Loan for self – employed for debt restructuring.
Those who are self-employed often have to deal with various financial difficulties. Wages have to be paid on time and a wide variety of materials for production or processing are required. Running costs such as credit installments also have to be met on time. Loans for self-employed people for debt restructuring are not easy to obtain from the banks.
The first point of contact for the self-employed should be the house bank
Debt restructuring pays off for the self-employed and freelancers whenever a current loan has a higher interest rate than the targeted loan. Overdraft facilities in particular are charged with high interest payments, usually even quarterly. However, it is not easy for self-employed professionals to obtain a loan.
Banks cannot demand salaries to secure the credit for self-employed persons and must therefore rely on the turnover figures of the past months and years. In many cases, however, the business owner’s house bank can help. In many cases, the house bank is also the company’s commercial bank.
With years of positive cooperation, there is nothing standing in the way of a loan for the self-employed to reschedule debt if the conditions are favorable. However, business owners should take into account that business loans should only serve the company’s debts. Conversely, a personal loan must also be used privately.
All loan offers should be carefully examined
A loan for the self-employed for debt restructuring should of course have good conditions and be affordable for the borrower. The cheapest loan providers can also find the self-employed with a detailed loan comparison. Since only the effective interest is shown for many loan offers, the credit provisions should be carefully studied. Provision and processing costs as well as the effective annual interest rate are shown in detail here. Without the effective annual interest rate, accurate calculation of the loan is difficult.
Private credit portals also grant loans to the self-employed
On private credit portals, so-called peer-to-peer networks, loans from private individuals are also given to the self-employed. After registration, a loan project is created and the project is presented in as much detail as possible. The more detailed the loan project is described, the higher the chances for quick financing.
Private lenders can fund the borrower’s project with shares. If the loan project is fully funded, the requested loan is paid out. No proof of income or salary is required on these portals. As the networks work with banks, Credit bureau information is obtained in any case.
Anyone who applies for a loan for self-employed to reschedule should therefore make sure that Credit bureau does not contain any serious entries. The self-employed can be certified on these portals. The certification brings additional security for the credit portal and the lenders. Accelerated lending may be possible.