Self-employed credit – offered by the bank
It is very difficult for the self-employed, freelancers and commercial operators to get a normal loan. Banks always prefer to give a loan to people who have a permanent job and can therefore prove a regular work income. Loans have been made more difficult due to the introduction of guidelines on customer ratings, which German banks must adhere to when granting loans.
The default risk for the loan repayment is determined here based on income and personal circumstances. Despite existing income, the banks describe the default risk as much higher, because according to the banks it is not secured. If banks grant a normal loan, this can only be obtained with a very high interest rate or only if certain collateral can be offered to the bank.
Remedial measures can be taken with special loans for the self-employed.
Advantages of a loan for the self-employed Special offers are aimed at the self-employed and freelancers, the loans for the self-employed. However, this product is only offered by a few banks and service providers. Here, borrowers can benefit from the advantages of getting a loan that has a comparatively low interest rate and that does not require the banks to be given high collateral.
Offers from the individual providers can be found in a credit comparison. Here, customers should pay particular attention to the providers who advertise self-employed with labeled loans.
These banks or providers partially circumvent the rating requirements because they cooperate with foreign banks where other requirements apply. But German banks that specialize in lending to the self-employed can also grant good loans at low interest rates. A loan for the self-employed is always subject to lower interest rates, since a loan offer has only been developed for the self-employed and freelancers. Services provided by the loans for the self-employed When choosing the right provider for a loan for the self-employed, a lot should be borne in mind so that it is not too expensive.
Other types of credit
The interest should be given in a framework that can also be found with the other types of credit. Depending on the amount of the loan, the desired term and also on the individual circumstances, the loan costs are made very different at the providers.
If some providers with comparatively low interest rates can emerge from a comparison of providers, it is only possible with another bank to get a loan with twice as high interest rates. Depending on the creditworthiness of the borrowers, the interest rates at many providers will be adjusted.
In addition, there are always additional costs for loans for the self-employed. Extra costs are payable, especially for offers that foreign banks pass on to borrowers. In addition to the processing fees or the closing fees, credit intermediaries will still incur commissions that make the loan for the self-employed more expensive than other loans.
A comparison of providers, in which all services and costs can be viewed down to the smallest detail, should therefore be used by all self-employed and freelancers. A loan can also be found for these groups of people, which need not be overpriced.