It’s not just the self-employed who have the problem of getting a loan. Freelancers are also affected and it is not uncommon for the bank to send them home unsuccessfully. Freelancers cannot prove a fixed income and are therefore considered a risk group when lending.
In contrast to the self-employed, you do not need a business license and therefore do not pay any business tax. But you have to prove income tax and that’s where the borrower can score. With this document, he can prove a certain income, even if it can fluctuate from month to month.
Borrowing is not impossible
Freelancers shouldn’t let themselves get away as quickly and stubbornly pursue the goal of applying for an online loan for freelancers. There are certainly more than a million in Germany who are freelancers and this group of people also has to take out a loan here and there.
And many of them earn very well and have a higher income than an employee who works in the office. For this reason, you should specifically look for an online loan for freelancers.
Direct banking opportunity for a loan
Direct banks in particular have recognized that freelancers are also very good customers who meet their payment obligations. So there is a good chance here to apply for an online loan for freelancers. Freelance work should have existed for at least two or three years. This is the only way to prove that the freelancer can get by in his job and earn enough money. A statement of assets should also be provided so that the bank can check how much money is available.
Furthermore, a business evaluation and the latest account statements are required. The bank can see how much money the account has received in recent months. All of this is very time-consuming, but it is rewarded with an online loan for freelancers.
Loans for freelancers are often expensive
An online loan for freelancers is often a little more expensive than a normal loan. This is because banks are paying the increased default risk through higher interest rates. Banks want to keep the risk as low as possible and of course want their money back. You should pay attention to the interest rate before signing a loan agreement. Another offer may be cheaper, which can be found out by comparing the loans.
If you do not have a very good credit rating, you can take a second borrower aside who signs the same contract. Then the bank has two incomes and two borrowers who are responsible for the rates of the loan. This security is often rewarded with lower interest rates, so there won’t be too much cost.