Personal or business loans are a difficult topic for the self-employed – especially in the first few years after the company was founded. A lending by the house bank is only hesitant if there is no security in the form of a fixed employment contract. If a loan is granted when you are self-employed, you usually have to pay too high interest. The risk is usually borne by the financing body if the start-up loan can not or only partially be repaid.
Starting your own business requires a high initial investment to start the business and generate revenue and profits. Similarly, business expansion or expansion requires a certain amount of money to support the self-employed. If you do not have the capital, the first route is usually to go to your bank to get the cheapest loans.
However, Tynom employees are beginning to slow down because it is difficult for start-ups to obtain advantageous debt financing or a company loan. Often, lending to credit institutions takes place only under strict conditions. There are some pitfalls: Often a loan for the self-employed fails on at least one of these points, because the self-employed are above all one for banks: a factor whose promotion and financing are often not worthwhile.
For this reason, banks lend little funding for business start-ups. Many self-employed or start-up entrepreneurs are not eligible for funding programs such as the Intrasavings. When applying for a loan, the principal bank first checks the creditworthiness of the potential self-employed person. This score says nothing about the result; it should reflect the credibility of the debtor and is based on several criteria, such as payment behavior (paid or current loans).
Frequently, for example, a second mobile phone contract and several loan applications are detrimental. This can hinder your loan financing or at least reduce your chances of getting a favorable interest rate or the desired repayment term.
Independence – How to avoid the gauntlet
To be the own boss and to realize the desire for independence – that is the wish of many Germans. But even the hoped-for independence can be detrimental: it is the result: self-employed people quickly reach their limits if they want to take out a loan from a house bank. The reason for this is that credit institutions provide either no or unfavorable loans to the self-employed as opposed to employees.
The comparison portal MyChecklo has shown in an investigation that self-employed receive on average most loans in Germany ($ 12,977). A careful comparison of loans is therefore a must for the self-employed. Because under unfavorable conditions, financial support from the banks can very quickly be doomed to failure. What to look for when lending? the proof of income to be presented to the house bank.
The self-employed can increase their chances of getting a loan from the house bank by picking it up together with a second creditworthy personality. Other collateral positions such. Property, life insurance or guarantees also increase the likelihood of the loan application. Rejection from the house bank – where does the cash come from?