KfW-Unternehmerkredit (Entrepreneur Loan)
(Programme numbers 037, 047)
The loan for investments and working capital at home and abroad
The KfW-Unternehmerkredit is available to persons starting a new business, self-employed professionals and commercial enterprises wanting to invest in Germany.
Self-employed professionals and German commercial enterprises may use the KfW-Unternehmerkredit for business investments abroad as well.
The working capital variant of the KfW-Unternehmerkredit can be used to finance working capital and to bridge temporary liquidity bottlenecks both in Germany and abroad.
Your advantages:
- 100% financing
- Attractive interest rates fixed for up to 10 or 20 years
- Additionally reduced interest rate for small and medium-sized enterprises (047)
- 50% liability exemption
- Repayment-free start-up period
- Prepayment at no extra charge
- May be combined with other KfW programmes and public promotional funds
Terms and conditions
Who is eligible to apply for the KfW-Unternehmerkredit ?
Start-ups in the commercial enterprise sector and the liberal professions
- Self-employed professionals
- Domestic and foreign commercial enterprises and leasing companies that are mainly privately owned. The group turnover of the associated enterprises must not exceed EUR 500 million.
For projects outside Germany:
- German commercial enterprises (maximum group turnover EUR 500 million)
- Self-employed professionals from Germany
- Foreign subsidiaries of these German enterprises
- Joint ventures with substantial German participation abroad (at least 30%)
Enterprises that meet the criteria of the EU Commission for small and medium-sized enterprises (SMEs) may apply for funds at more favourable interest rates under the SME Window.
Who is not eligible?
Companies undergoing restructuring and companies in difficulty in the meaning of the European Community guidelines on state aid for the rescue and restructuring of enterprises
What may be financed?
- Investments in Germany that require medium or long-term funding and hold prospects of sustainable economic success
- Working capital
Under the SME Window:
- Property and buildings
- Commercial construction costs
- Plant and machinery, vehicles, equipment and furnishings
- Fixtures, fittings, tools and equipment
- Immaterial investments in connection with technology transfer
- Takeover of an existing enterprise or acquisition of an active partnership by a natural person (at least 10% partnership share and executive powers)
- External consulting services which meet the one-time information needs related to the opening up of new markets or the introduction of new production methods
- Costs of initial trade fair activities
Financing share
- 100% of the investments or working capital eligible for financing
- For projects abroad, financing will be determined on the basis of the costs incurred by the German investor, for joint ventures and equity investments on the basis of the value of the overall project weighted with the percentage share of the German stake. Exception: For investments in EU countries the share of the EU joint-venture partner is also eligible for financing.
Maximum amount
EUR 10 million
Minimum amount
No minimum amount
Collateral
- Customary collateral; you negotiate the type and amount of collateral with your regular bank.
- For enterprises and self-employed professionals who have already been in business for two years, KfW offers the onlending credit institution a 50% liability exemption.
- The KfW-Unternehmerkredit can be combined with guarantees from a guarantee bank without liability exemption. Under "Further links" you will find a comparison of the terms and conditions of the KfW-Unternehmerkredit (including guarantee) and the KfW Special Programme 2009.
- To guard against political risks in investments abroad a guarantee by the Federal Government for capital investments abroad can be applied for with PwC Deutsche Revision, New-York-Ring 13, 22297 Hamburg, Tel: +49-40 63 78-0. If the ultimate borrower is granted a guarantee by the Federal Government, the guarantee claims should be assigned to the onlending credit institution as additional security.
- No liability exemption is granted for: new business start-up projects (incl. company takeovers and active partnerships), bullet loans and working capital loans
Combination with other programmes
May be combined with other KfW programmes and public promotional
funds
Loans with liability exemption cannot be combined.
Overview of the KfW-Unternehmerkredit Programme terms and conditions
|
Term/repayment-free start-up years |
|
|---|---|
| Interest rate |
Risk-adjusted interest rates are offered under this programme. The borrower's credit rating and the quality of the collateral are reflected in 7 price categories. The loan is granted at a customer-specific interest rate up to the maximum interest rate of the respective price category. In a separate section we have compiled detailed information on the topic of the Risk-adjusted Interest Rate System. Fixed interest rate:
Interest is calculated quarterly in arrears for the respective loan amount thus far requested for disbursement. |
| Commitment fee | 0.25% per month for the loan amount committed but not yet disbursed, beginning 2 banking days and one month after the commitment date |
| Disbursement | 96% |
| Repayment | After the end of the repayment-free start-up years in equal quarterly instalments, bullet loans are repaid in one sum at the end of the loan term. |
| Prepayment | Prepayment of the loan amount in full or in part is possible during the first fixed-interest period at no extra charge. |
Further Information
- Current interest rates and terms (only in German)
