Loans for the self-employed – News, benefits and how it works

how to get a loan

Especially self-employed people have a hard time applying for a loan today. Luckily, there are many banks and credit institutions that specialize in self-employed and business loans .  This means that you can conclude a self-employed loan directly on-site in a branch or even with a trustworthy, experienced partner online.

It is usually easier for workers to apply for a loan directly from a bank or online. The necessary financial guarantees , including a monthly salary, are guaranteed. For self-employed, the case is different, which then also requires a special approach.

Difference between private and corporate credit

Small loans for the self-employed, which are used for private purposes, are usually not a problem dar. If you apply for this at the house bank, so can usually be found with the bank consultant of trust, a satisfactory solution. By contrast, the situation is different for corporate loans used for business purposes. These require other prerequisites to get a positive loan commitment. Here are some important points about business loans:

ABC and DEF are required

Among other things, banks require a business evaluation, ABC for short. It can be prepared by a tax accountant and provides a detailed breakdown of costs and revenue. The data that can be found in it is based on the current financial data of the accounting department.

Furthermore, when applying for a self-employed loan, DEF is required, the totals and balances list. This is nothing more than a business account overview. This gives credit institutions an overview of the movements that have taken place on the business account since the beginning of the year.

Additional funding opportunities from the state

Additional funding opportunities from the state

Also from the state side there are one or the other way to obtain loans . These require different prerequisites than personal loans for the self-employed. Worthwhile in this context are the state-subsidized loans, some of which are offered.

Ideal as state-subsidized credit for companies, except business start-ups, is offered by the KfW (loans for founders). These credit offers are characterized by low interest rates, which usually start at 1%. You can choose between different models and determine the loan amount flexibly. Thus, loans of several millions can be realized in this context.

Thoughtful business plan is important

Thoughtful business plan is important

Whether investment or business start-up loan, a business plan is important to have success as a self-employed loan application. One of the essential points that must be included is the business idea. This should be clearly visible and understandable. Especially when starting a business you should outline the potential target group.

Another important factor is of course the possibly existing equity , which can be used. It is often the case today: the higher this turns out, the greater the chances of getting a loan for the self-employed.

When creating the business plan, you should also attach great importance to the quality. A clear structure is important and decorating details should be avoided if possible. It is better to put the corporate and sales strategy in the foreground. This includes a realistic assessment of the success that can be achieved with the company or the new business idea.