Where can you best take out a business loan? The major banks Rabo, ING and ABN AMRO also dominate the Dutch market in corporate loans. However, a few challengers have been added who are gaining market share. DEbank, Triodos and Poley bank are the new names that more and more self-employed people are switching to.
DEbank (a reversal of the word ‘bank’) is a 100% subsidiary of insurer Aegon and is attracting more and more customers. The biggest plus points of DEbank are the low bank costs, good customer service, reasonable savings rates and the handy tools. For example, with smart alerts, people are immediately aware of certain credit and debits. Mutations can be updated directly in the accounting package. It is therefore not surprising that many freelancers and small companies opt for DEbank.
Poley is a newcomer and unknown to many Dutch people. The company got its banking license in November 2015. Banking is usually done with an app on the smartphone at Poley. A bank account is free and a bank card costs less than 10 euros. Poley also has to earn money and they do this by, among other things, charging money if you pint (4 cents) or withdraw money at a PIN machine (80 cents).
OUT and the Rabo bank are the market leaders in the Netherlands. Both banks set high requirements for taking out a business loan. SMEs and freelancers must present solid figures if they are to be eligible for a business loan. ING requires starters that forecasts in the business plan are certified by an accredited accounting firm.
You can also take out a business loan with BuzinezLoan, Funding Square, EDU Corporate Credit, Atlantis Financiers and Spotcap. These financiers all have their own method. Annual figures are not always required to apply for a business loan. There is also sometimes no BKR assessment. If you have solid sales figures and / or good collateral, this is a good starting point for a business loan.
According to research, many entrepreneurs remain loyal to their old bank because it is also their bank for private matters. There is a transfer service between the banks themselves, but entrepreneurs make far too little use of it, while they can save money with it. On the one hand, it is laziness but there is also a fear of cold water to switch over. However, the procedure of the switching service is simple. The customer downloads a transfer form, completes it and sends it by post to the new bank. A switch to another bank does mean that you will receive a new bank account number. Debtors and creditors must be notified that the bank account number has changed.