The self-employed are free, independent and can organize their work in the way that suits them best. Of course, the leap into self-employment is associated with many financial risks. How can the construction of the business be financed? What if something goes wrong? All these questions have to be solved by the self-employed – ideally before the permanent job is given up. If you want to start your own business and need start-up capital or are already self-employed and want to expand your business, you can take out a loan. Of course, the borrowing is also worthwhile for private purposes, for example, if you want to buy a new car or a luxury trip.
In principle, self-employed persons are more difficult to borrow than employees who are in permanent employment. Many banks are of the opinion that the self-employed have an insecure job and can become insolvent faster. For this reason, banks require that you have been self-employed for at least 2 years and have a good business record. If you are constantly in the black and your business is not performing well, lending is likely to be bad. You have better chances of getting a loan if you can provide collateral to the bank or appoint a guarantor to pay for your debts in an emergency.
Financing for the self-employed
Since not all banks and deals are the same, you should definitely make a loan for self-comparison to find the best terms. On the Internet, such a comparison takes only a few minutes and is completely anonymous. If you have found a good deal, you can apply for the loan online. No long waiting times, no annoying bank visits – on the internet, your dream will finally come true. Of course, it is important to look at the loan for self-reliance not only on low interest rates but also on generally favorable terms (eg long term, low monthly installments).