The many freedoms that entrepreneurs and the self-employed are allowed to enjoy are stopped by private financing at the latest. While salaried employees with regular income receive an online loan after only a few clicks, in order to be able to fulfill small wishes, as a non-employee, you are exposed to many hurdles. But they are not insurmountable!
Before a bank offers a installment loan, it wants to be sure that the borrower is permanently able to settle his debts according to the contract. Since the credit default risk among start-ups, freelancers and entrepreneurs is particularly high , some banks do not even bother to serve these groups. Above all, payday loans are immediately rejected by most providers as soon as the applicant is not in a permanent employment relationship, but is self-employed.
But even as a self-employed person, you can take out a private loan. You just have to be smart and well prepared. One thing in advance: If you have just started your own business and your business is not profitable yet, you should keep your fingers off ordinary loan applications. In this case, get advice from the state-owned or inform yourself about support programs for business start-ups .
Only entrepreneurs who can prove a regular taxed income have a chance at all for a private loan.
Many payday loans are for salaried employees
As is often the case with important decisions, the first step also begins with the search for financing with an Internet search. But before you apply for a loan online , you should make sure that the self-employed person has the chance to make a commitment . The possibility of getting a loan even as a self-employed person should be mentioned explicitly in the FAQ or in the advertising message of the provider. Although this is not a guarantee for a license, at least you will not fail at the tight risk filters of the lender, which allow an instant pledge at all.
A little tip: You can find such a bank with the loan calculator from providers . There, after all, exact conditions are mentioned, which must be met in order to get a loan for self-employed and freelancers.
The prerequisites basically include proof of:
- a resident in Germany,
- a bank account in Germany,
- the age of majority,
- regular income,
- as well as a good credit rating.
In addition, there are some special features for self-employed and business people. For this it says at providers:
“The starting position for self-employed or entrepreneurs differs fundamentally from that of a private individual. providers has adjusted to the special needs of the affiliated partner banks and offers extremely cheap commercial loans – sometimes with exclusive interest, which is available exclusively from providers. ”
Although a regular income has many self-employed (what else would they live from?) – but the bank must be able to accept this condition for the future as well. And that is exactly what most independent applicants fail to do: They must have a healthy and trustworthy company.
So be prepared, regardless of whether you ask for funding online or offline at your local bank.
A matter of preparation: documents that the self-employed need
If your application as a self-employed person is not rejected immediately, that’s no reason to be happy. This is followed by a detailed review, possibly with the request for further documents. Therefore, you are well advised to complete the following tasks before applying for a loan :
- Sit down with your tax adviser
- Get a business evaluation
- Print annual financial statements and earnings statements
- Copy income tax assessments of the last 2-3 years
The BWA should be up to date (younger than three months). Also: Documents that can prove additional collateral give you an advantage. This includes proofs about
- Life insurance and home savings contracts
- real estate
- other assets (gold, shares etc.).
Estimate your chances of success yourself
Once you have completed all these tasks, you should be able to assess your own creditworthiness. Submit your loan application only if you have a good feeling. Then you have a good chance not to be rejected.
As you can see, the road to a loan for self-employed and freelancers can be a long one, which requires some preparation. But the promise is by no means impossible. And if it does not work online, make an appointment with your house bank. In a personal conversation, you may be more likely to convince your bank to trust you. But do not get involved in the first offer right away. The lending rates for the self-employed are often so high that there is actually still some room for negotiation.