It is no secret that self-employed and freelancers find it particularly difficult to get credit. Many banks do not even offer credit for business but exclude this target group from the outset. Only a few bank such as the Tinerbell, Malfoy or the Gandalf offers a loan for traders. Where the Gandalf selects among the traders only very specific industries, which are given the opportunity to get a loan for self-employed.
So, when it comes to a business loan, they will first go to their bank first, because that’s where they promise the most. Although this way can be the one that is associated with the least amount of effort and also promises very good chances of success, but self-employed should not sit alone on the house bank. Cheap financing offers may also be available from other banks.
A credit comparison helps
As the processing of loan inquiries by independent credit applicants always takes considerably more time than with private customers, it makes sense to have several offers created in parallel. The documents required for processing such as business evaluation, income tax assessment and authorization to provide bank information are quickly copied and faxed. At the house bank you pass personally, then it is time to wait. The processing times at
Financing for traders can take 14 days. If the offers are available, the best financing offer can be selected from these.
If the loan should be for business purposes for private purposes
If self-employed and freelancers need credit, it does not necessarily have to be for business purposes. So it is quite possible that the loan should be used for the purchase of a private car or for furniture or other consumer goods. If you have a partner or are married as a self-employed, the loan application should always be made together. This increases the chances of success and better conditions.