A cheap loan for self-employed is given by numerous banks or savings banks. In this context, however, it should be explicitly pointed out that not every bank is prepared to examine an application for a loan from a self-employed person or a freelancer.
Too often there is concern that the income of the person concerned can fluctuate greatly or not at all, which makes proper and punctual loan repayment impossible. For this reason, many banks have made it their maxim to only lend to workers or civil servants who can demonstrate regular and secure income.
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There is always a particularly good chance of getting a loan if the self-employed or self-employed person turns to the bank that manages the business account. This bank has a very clear view of how high the earnings are and whether they are likely to be sufficient to make a living, cover the business costs and at the same time pay the loan installments. A very important requirement for borrowing is positive Schufa information. At least there should be no negative entries there. Otherwise, a cheap loan for the self-employed cannot be granted. This applies even if there is a longstanding relationship of trust between the customer and the bank.
Bank grants a loan to the self-employed
If you do not want to contact your house bank with your credit request, but want to contact another German or foreign bank, you can of course do so. Before submitting a loan application, he should not only make detailed inquiries as to which bank grants a loan to the self-employed, but also under what conditions. The interest rates on a loan for the self-employed are often slightly higher than the interest rates that apply to employees or civil servants. In this way, the bank wants to hedge against the increased credit default risk among self-employed and freelance workers.
If you are looking for a private loan broker and looking for a cheap loan there, you should under no circumstances pay any costs or fees before actually lending. If the credit intermediary insists, it can be assumed with great certainty that he is untrustworthy and that there will most likely never be a successful loan brokerage and payment.