When granting a loan for freelancers, the banks look closely: can the applicant afford the financing? Is there an increased risk that the installments will not be paid on time? We will find the provider for whom you have the best prospects – free of charge and without obligation. Who actually writes and advises here? About us.
This is a loan for freelancers
Banks often classify a loan for freelancers similar to financing for private individuals, because freelancers only have to pay income tax – just like private employees.
On the other hand, there are advantages in terms of the probability of acceptance: the banks know about the financial peculiarities of freelancers and have tailored their acceptance criteria to this target group. Your advantages with transparent-beraten.de
✔ Optimal market overview
✔ Sound specialist advice: we take the time for you!
✔ Non-binding and free use of the credit comparison Please note: A loan for freelancers is only granted by the banks if they have the appropriate creditworthiness. If you fear problems at this point, you can use the comparison calculator above and provide your information – free of charge and without obligation.
A credit specialist from our cooperation partner smava will then contact you and, if necessary, suggest an offer that increases the chances of approval. Freelancer or self-employed? A self-employed person can either work as a freelancer or as a trader. “Self-employed” is therefore a generic term, which also includes the freelancer.
Legislators attribute “special professional qualifications” to the trader, as well as the provision of “higher quality” services. He has to pay trade tax while the freelancer only has to pay income tax.
A self-employed engineer with appropriate professional training is often classified as a trader. Freelance work includes, for example, self-employed scientific, artistic, writing or engineering activities.
As a rule, the tax office decides whether someone is to be classified as a trader or as a freelancer. (If necessary, also note the credit for self-employed.)
Apply for a freelance loan in three steps
In three simple steps, freelancers apply for financing via Good Finance.
1. View offers, provide information
2. Choose a loan, check the selection together with a loan specialist
3. Submit documents, register receipt of payment
Step 1: Enter the desired loan amount, the desired loan term and the purpose. You will then see a first overview of the market. In order to receive offers that you can actually get under the conditions mentioned, you must provide your personal information in the following application process. This is necessary because many loans are granted depending on creditworthiness. Without the information, the credit rating cannot be determined.
Step 2: In the second step you will receive concrete offers that you can receive on the terms mentioned. A credit specialist will then contact you by phone to a) discuss the necessary documents with you and b) suggest an even cheaper financing if necessary.
Step 3: Once you have decided on an offer, submit the necessary documents to the bank. B. a post office the correctness of your information (via the so-called PostIdent procedure) and expect the receipt of payment to the account you specified.
This is why freelancers have problems getting a loan
Before banks approve financing, bank employees try to determine as accurately as possible whether the borrower is able and willing to pay the monthly loan installments on time and in full.
The borrower is “able” if he has sufficient financial means not only to pay the loan installments but also to meet all other obligations.
Whether the borrower is “willing” is determined based on his payment history in the past. If he has always paid his bills on time and in full, this is an indication that he will continue to pay his liabilities in accordance with the contract.
However, freelancers have to deal with irregular incoming payments: their customers sometimes only pay their bills late or in installments. This is a problem for the approval of a loan, because the verifiable income is decisive for the approval of a financing!
If freelancers can show little or no incoming payments, the clerks of the banks initially assume that the borrower will not be able to pay the loan installments – even though the order books may be full. The advantage of target group-specific loans The banks that offer a freelance loan know that your customers are dealing with this situation. This is taken into account when approving financing – of course in favor of the borrowers.
You should pay attention to this before borrowing
The banks check the creditworthiness with the help of Schufa, Germany’s largest credit agency. Schufa determines a so-called Schufa score for every consumer and every self-employed person in order to summarize the creditworthiness in a single value. This score is composed, among other things, of parameters that the borrower can influence.
Before applying for a freelance loan, applicants can review whether you can improve their credit rating.
- Repay current loans – If loans that have already been applied for are repaid, this increases the monthly disposable income on the one hand and signals to the bank on the other hand that financial obligations are handled with care.
- Avoid disposition credit – If the overdraft facility is used regularly, the bank or the credit agency suspects that the financial means are often insufficient to meet everyday obligations. In addition, the use of overdraft facilities can also be understood as an indication that the applicant treats his financial budget rather carelessly.
- Avoid credit cards – Anyone who owns more than one credit card – and has several or possibly all open payment obligations – is suspected of being rejected more often when making credit inquiries. Background: Credit cards are usually quite expensive and are only used in urgent cases – for example, when banks have refused a loan.
- Settling open bills – Many open bills or late payments are seen as an indication of poor payment behavior.
Creditworthiness can determine the amount of interest! Please note: Many types of financing depend on creditworthiness. This means that the amount of the loan interest depends on the creditworthiness of the applicant. The following applies to these offers: the better the creditworthiness, the cheaper the loan.