Loans for the self-employed – how does it work?

It is not always easy for the self-employed, because orders often have to be pre-financed. But even when it comes to investing in new vehicles, machines or materials, the self-employed often need financing to be able to shoulder the expenses. Growth often requires investment and, depending on the needs of the self-employed, there are very different offers for self-employed loans. A basic distinction must be made as to whether a loan is needed for the company or a loan for private purposes, because the offers here are quite different and the chances of approval.

Loans from lender bank

Loans from lender bank

The classic among loans for the self-employed are the loans for the self-employed by lender bank. These loans can be applied for through the house bank. What makes the loan for the self-employed at lender bank so special is that it has particularly low interest rates with a fixed interest rate over 10 years. In addition to the well-known loans for start-ups, microfinance loans from 10,000 to 20,000 dollars are offered, corporate loans up to 500,000 dollars. However, lender bank loans are not always possible and are not always suitable and not always accessible.

A loan for the self-employed is only granted after a very thorough examination. Depending on the provider, an independence of 5 or 7 years is necessary. However, some providers already offer loans with two years of independence. The creditworthiness is checked based on the annual tax assessment and the current situation of the company. Current orders and prospective follow-up orders can increase the chances of approval. A comparison shows which providers have the most favorable terms and the comparison is always worthwhile.

Personal loans

Personal loans

A loan for the self-employed can also be a loan for private needs. There are occasional offers from credit intermediaries that are quite interesting. The offers should be examined precisely in this area, because the conditions and the requirements differ significantly from provider to provider.

Von Brewer