As a freelancer or self-employed person who needs credit for business investment, a variety of banks offer credit lines. However, when a loan is needed for home use, lending becomes more difficult as many banks do not offer loans to the self-employed. However, if a loan is required for current account, for private purchase or for the settlement of a bill of sale or purchase, it is advisable to inquire in good time and to look for a suitable service provider and credit.
A home loan can be taken on as a self-employed or self-employed person only under difficult conditions as credit institutions are reluctant to provide a personal loan for the self-employed. A freelance or self-employed person may be in financial distress if a customer fails to meet his payment obligations. When concluding a loan, a house bank must therefore fear that the borrower will then no longer be in a position to repay the loan taken.
Effective annual interest rate
Because the risk of failure of a loan for self-employed is much higher than for other loans, such a loan is granted only under more stringent conditions. Even if a self-employed loan is not granted by every house bank, there are still enough comparable loans. Although it is difficult to obtain a loan as a self-employed person or a suitor, it is advisable to check the offers before applying for a loan in order to get the best possible and cheapest loan.
Probably the most significant expense factor for a loan is the annual percentage of the fee. The effective annual interest rate includes the debit interest as well as all processing fees and other expenses incurred. In the credit comparison, all credit institutions and also credit intermediaries have to show this interest, because only with it a meaningful credit comparison is possible. For a comparison, you can visit one of the many comparative computers in the network.
For a reconciliation, you should specify the desired loan amount and the desired repayment term as well as the purpose. A purpose is always meaningful when it comes to earmarked credits, usually at lower interest rates than freely available credits. These are usually granted at lower interest rates. In particular, if a loan is to be used for car purchases, it is advisable to look for a car loan right away.
Credit guidelines for self-employed loans
Although the credit guidelines for self-employed loans are stricter, it is also possible to obtain them from direct banks. For employees with a fixed position and a fixed salary, these criteria are sufficient as collateral, for self-employed and freelancers the situation is different. For the granting of credit, they must provide the credit bank with additional collateral, as the increased default risk must be reduced by using collateral.
For example, it is often necessary to have balance sheet, tax assessment and profit and loss account for the credit check. It is also appropriate to use other safeguards to secure loans; In addition to land and securities, this may include capital-forming life insurance policies. If payment problems occur when repaying the loan, the principal bank may take up the backups used to repay the loan.
If you do not have sufficient security, you can submit a loan for the self-employed in another way. It is also possible to claim a loan from another applicant. This is particularly useful if the second borrower has a fixed employment contract and receives a regular salary.