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Hi,
To start my activities as a freelancer (as a secondary occupation), I need to make purchases of a laptop and a mobile phone. I was given advice to apply for a business loan for this, as it would be more advantageous (and it is also more financially comfortable to borrow this amount). However, KBC’s proposal is not that good: 5.3% interest, 125 euro in administrative costs, 22 euro in management fees per quarter and 15% own contribution in addition to vAT. This brings me to +435 euro on an amount of 2212 euro. To make a comparison: on a personal loan for the same amount, I would only pay 187 euro extra.
Can someone give me an explanation as to whether it is still more interesting to take out a business loan?
Thanks for your help!
Kind regards,
Femke