Loan commitment from your bank or other bank
Online loans are an interesting form of financing, especially for start-ups, self-employed or young companies. How to find the right online balance. However, not all direct banks offer instant loans for the self-employed. Often it is not easy to get a loan commitment from your bank or other bank due to the personal risk rating for entrepreneurs, self-employed and young companies. The Internet and the provision of online loans offer new alternatives.
Loans for the self-employed
Most financing, with the exception of interest-free and government bonds, comes from credit institutions. Often associated with high interest rates, of course, credit claims must be reimbursed. Typically, credit institutions justify the identification of high interest rates by suggesting that the default risk for freelancers is greater than for employees. For credit institutions, a self-employed loan is also associated with additional expenses. Second
Freelancers do not have a contract of employment. As a rule, banks therefore require a company valuation (BWA). The financial position is calculated on the basis of the BWA and the loan conditions. Even if you work more hours on average than employees and many freelancers generate above-average incomes, it is a crucial criterion for banks to decide whether a regular repayment of claims is possible.
As a result, many banks prefer employees to the self-employed and self-employed. The cause is the regular result and thus the possibility to repay the loan on time. The Austrian Credit Protection Association (KSV) has the administration of the economic information of companies and private persons available. Since 1870, has provided information on the financial situation and creditworthiness of an application to the competent authority.
These data are used to decide whether or not a business or natural person is creditworthy. The self-employed usually have no regular income. The order situation and the payment behavior of the clients usually complicate the financial resources and opportunities of self-employed and freelancers. Investors, maybe even start-ups, can understand your situation and help finance your loan project.
Credit for self-employed and self-employed individuals
If an online loan without a proof of purchase is requested, the person concerned has no demonstrable regularity. The lender needs adequate security, so that in many cases it is difficult, in many cases not possible, to obtain a loan without proof of income to gain. Lenders based in the Federal Republic are therefore obliged to provide further security in other ways.
If none of these securities can be offered for purchase, a loan approval is almost impossible. For the German credit institutions, the Credit bureau examination is a fundamental requirement for a credit approval. If the applicant has a negative credit, no credit will be granted. This protects debtors from over-indebtedness and protects lenders from excessive bad debt losses. Even without a negative characteristic, loans with a bad credit rating are not granted or only with a very high interest rate.
There are hardly any opportunities for the self-employed. Loans from private individuals can be a useful addition. This does not apply to loans from family members or friends. In addition, there are trading platforms that are geared towards credit brokerage. These are so-called peer-2-peer loans or P2P loans.
Payday loan are not an option for a loan without a credit check
In this type of loan, the borrower describes his loan application (rescheduling, investments etc.) as detailed as possible and indicates his financial situation. The applicant also determines the interest amount of the loan. The loan project will now be online on the relevant website and read by various private investors who invest proportionately. If, after a certain period of time, sufficient investors find the loan at the desired conditions, the loan can arise.
This means that Payday loan are not an option for a loan without a credit check. A Peer2 loan is therefore more dependent on a convincing presentation of the loan project and there is no distinction between employees and self-employed. In this way, it may be possible to obtain credit on a credit platform that would be unavailable at some banks.