Anyone who has tried to apply for a loan from a bank as a self-employed person or freelancer found that this is not always easy. Even with a flawless Credit Bureau, getting a loan is not easy. In addition to the greater effort involved in checking the creditworthiness, banks also shy away from the higher risk that exists for a loan for the self-employed.
As a result, a loan for self-employed persons with a negative Credit Bureau at a bank is usually not available. However, if you urgently need a loan, you have other options than to contact a bank.
Obtain the credit for self-employed with negative Credit Bureau from private individuals
In addition to banks, there are also private individuals who provide funds for a loan. The contact between the borrower and the lender is established via various mediation portals. If you need a loan, you can register on such a portal and submit your loan request there. Individuals have different requirements when it comes to lending than, for example, a bank.
If the borrower has sufficient turnover from his trade, a loan for self-employed people with a negative Credit Bureau is quite possible. Depending on the portal, the borrower can freely negotiate the terms with the lender. He also has the opportunity to formulate his loan request precisely and can thus convince a potential lender of his project. The payment is then made via the portal, which also takes over the collection of the installments. So there is no direct contact between the borrower and the lender.
A solvent guarantor can also help
Another way to get the loan for self-employed with negative Credit Bureau is to include a guarantor in the loan agreement. The latter must have a regular income so that they can service the installments in an emergency. The guarantor’s creditworthiness must also be impeccable and there must be no negative Credit Bureau entries.
Lite Bank credit for self-employed with negative Credit Bureau
In the event that an investment is to be made with the money raised, a loan from Lite Bank-Bank may also be possible. The Kreditanstalt für Wiederaufbau offers various programs for companies and the self-employed. These loans offer particularly low interest rates and also have moderate repayment options. For example, there is the option of repaying the loan for the first five years.
During this time, only the interest has to be paid. However, the loan cannot be applied for directly from the Lite Bank. This is only possible through the house bank or another bank that works with the Lite Bank. However, the conditions are generally much more moderate than if the bank granted the loan directly.