Calculate the income of a self-employed person
The loan for the self-employed despite Credit bureau is a loan on the one hand the borrower works as a self-employed person and on the other hand no query from Credit bureau is requested or the Credit bureau is negatively debited. As a result, this type of loan is generally not granted, because a negative Credit bureau is a non-negotiable reason for rejection at most German banks.
In addition, the self-employed are not necessarily chosen as ideal customers for a credit institution, because this group of people does not have a permanent position with their income and therefore has no proof of income security. If the order situation collapses or business operations stall, the income of the self-employed also falls, or at least it is reduced.
Accordingly, it is very difficult for a bank to calculate the income of a self-employed person, since no fixed annual turnover can be identified, unless the self-employed person has successfully pursued his activity for several years without a large loss in turnover or profit. The loan for the self-employed despite Credit bureau is therefore quite possible, but a rejection must always be expected.
Foreign lenders, for example Good lender banks, do not check the Credit bureau and are therefore willing to issue a loan even under these conditions. Nevertheless, Good lender banks also prefer customers with permanent employment or civil servant status to being self-employed, which is why the individual case and the verifiable income are decisive here.
What alternative ways are self-employed available?
The self-employed person can of course also choose an alternative way for a loan for the self-employed despite Credit bureau. For example, a loan on a private level is possible, because here the self-employed can take out a loan without checking the Credit bureau. Since the money lent comes from the private income of the lender, mostly only small loans or microcredit are possible.
Whether this option is available depends largely on the financial situation in your own environment and the relationship of trust with each other. Since no loan contract is drawn up for smaller loans, at least this is not common, the relationship between the lender and the borrower determines whether a loan is issued. Popular private lenders are often their own parents, partners or very good friends.
It is possible that one of these people can also be used to apply for a loan for the self-employed from the bank despite Credit bureau. These persons would then be used as guarantors and would be liable with all their income and assets for the borrower’s debt until the full amount of the loan and interest was repaid to the bank.