Those who are self-employed or self-employed often find it much more difficult to obtain a loan than an employee. The income of entrepreneurs is not as secure and regular as that of salaried workers. Many banks reject entrepreneurs or traders for these reasons. Some institutes still provide a loan for entrepreneurs.
The first point of contact for entrepreneurs should be the house bank
Anyone applying for a loan as an entrepreneur should first distinguish whether it is a privately used loan or a business loan. A direct bank can be considered for a private loan. The house or commercial bank is responsible for the company. As a rule, entrepreneurs have a long-standing business relationship with the house banks. All banking transactions are processed via the business account and wages and salaries are paid to the employees. Possible reserves can also be made at the company’s house bank.
The house bank, which provides the trader’s accounts, can of course more easily estimate whether a credit transaction can be concluded. A loan for an entrepreneur should therefore normally be possible with regular income from the house bank. However, if your own bank cancels, it becomes very difficult for the self-employed. Only a few credit institutions on the Internet offer loans for entrepreneurs.
An online loan for entrepreneurs is also possible under favorable conditions
Since entrepreneurs cannot provide proof of salary from an employer, they must submit business evaluations to the bank for income calculation. As the credit rating of self-employed is more difficult than that of salaried employees, banks often charge higher interest rates on these loans. In order for a loan to be approved for entrepreneurs, the offering online banks require that the business has been practiced without interruption for at least three years. The Credit bureau information should also not contain any negative entries for entrepreneurs. If the loan is paid out, monthly installments of the same amount are due, as with employees.
Entrepreneurs can also apply for a loan as a private individual
If an online credit application for entrepreneurs is approved, it should only be used privately. The company’s house and commercial banks should continue to be responsible for financing the company. With the approved loan, freelancers and traders can meet their private payment obligations and clear overdraft accounts or settle open, private bills without having to touch the business balance. Entrepreneurs should also attach great importance to the timely repayment of the loan.
Outstanding installments also limit the creditworthiness for the business area of the entrepreneur. Anyone who is interested in a private online loan as an entrepreneur should in any case compare different loan offers with one another and request and obtain different offers.