It is not easy for the self-employed to apply for a loan. The problem is that they have no regular income and the banks have a hard time assessing the risk of default. It is no different with a small loan.
Small loan for the self-employed
Self-employed people also get the chance for a small loan. If you have been self-employed for a long time, you can prove the corresponding sales figures and profit and loss accounts. The bank uses these documents to check whether a small loan is possible for the self-employed. Private credit checker is also checked for the self-employed. If there are no complaints there, the loan seeker has a good chance of success. If the bank refuses a small loan, there is still a way out. The solution is private credit.
Online bank is an internet portal on which private individuals have organized themselves in order to lend money to other people. Of course, they don’t do this out of philanthropy, but want to achieve higher returns on their savings than with the usual forms of investment. They achieve this goal through higher interest rates, because those who apply for a loan here do not get the interest rate prescribed, but can propose it themselves.
In most cases this is higher than that of the banks. Self-employed and freelancers in particular are very welcome here. Nevertheless, the investors want to be safe from default and therefore query the applicant’s Private credit checker. With negative entries there is no money on Online bank either.
Every self-employed person has an overdraft facility on their private checking account or business account that they can use. This overdraft facility can be used for small amounts of money that are only required at short notice. There is no other option for a small loan for the self-employed.
A Swiss loan is also out of the question, as it is only reserved for employed persons. The last way would be a financial service provider who could broker such a loan. In some cases, they even specialized in freelancers and the self-employed, so an inquiry could be successful.