Finding a quick loan for the self-employed is not always easy. Many banks generally do not grant loans to the self-employed, other banks check very carefully whether the requirements for borrowing are met. As a rule, this can only be the case if the self-employed have already established themselves on the market and convinced with their business idea. In addition, the income, which may be more or less subject to fluctuations, must be high enough to make borrowing seem justified, since it is very likely that the self-employed person will not only be able to meet his financial obligations but will also be able to pay regular monthly loan installments.
Credit comparison – loan comparison and pay attention to which banks
In order not to waste any time, it is advisable to first carry out a loan comparison and pay attention to which banks can generally give a quick loan to the self-employed and which banks exclude this. An online loan comparison can answer this question quickly, safely and reliably. You should use a loan calculator for this. Here you can use various search criteria, including a loan for the self-employed. In this way you will only be shown the offers that are suitable for you.
The self-employed in particular have to calculate their time very precisely and therefore do not have the opportunity to visit all local banks individually, to ask whether you are granting a loan to the self-employed and, if so, under what conditions this happens or what conditions must be met. An online loan comparison is available every day of the week or on weekends and even on public holidays. It is also possible anywhere and around the clock. This flexibility in terms of time and location suits the self-employed very well.
In the case of a quick loan for the self-employed, a distinction must be made between a loan from a bank, between a loan from a private individual and a loan from a private credit intermediary. Foreign banks generally have little chance of getting a self-employed loan at all. This applies regardless of whether you are looking for a quick loan or a conventional loan. Foreign banks can grant loans to Germans, but they almost always limit their offers to employees and civil servants or civil servants, since regular income is essential for foreign loans. The main reason is the fact that foreign banks do not request Credit Bureau information.
Loan terms – able to repay a loan properly
Banks and private lenders want to be largely certain that the customer is able to repay a loan properly, on time and in full. For this reason, they will check very carefully whether the conditions for a loan exist in a specific case. This is no different with a quick loan for the self-employed. The documents that a self-employed person or a trader needs to assess their creditworthiness are different documents than the documents that an employee or an official must submit to the bank.
As a rule, the bank will ask you for a business statement, the last tax assessment, an income surplus invoice or a comparable document. From this, she can derive the amount of your income from self-employment and use this as a basis to assess whether and to what extent a quick loan would be possible for the self-employed. In addition, you always have to expect that the bank wants to see your Credit Bureau information, if you apply for the quick loan for self-employed persons at a German bank, a savings bank.
After all the documents have been received by the bank, your loan application will be checked immediately. You can either submit the documents in person to a bank branch or send them to the bank by post, e-mail or as an attachment to the online credit form.
As soon as the loan can be approved by the bank, you will receive the money as soon as possible. This is basically done in one amount, while the repayment of the quick loan has to be made in several monthly installments.
Payday loans – very difficult to get a loan from a bank
Many self-employed people have found that it is very difficult to get a loan from a bank. For this reason, they are looking for a viable alternative. This can be a personal loan. Such a loan can either come from a person in your personal circle of acquaintances or relatives or via a credit brokerage portal for private loans. Many private lenders are much more open than the banks when it comes to approving a quick loan for the self-employed. However, there cannot be a 100% guarantee here either.
If you are interested in registering on an internet portal that wants to broker private loans, you can do so at any time free of charge. The same applies in the event that you grant a personal loan and would like to receive interest in return. The terms for lending and the credit terms are negotiated individually between the possible contracting parties. The legislator makes no specifications here. The credit portal also does not decide who can and cannot receive a loan. This is entirely up to private lenders.
Private credit intermediaries
There are many private loan brokers. They usually offer their services on the Internet. Some of these credit intermediaries have been active in this area for many years or even for several decades and are therefore very familiar with the entire range of loans in Germany and abroad. For this reason, you can realistically assess where and under what conditions a quick loan for the self-employed is possible. However, you should carefully choose the private credit broker you want to hire to find a quick loan for the self-employed, because not all private credit brokers are reputable.
You should always be skeptical if a private loan broker asks you to checkout in advance if you don’t know if you can get a quick loan for the self-employed. A reputable credit broker can use your personal financial situation to assess very precisely where a loan application makes sense and where it doesn’t. A certain minimum level of collateral should always be available