The self-employed and freelancers often have to struggle with their poor creditworthiness when lending. This does not result from poor payment behavior, but is made up of their irregular income. They pose an increased risk for banks, so that lending is slow or non-existent.
The self-employed and freelancers have the option of a loan. You have to prove your creditworthiness. This can be done through a high financial contribution to the desired loan amount or through a business evaluation. Income and expenses are listed over several years in order to identify a trend in business development and to explore the possibility of repaying the loan amount.
Self-employed people do not necessarily have to obtain a loan from a bank. A loan for self-employed persons without a credit check can be a per-to-peer loan, also called P2P, C2C (customer to customer) or B2B (business to business), via the Internet from several private individuals. Donors who want to increase their assets throw smaller sums than investors into a common pot. P2P loans can be applied for conveniently from home.
As a rule, private donors require a business plan or annual accounts as security. Some have to be convinced of the prospects of success of the business idea. As with an installment loan, the loan amount must be repaid in monthly installments. Self-employed people as borrowers benefit from the lower interest rates. The investors, on the other hand, gain from a high return. The loan amount can be up to 25,000 USD. The term is freely selectable and currently has a maximum of five years.
Some direct banks provide credit for the self-employed without a credit check online. The most favorable conditions of the direct banks are determined with a credit comparison. The following conditions must be met before lending to self-employed persons without a credit check:
Loans for the self-employed from direct banks are usually granted without a fixed purpose. With them, the overdraft facility can be rescheduled or a purchase made. Dedicated loans, such as to finance a car, can be characterized by low interest rates. You will be shown separately. Up to 84 months can be chosen for the term for loans from direct banks.
With a loan without Credit Bureau, the creditworthiness takes a back seat. For this, the lenders charge very high interest rates for a loan for self-employed persons without a credit check. They are usually in double digits and in some cases even higher than the interest on a credit line. The self-employed must above all pay attention to the seriousness of the donors. If fees are charged before the loan is approved or it is only possible to contact an expensive advisory hotline, increased caution is advised. Reputable loans contain all the credit-determining factors, term and also the total cost of the loan.