Debt financing/loan conditions in the German market

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by an investor from University of Oxford
in Hamburg, Germany

1yr ago

Debt financing/loan conditions in the German market

I'm currently exploring debt funding sources in the German market and recently had a discussion with our local Sparkasse. The conditions are closely linked to KFW products 365/366, and the banker confirmed that I might only use 5% for my calculations, even though it might be slightly cheaper in the end. Financing the full purchase price plus additional working capital/liquidity didn't seem to be a problem as long as the underlying business was strong enough to pay down the loan. Financing real estate on top of a business acquisition seems to be also quite possible. On the flip side, they do expect a personal guarantee.

What experiences have other searchers in Germany had? What debt levels are acceptable? What are conditions like? What about (personal) guarantees? Is there a way to structure a deal without a personal guarantee?

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