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Bridging financial bottlenecks in the short term

Convertible loan

Online coaching on the topic of convertible loans plus a term sheet tailored to your individual needs (max. 4 hours of coaching or legal advice included in the price).

from
1349
( plus VAT. )

What you get

Coaching convertible loans

Do you want to use a convertible loan for bridge financing? In a 2-hour online coaching session, we will provide you with all the important information and specific answers to your questions.

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Legal advice only from lawyers

Legal advice is only provided by lawyers. Usually by the experts at Tax&Legal digital, Lahann, Pikolleck & Partner, Rechtsanwälte und Steuerberater, PartG.

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Term sheet convertible loan

We will create a term sheet to help you negotiate the terms of your convertible loan. The hourly quota for this is 2 hours. If we need more time for the creation, we will coordinate this individually with you and offer further processing at an hourly rate of 150.00 € net.

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Support with term sheet negotiations

We will support you during the negotiation of your term sheet by answering your questions and giving you specific tips for your negotiation. The hourly quota for this is 2 hours. If we need more time for this, we will discuss this with you individually and offer further processing at an hourly rate of €150.00 net. Participation in the negotiations themselves is not included.

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Preparation of convertible loan agreement

We create a customised convertible loan agreement for you that implements the results of your term sheet negotiations. The hourly quota for this is 4 hours. If we need more time for the creation, we will coordinate this individually with you and offer further processing at an hourly rate of 150.00 € net.

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Organisation of notary appointment / communication with notary for convertible loan

We will be happy to contact the notary's office on your behalf to make your convertible loan legally secure and to arrange appointments with the notary's office (e.g. the notarisation date).

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Official notary fees not included in the price

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Additional services

Contract texts for convertible loans in German and English

We create contract texts for convertible loans in both German and English.

300

( plus VAT. )

Tax cross-check

1 hour of tax coaching on your company structure. A maximum of 1 hour of coaching, tax and legal advice is included in the price. If we need more time for this service, we will discuss this with you individually and offer further processing at an hourly rate of € 150.00 net. Tax cross-check only by tax consultants.

99

( plus VAT. )

Total price

1349

( plus VAT. )

What we stand

Digitale Gründung is a team that drives new digital solutions so that you can concentrate fully on YOUR business.

No hidden costs

No hidden costs

We help you through the start-up process in a structured and cost-efficient manner.

Made in Germany

Made in Germany

Developed and operated in Germany for maximum security and data protection

Independent

Independent

We advise you independently, quickly and transparently

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FAQ

Do I have to go to a notary for a convertible loan?

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If the investor (lender) undertakes in the contract to acquire GmbH shares under certain conditions, the convertible loan must be notarised. This has been decided by a court for lenders who are not yet shareholders of the GmbH. To be on the safe side, the convertible loan should therefore generally be notarised. Otherwise the entire contract is null and void. This has particularly serious consequences with regard to subordination. If the subordination is ineffective, the GmbH is threatened with over-indebtedness. This is a reason for opening insolvency proceedings. If this is overlooked, the GmbH managing directors could even face personal liability in the worst case.

Why take out a convertible loan?

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A convertible loan is particularly suitable as bridge or transitional financing. A liquidity bottleneck between two financing rounds can thus be avoided. In addition, convertible loans provide the opportunity to achieve a higher company valuation because the valuation is postponed into the future. However, convertible loans can also be used specifically for financing. Their advantage lies in the fact that they are usually agreed with a so-called qualified subordination. This prevents the GmbH from becoming overindebted. At the same time, the shares of existing investors will not be diluted for the time being.

What is a convertible loan?

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A convertible loan is a special form of loan (credit). It is particularly suitable for limited liability companies. The investor (lender) undertakes to make a certain sum available to the GmbH (borrower). The loan usually bears interest. Under certain conditions, the lender has the right or even the obligation to convert this sum into equity in the GmbH. This means that the borrower does not repay the loan, but the lender receives shares in the GmbH (borrower) that are worth the same as the loan amount plus interest. The loan is exchanged for GmbH shares, so to speak.

What is a Qualified Financing Round?

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A financing round is a qualified financing round if it reaches certain key figures. These are defined individually in the contract. If all requirements are met, this constitutes a qualified financing round and the loan must generally be converted. The financing round often has to be completed within a certain period of time, for example 2 years. In addition, fresh capital of a certain amount, for example € 1 million, must usually be raised from new investors. It is also possible that the GmbH must achieve a certain valuation of € 5 million, for example, in the financing round. A financing round that does not meet the conditions set out in the agreement is a simple financing round.