It is still not always easy for the self-employed professional group or even some professional groups among freelancers to get suitable loans. Be it due to too high hurdles in the credit rating requirement or too high loan interest compared to the loans offered to employees. In addition, many traditional financial institutions often have no credit offer for this group of self-employed. Nevertheless, there are ways out of the liquidity bottleneck.
First of all, you should determine the category of self-employed or self-employed. The distinction is made easy. If you are self-employed, choose the Commercial option. Anyone who works in the liberal professions is considered a freelancer and therefore has the opportunity to select the free use option in comparison. However, some banks understand freelancers as solvent professional groups such as doctors, lawyers and tax advisors. Freelance journalists and editors should therefore be seen as exotic for these credit inquiries. The next step is about creditworthiness.
As part of a loan application, a credit bureau query or account inspection occurs. The self-employed should also have their last two or three tax assessments ready. Business start-ups fall out here again, as a rule, they are not the target group for such self-employed loans, unless they have very good creditworthiness. KfW Bank has corresponding offers for founders with special conditions.
Digital loan application is significantly faster than the application process by post
There are now several ways to apply for a loan for self-employed and freelancers. Many direct banks and financial service providers now offer the option to conclude online. The authentication to be carried out as part of the loan application is carried out using a camera on a PC, tablet or smartphone.
Loans that are digitally lockable often offer fast application processes, instant credit decisions and fast payouts. Alternatively, you can also use the bank procedure at the post office counter, but this way of applying for a loan takes more time by post than the digital loan application. In addition to well-known banks and direct banks, also include financial service providers and credit platforms in your search for a cheap loan for the self-employed. The credit platforms mediate loans from private investors, here you have yet other ways to convince the desired loan.