If you want to take out a payday loan for the self-employed, there are a number of hurdles in Germany because many banks do not offer appropriate lending. The main problem is that you have no regular and secure income and therefore one of the main forms of security ceases to exist. Nevertheless, there are now some direct banks that also offer a loan for the self-employed and freelancers on the Internet. Below is an overview of the special features of a loan for the self-employed.
Secure credit for the self-employed with appropriate documentation
While with a normal loan a certificate of earnings and corresponding bank statements are often sufficient as proof of income, for a loan for self-employed and freelancers the banks need a precise overview of the sales, earnings and of course also about the future business prospects, because they can only be so sure that you have the financial means to repay the loan for the self-employed. In addition to the profit calculation of the previous year, the tax assessments of the last two years and a business evaluation, a business planning calculation is also expected, which shows the future earnings potential exactly.
It is also important to have a positive Credit Bureau file if you want to take out a loan for the self-employed. While the tax assessments and the planning calculation show the financial possibilities, the Credit Bureau information ensures that you have sufficient payment behavior to completely repay the loan as a self-employed person. In addition, the bank also receives corresponding information about other loans that are already running.
The credit for the self-employed is still a private loan
If you get a positive decision after the application, you usually have complete freedom of choice about what you want to do with the loan for the self-employed. The loan is considered a private loan, since you are liable as a self-employed person with all of your private assets and therefore do not necessarily have to be used for business purposes. In this way, you can use a loan for the self-employed and freelancers in a very versatile way and still have a certain financing scope for your own professional existence.