small commercial enterprises aiming for profit and small non-profit organizations serving the common good can benefit from this initiative. Companies operating either full-time or part-time qualify for the funding.
Eligible applicants may request a loan of up to EUR 125,000 through their regular bank. A significant feature of this program is that KfW assumes 80% of the customer credit risk on behalf of the bank. The funding covers investments and operational costs.
KfW's expansion supports the growing trend towards part-time start-ups, which increased by 11% in 2023 compared to the previous year, according to the KfW Entrepreneurship Monitor.