{"id":6566,"date":"2019-11-26T12:02:55","date_gmt":"2019-11-26T11:02:55","guid":{"rendered":"https:\/\/b3z2cq.myrdbx.io\/?page_id=6566"},"modified":"2024-10-31T18:36:23","modified_gmt":"2024-10-31T17:36:23","slug":"participating-loans","status":"publish","type":"page","link":"https:\/\/www.mzs-recht.de\/en\/your-specialist-in-capital-markets-law\/financing-of-companies\/participating-loans\/","title":{"rendered":"Participating loans and subordinated loans"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"6566\" class=\"elementor elementor-6566 elementor-2458\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f4946f8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f4946f8\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2d53144 sc_inner_width_none sc_layouts_column_icons_position_left\" data-id=\"2d53144\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f29b16a elementor-widget elementor-widget-heading\" data-id=\"f29b16a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Participating loans and subordinated loans<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f389e2 elementor-widget elementor-widget-spacer\" data-id=\"8f389e2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e4c1ee2 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e4c1ee2\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1c32d5f sc_inner_width_none sc_layouts_column_icons_position_left\" data-id=\"1c32d5f\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-978345b elementor-widget elementor-widget-text-editor\" data-id=\"978345b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The participating loan is usually a mezzanine loan and thus a special form of loan. For regulatory reasons, participating loans are typically structured as subordinated loans, which means that the claims of the loan creditors are only settled after the &#8220;normal&#8221; liabilities of the company. The lender of a participating loan receives a share in the profits or turnover of the company in return for the capital. This participation may be limited to the business purpose for which the loan was granted or may concern the entire business activity. In addition, a fixed interest rate can also be agreed.<\/p><p>The main difference between a silent partnership and a participating loan is that the lender does not have a stake in the company. He has no influence on the company&#8217;s business. A participation of the lender in the losses of the company is also excluded.<\/p><p>Since the implementation of the German Small Investor Protection Act (Kleinanlegerschutzgesetz), participating loans and subordinated loans are also investments for which a prospectus is generally required. Special exceptions exist for an offer of such loans via a crowdfunding internet platform. A licence pursuant to Section 34f of the German Trade Regulation Act (GewO) is required for offering such loans to investors.<\/p><p>The participating loan is a flexible investment model that offers the entrepreneur the opportunity to raise funds without having to hand over the reins.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-dd31e28 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"dd31e28\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-326f71b sc_inner_width_none sc_layouts_column_icons_position_left\" data-id=\"326f71b\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d519087 elementor-widget elementor-widget-text-editor\" data-id=\"d519087\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Would you like to learn more about our law firm? General information on our practice and our lawyers can be found in the subsection<\/p><p><a href=\"https:\/\/mzs-recht.de\/en\/the-law-firm\/\"><strong><span style=\"text-decoration: underline;\">&gt;&gt; The Law Firm<\/span><\/strong><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The participating loan is usually a mezzanine loan and thus a special form of loan. For regulatory reasons, participating loans are typically structured as subordinated loans, which means that the claims of the loan creditors are only&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":6552,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-6566","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.mzs-recht.de\/en\/wp-json\/wp\/v2\/pages\/6566","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mzs-recht.de\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.mzs-recht.de\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.mzs-recht.de\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mzs-recht.de\/en\/wp-json\/wp\/v2\/comments?post=6566"}],"version-history":[{"count":5,"href":"https:\/\/www.mzs-recht.de\/en\/wp-json\/wp\/v2\/pages\/6566\/revisions"}],"predecessor-version":[{"id":6571,"href":"https:\/\/www.mzs-recht.de\/en\/wp-json\/wp\/v2\/pages\/6566\/revisions\/6571"}],"up":[{"embeddable":true,"href":"https:\/\/www.mzs-recht.de\/en\/wp-json\/wp\/v2\/pages\/6552"}],"wp:attachment":[{"href":"https:\/\/www.mzs-recht.de\/en\/wp-json\/wp\/v2\/media?parent=6566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}