As an employee, it is easy to apply for a loan, if you can prove a permanent employment and regular income and also a query of Schufa remains inconspicuous, is a lending by a bank, nothing in the way. For freelancers and self-employed it is more difficult to get a loan, because a loan for self-employed is reluctantly forgiven by banks. Nevertheless, banks offer their self-employed customers a special business loan or loan for the self-employed. However, the conditions for obtaining a loan are stricter than for employees.
Prerequisites for a loan for self-employed
For a loan for the self-employed, the creditor must first prove that he has reached a sufficient income. Since the income of freelancers and the self-employed can differ from month to month, an average value is applied for the application for an entrepreneurial loan. In order to be able to prove this income for the loan for the self-employed, it is necessary for the potential borrower to provide the bank with its business evaluations, as it has no salary statements. But even with the submission of these evaluations, it is not yet certain to obtain a business loan, because most banks require that the lender must pursue his self-employment for several years to estimate that the loan for the self-employed paid in the future can be. In addition, it is helpful and often even necessary that the bank’s self-employed loan can provide collateral that can secure the loan.
If you’re a self-employed person looking for a business loan, you quickly realize that many banks have little or no chance of lending. This is because banks continue to classify self-employment as insecure and therefore consider a loan for the self-employed to be at an increased risk of default. But even the irregular income is one reason why a business loan is reluctant to forgive, because many self-employed work with payment targets, which can lead to the fact that customers do not pay and thus the self-employed has no income. For this reason, a loan to the self-employed is only given at increased interest rates and under strict conditions.