It is often very difficult for the self-employed to find a loan. The reason for this is the usually uncertain financial situation. Sales fluctuate and no one can predict what sales will look like in the future.Nevertheless, it is possible to find the right financing for a self-employed person by comparing them with a loan.
Credit for the self-employed – what needs to be considered?
In order to have any chance of getting a loan for the self-employed, the credit rating must be good. The creditworthiness is determined based on the income and the credit information.
If the earnings are not enough or there are negative entries at credit, a loan is rejected. Furthermore, the permanent residence must be in the country. A current account is also essential.
Many credit institutions require a business evaluation as proof of sales. For others, however, the last income tax notice is sufficient. It depends on the bank.
Before acting hastily, a guide and credit comparison should be used. At a glance, the user will find all relevant banks that would be eligible for a loan for the self-employed. A guide also answers many questions about the loan for the self-employed.
Saving money on credit
Everyone has to do the math these days and has nothing to give away. By comparing the loans, the loan seeker can really save money. It is important, for example, how high the annual percentage rate is.
The banks’ offers differ considerably. It is also important whether the bank allows special repayments free of charge. Many banks charge fees for early repayment of the loan.
These are called prepayment penalties. But not every bank charges these fees. Most direct banks or online banks do without this practice altogether.
This could become important if the loan is to be repaid early. Rate breaks could also be interesting. There are also banks here that grant such a rate break once a year. A prior consultation must of course take place.
Branch banks always want to know what the self-employed loan is for. It’s different with online banks. The purpose is free and is not questioned.
However, exceptions confirm the rule. A car loan is earmarked because it charges lower interest. It looks the same with real estate loans. These two loans may only be used for this purpose, regardless of whether it is a branch or a direct bank.
Take out credit directly on the PC
Many banks use the video ident. The borrower must then legitimize himself from home. A webcam or smartphone is required, as is a valid ID card.
This has the advantage that it is no longer necessary to go to the post office. This speeds things up and the faster the money is in the account when the loan is approved.
A loan for the self-employed can be found quickly via a loan comparison, even if not many banks are willing to do so.
With a positive credit and a corresponding turnover, the user finds banks on the Internet that are ready for a loan.
Branch banks find it more difficult. You can also save money with an online loan. Interest rates are significantly lower than at the branch banks. A guide gives information on what to look out for.