Self-employed, small businesses and freelancers are welcome customers at banks. At least as far as she is concerned as a target group for the sale of pension insurance. However, if they ask for a loan for the self-employed, the bankers react more restrained to negative. The self-employed have massive problems in this country when it comes to getting a classic installment loan.
Loan for the self-employed – The request is free and without obligation.
In the table below we present you further alternatives for your loan.
On other portals, the self-employed are often only recommended regular loans where there is a correspondingly poor chance of success.
The award of an installment loan today is based on a standardized, industrialized lending process. This process provides for a maximum streamlined collateral check. An integral part is the salary assignment as collateral. And here lies the crux for self-employed, they can not present this assignment.
The self-employed do not always need a working capital loan, sometimes it is also the private sector where money is needed. Whether it is that a new car is needed, be it that a new kitchen is available, sometimes it requires funding.
It does not matter if the income is bubbling. The examination of other collateral goes beyond the framework of the lending, so the argumentation of many credit institutions. Very few banks are prepared to offer a self-employed installment loan and to run the burden of checking collateral.
Requirements for an installment loan
However, banks willing to lend to a freelancer or trader apply narrow criteria. Depending on the bank, the activity must be carried out for two or three years and a corresponding profit must be made. As collateral, the classic things such as the assignment of life insurance, the transfer of security from the car letter or the entry of a land charge for home ownership in question.
In addition to the last two or three income tax assessments, the current BWA must also be submitted in some cases. However, the number of banks that actively offer loans for new self-employed can be counted on one hand.
Loan for the self-employed
As an alternative to bank lending for self-employment, loan portals for loans from private to privately owned self-employment offer a chance to borrow. Here it is not crucial that the borrower can offer a salary assignment. Rather, it is important that he presents himself and his project to be financed as transparently as possible. The platforms themselves take the credit check and classify the applicant in terms of classification. On the one hand, this classification justifies the interest rate to be paid and, on the other hand, it gives the lenders an indication of the credit default risk. In the rarest cases, an investor alone takes over the entire financing. Rather, it is common for multiple investors with small sums of money to cover the loan. We would like to briefly introduce the most important providers here:
trucredit is certainly one of the most well-known credit marketplaces. According to its own statement for 50 percent of loan applications found within two hours, the lenders. The maximum term of a loan application is 20 days. Loans are available from trucredit in a range of between € 1,000 and € 25,000. Prerequisite for a loan is the legal age of the applicant, regular income and a residence in Germany. Loans can also be applied for with negative Private Credit. However, tough criteria such as an arrest warrant or ongoing bankruptcy rule out a loan application.
trucredit classifies the applicants into eight credit categories, which then have an impact on the interest payable. The fee for trucredit is uniformly 2.95 percent of the loan amount. In addition, there are monthly costs of 2.50 euros for the PAR Bank, which accompanies the repayment of the loan to the investors. An early repayment of the loan is possible at any time, but in this case PAR Bank demands a prepayment penalty. Loans via trucredit are reported to the Private Credit.
creditity, based in Berlin, is from Rocket Internet. creditity performs both a Private Credit request and a Private Credit message when the loan is made. creditity offers a multi-level certification process. This allows borrowers to choose how much they want to reveal about themselves. The best chances of a loan commitment are inevitably those who go through the entire program.
Prerequisite for a loan by creditity is the legal age of the applicant, a residence in Germany, regular income and an account with a German bank. The fees for creditity range between 0.25% and 5%. They depend on the creditworthiness of the applicant and the duration of the loan. An early repayment is possible at any time without further costs.
We do not recommend creditity anymore.
Acrossbank, also based in Berlin, has only been on the market since 2014. The company is internationally oriented and offers its service in other countries. Acrossbank loans can be applied for between 1,500 euros and 30,000 euros. A residence in Germany is not a requirement. However, it must be resident in one of the countries where Acrossbank works. At maturity, the borrower has no individual choice. The minimum duration is twelve months, the maximum term five years. The gradation is only possible annually. The interest rate is determined by the applicant’s creditworthiness and the term of the loan. The credit rating is based on an internal scoring at Acrossbank. The same applies to the processing fee, which ranges between 0.25% and 5% of the loan amount. The payout and repatriation is carried out by the partner bank biw AG.
We do not recommend Acrossbank anymore.
State funding instead of loans
If you want to start your own business and need money for it, you can apply for it in case of unemployment at the employment agency. Entitlement to the start-up grant exists if the claimant continues to receive ALG I for at least 150 days.
Prerequisite for the grant is a viable company concept, which verifiably ensures the existence of the founder. The applicant must demonstrate both his professional and personal aptitude for self-employment. Examples would be loans for a store opening, if necessary with oof renovation, agricultural machinery such as tractors, a loan for the establishment of a taxi company, training and study
Amount of promotion
The funding consists of two parts. On the one hand, the company founder continues to receive his ALG I. On the other hand, he receives a monthly social security contribution of 300 euros. This first phase is aimed at a period of six months. Thereafter, a re-evaluation of the self-employment is carried out by the Employment Agency. If the previous freelancer activity has proven to be successful, the support will enter the second phase. However, this only provides for the assumption of the social security contribution for a further nine months. The amount remains unchanged at 300 euros a month. The amount of the start-up subsidy is remarkable. This can amount to up to 18,000 euros in total. Unlike a loan, it does not have to be repaid and is also tax-free.
Loans also for small businesses and ancillary trades.
A loan for self-employed with immediate promise (only freelancers) offers the netbank. The other providers presented above usually decide very quickly and pay off within a few days.
Without Private Credit / Without proof of income
A loan for self-employed persons without Private Credit information or without proof of income is only possible with specialized providers of loans without Private Credit examination. The best providers can be found here.
Loans for the self-employed in the test
- Is Iwoca reputable? Test.
- Postbank Business Credit
5000, 10000, 20000, 25000, 3000
- 1000 Euro
- 2000 Euro
- 3000 euros
- 5000 Euro
- 10000 euros loan for self-employed
- 15000 euros
- 20000 euros
- 25000 euros
- 30000 euros
- up to 120,000