If you want to take out a loan as a self-employed person, it is much more difficult for workers with a regular income to find positive feedback. This becomes clear when you look at a loan for the self-employed in comparison. Providers who are nevertheless willing to grant a loan to the self-employed often require extremely disadvantageous conditions for the borrower due to a lack of security. These start at four percent, regardless of creditworthiness, but can increase to double due to the lack of collateral, if a loan can still be granted.
There is a credit for self-employed in comparison with numerous online comparison tools
Anyone who chooses the option of external financing as a self-employed person will find a variety of tools on the Internet that compare the respective providers and analyze their conditions thoroughly. It also shows how high the hurdles in the credit granting process actually are. For example, many banks require tax returns or balance sheets for the past two financial years. Information on personal financial relationships is also mandatory, but this is also the case for normal employees.
A surety or other collateral is extremely advantageous
Another clear comparison with regard to a loan for the self-employed is that these people with their own trades by placing fixed assets or finding a suitable guarantor in the form of business partners or affiliated companies certainly increase their own chances of a positive one at the respective bank To get reaction, increase significantly.
The maturities and repayment flexibility also play an important role
If you want to take a close look at a loan for the self-employed in comparison, you should not only pay attention not only to the interest rates, but also to the terms and the repayment flexibility. Smaller companies in particular can face financial constraints in the first few years. If a bank does not grant flexibility in the form of a monthly suspension of repayments if there is a positive reaction to the granting, appropriate insurance is more than advisable.