As a rule, self-employed persons with a need for financing find it particularly difficult for banks – because the creditworthiness of self-employed persons is viewed more critically than that of employees, because they have a monthly fixed income, which in a way weighs the banks in certainty. With self-employed people, on the other hand, monthly income can fluctuate extremely, and lenders know this too – they are accordingly careful when making their commitments to self-employed loans.
Credit Bureau-free loans from Switzerland
As is well known, employees have the option of applying for Credit Bureau-free loans from Switzerland – however, this option requires that there is actually an employment relationship, so pensioners, students and entrepreneurs are out of the question here.
If you ask a reputable German bank for a loan as a self-employed person, the creditworthiness is inevitably checked, and that includes obtaining Credit Bureau information. Basically, it is not entirely understandable why borrowers are so afraid of Credit Bureau information, because the complete creditworthiness of the customer is always relevant, which is not only reflected in Credit Bureau’s debtor register.
Calculate your loans
It is always checked how high the income is and what expenditure or financial obligations the potential borrower has – the bank does not care if you already have two loans, but your income minus the expenditure is still sufficient Pay credit installments.
Basically, you can easily check your creditworthiness by doing a household calculation that the banks always make when applying for a loan: compare your income with expenditure and thus determine how much capital is available to you each month,
With self-employed people, the company is always closely examined – another way to convince the bank that the loan can be repaid. If the creditworthiness is not sufficient, there are two options: either you have collateral that the bank accepts, or you try to get a guarantee.
The self-guarantee and the default guarantee are available for the self-employed – the latter are offered by the guarantee banks of the federal states and represent a good opportunity for the self-employed to obtain a loan despite poor creditworthiness.