Loan for the self-employed – Find the right financing through loan comparison

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?

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.

Free use

Free use

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.

Conclusion

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.

Credit card comparison & calculator

Pay with a plastic card or smartphone: everyday life in Sweden. In this country you are on the best way. The credit card has gained a permanent place in everyday life, be it in the supermarket at the checkout or on vacation. Many simply take advantage of the Visa or MasterCard offer from their house bank and pay an average of 30 dollars a year. It is also much cheaper or with noticeably more performance – depending on the credit card requirements. In order to find the best possible solution, also with a view to the annual fee, our credit card comparison is the ideal starting point.

Credit card comparison

How does the credit card comparison work?

How does the credit card comparison work?

Getting an overview of the different credit card offers is relatively easy. The credit card comparison is based on a few key data that can be adapted to personal requirements. First of all, it’s about annual sales. Those who only rarely pull out their credit card should set a rather small amount (the amount can be changed again and again later for further comparisons). The same applies to credit card sales abroad – wherever payments are made in a foreign currency.

If you want to have the credit card of a certain company, you can also specify this, including the type of card – for example whether it should be a gold credit card. The most important feature is and remains the billing. A distinction is made between:

  • Cards with the option to pay in installments – chargeable as interest is charged.
  • Cards with the amount debited from the current account in the following month.
  • Cards whose sales are charged directly to the checking account (debit credit cards).
  • Cards that work on a credit basis and need to be “topped up” (prepaid credit cards).

If all facets of the desired credit card have been honed, our comparison shows the best offers. Here you can then take another look at whether all of the features are really taken into account.

When do I need a gold credit card?

When do I need a gold credit card?

Golden credit cards are generally of higher value – in terms of performance – than normal master or Visa cards. The difference becomes clear when you look at the catalog of services. Most golden credit cards come with an insurance package that typically focuses on travel. The conditions must then be taken into account here. Sometimes gold credit cards also offer bonuses or discounts from several cooperation partners, for example at petrol stations.

If you rarely use your credit card, the often more expensive golden cards are of little interest. Only if you consistently use the service components of the card, the additional expenditure of 50 or more dollars per year pays off. Most users drive best with a normal credit card. Ultimately, user behavior is crucial. You should think about this before comparing credit cards.

Are prepaid credit cards only for children and teenagers?

Are prepaid credit cards only for children and teenagers?

Not at all: prepaid credit cards are also very useful for adults and adult consumers. This always applies if you use the card only rarely and actually have it with you as an emergency reserve. In addition, Credit Bureau information is not required for credit cards on a credit basis – ideal for anyone who has ever had problems with Credit Bureau.

It should be noted with prepaid credit cards that you always top up sufficient credit and that a correspondingly high amount can be topped up. Decisive are also the costs, the purchase of the card, the annual fee and all transactions. Important: prepaid credit cards are not accepted everywhere!

What are the costs of a credit card?

What are the costs of a credit card?

The aim of our credit card comparison is to keep costs as low as possible – after all, nobody wants to pay more than is absolutely necessary. With credit cards, there are several factors that have to be taken into account.

  • Annual fee : It is billed each year – and is sometimes waived for the first twelve months. Usually, the higher the annual fee, the thicker the catalog of services.
  • Cash withdrawals: At some banks, cash withdrawals with a credit card are completely free, even abroad. Others charge a flat rate or a percentage fee for each transaction, i.e. every trip to the ATM. That ranges up to more than 5.00 dollars per withdrawal.
  • Foreign assignment fee: Since many people take the credit card with them on vacation, it can happen that a foreign assignment fee is charged. This fee applies if payments are made in a foreign currency or if money is withdrawn outside the EU or the EEA. It ranges from one percent to 2.00 and more percentage points. Sometimes it is completely eliminated – which is optimal.

Our credit card comparison is the easiest way to compare the fees.

Consumer credit still as popular

With rates that are becoming more and more attractive, the French still use consumer credit. For some households, this solution has even become almost a habit with each need. A situation closely followed by the current authorities.

Consumer credit: a beneficial product for banks

Consumer credit: a beneficial product for banks

Compared to other bank loans, such as the mortgage for example, consumer credit remains the most attractive product for the bank. Even if rates are falling, the high demand numbers allow lenders to keep their liquidity always on the move. Which is also the goal. In addition, with shorter repayment periods, the borrowed money can quickly be reinvested in other areas. This is far from the case of mortgages which generally represent a high risk rate for banks.

Today, the banks are then putting forward their consumer credit offer, on the one hand to meet customer needs, than to remain competitive on the other. As a reminder, a groupama consumer loan is a loan granted to an individual in order to finance various purchases of goods and services, or other more important investments, such as the refitting of a house, etc. To find out more about this credit, visit this page.

The consumption credit of French households in figures

According to reports from the Fine Bank, the number of individuals using consumer credit is constantly increasing. Over the past six months, this upward trend has been confirmed with a rate of + 5.7% between April 2019 and June 2019. A rate which continued to climb during the following quarter with an increase of 6, 7%.

Faced with this situation, the authorities of the High Council for Financial Stability were rather concerned. Indeed, they fear a strong uncontrolled increase which could have a negative impact on the economic and budgetary situation of the country. Faced with this, the banks remain confident and continue to grant personal loans to consumers.

The worrying setbacks of consumer credit

The worrying setbacks of consumer credit

With the attractive conditions of access to consumer credit, households generally have no difficulty in accessing it. And the deliberation of the requested sum does not take time. A real boon for consumers.

However, this advantage has its share of drawbacks. And by dint of subscribing and still subscribing to several debts, the consumer could accumulate monthly payments and fall into a situation of critical over-indebtedness.

Despite this, the Fine Bank says that this upward trend is not yet ready to stop. And we should still expect an increase in the numbers in the months that follow.

Urgent money without credit: the best alternatives

 

Are you facing financial difficulties or want to start a project that has been put on hold for too long? Surely you need money. However, it is not always easy to go through the bank loan, especially when you know that the procedures can be cumbersome and time consuming. To help you then, discover through this article the best alternatives to get money without credit and go through the bank.

Fast credit online

Fast credit online

If you want to get money faster without going to the bank, you can consider fast credit online. Indeed, this alternative allows you to get $ 200 in just 24 hours. In 48 hours, you can get between 50 to 1000 $ depending on your needs. The procedure for applying for rapid credit online is more flexible. You can compare and find the best offer suited to your needs.

As fast online credit does not go through the bank, it can be said that the conditions for obtaining them are more simplified. Online credit is an ideal solution for all those who need money urgently. Whether you are in financial difficulty, unemployed or even banned from banking, you are likely to get credit online. However, before taking out the loan, make sure that you are able to repay the monthly payments on time.

The loan between individual

The loan between individual

To have money without making credit with a bank, it is also possible to take out a loan between individuals. As part of a loan between individuals, you can either borrow from a family member or a loved one, or go through a specialized platform connecting individual borrowers and lenders. However, even if the loan between individuals is simpler and more flexible, there are still formalities to be respected to protect the parties to the contract.

Indeed, even if a relationship of trust exists between the particular borrower and his relatives, it is recommended to establish an IOU to avoid possible problems. In case the loan amount exceeds $ 760, it will be necessary to notify the tax services. If you decide to go through a specialized platform, know that this credit will also have to be formalized by an acknowledgment of debt.

Social loan

Social loan

Social loans are also a good alternative for getting money without going to the bank for credit. In addition, it is a solution that allows to have a loan at low cost. In some cases, the borrower may even qualify for a zero rate loan. There are several types of social loans depending on your needs and your situation.

For example, you have the option of choosing microcredit. It is a loan that makes it easier to overcome a financial difficulty and get back on track. The amount of a microcredit cannot exceed 3000 $ and the repayment will be made in a fairly short period.

Loan without intermediaries.

There are always situations in life in which it is necessary to take out a loan. This can be the case if a repair is necessary or an acquisition has to be made.

There are several ways to take out a loan.

There are several ways to take out a loan.

On the one hand, a loan can be taken out through the house bank, an intermediary can be engaged, or an online loan can be applied for. A loan without an intermediary has clear advantages over a loan with an intermediary. The costs for the intermediary are included in the installments and therefore the effective monthly interest rate usually increases. In order to get more favorable conditions, you should first try to take out a loan without intermediaries.

A broker may be involved if the credit rating is poor or if there are other difficulties with borrowing. If the credit rating is good or normal, there is a regular income and there is no negative Credit Bureau entry, taking out a loan without an intermediary should not pose any problems.

The possibilities of borrowing without intermediaries

The possibilities of borrowing without intermediaries

Portals are available on the Internet where you can easily and conveniently query the credit terms and, if necessary, apply for a loan. The online loans usually also offer more favorable terms, since the processing is completely online and therefore no advice is given. The banks can then pass on the saved costs for expensive personnel to the customers. In order to query the conditions of an online loan, the required loan amount and the desired term are entered. A list can be used to determine which banks offer favorable conditions.

The bank that comes first and offers low interest rates is not always the best. Additional criteria should definitely be taken into account. Most comparison portals show how other customers rate the bank and what the acceptance rate is. The acceptance rate can be neglected if the interested party can demonstrate a good credit rating. In many cases, interest rates are also given with a certain range.

This means that the prospect is offered the low interest rates with a good credit rating, but must expect higher interest rates with a medium credit rating. This should also be taken into account. Once you have decided on a bank, you can conveniently and easily submit the application online and send it to the bank with the required documents and a post ID to identify the person. After checking the documents, the money will be received in the account within a very short time.

Fundamentals for a loan without intermediaries

Fundamentals for a loan without intermediaries

Ultimately, it can be said that a loan without an intermediary is easily possible if the credit rating is in order or in the middle range. That varies from bank to bank. If the creditworthiness is poor, you should apply for the loan through an intermediary, as he has more options. In any case, one should make sure that the fees that the intermediary charges are not too high and that the effective interest rate is in a range customary in the market.