Deano’s answer to: “I am a Dutch student. I want to start an internet business. How hard is it for me to get a loan from the bank to start it?”

You'd need to supply more details about the bank – You're Dutch, but your bank need not be.

Add to that what others have mentioned in the answers/answer comments: a bank is a really bad source of funding for an early stage startup… At least in terms of a cash loan. Some banks do venture investing on their own, which would definitely change the answer a bit.

If you're just after cash, however, you'd do MUCH better working on your social and pitching skills, and pursuing local/European angel investors with your idea, preferably with a somewhat-working prototype in hand, or at least a very convincing powerpoint and eyes filled with lightning. For a primer on this, I highly recommend reading "The Game" – startup founders and pickup artists are basically one and the same, at least when in pitch/recruit mode. 😉

Alternately, joining an incubator program that injects cash in exchange for startup equity might be the right path for you. Instant access to mentors, as well as program admins who genuinely want to succeed because they own a piece of you.

Aside from incubators, there are also several different governmental programs that offer cash to startup-crazed founders in exchange for spicing up their local tech scene… Off the top of my head, has a fairly popular offering, comparatively relaxed standards (vs. a YC, FI, Techstars, etc), and doesn't take a cut of the company. That's $40K in cash, right there.

Overall, I'd say don't get so laser focused on a dollar amount, or where it comes from. Give away half the equity if you have to, because owning 100% of nothing is… nothing! Just get out there, start building it, and see what happens. Course correct. Tear it up and start over. All stuff you can at least START moving forward with without spending a dime (Amazon will host your site for free until it gets traffic, and if you get enough traffic to PAY for AWS, you probably have enough traction to start talking to investors, if the idea itself is interesting).

Good luck to you!

I am a Dutch student. I want to start an internet business. How hard is it for me to get a loan from the bank to start it?

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