With Fine Bank, it is not the bank but private investors who decide whether a loan is granted to the self-employed or not. Anyone looking for loans for the self-employed will find many loans from private individuals in addition to the cheap installment loans from online banks. Freelancers and the self-employed sometimes find it very difficult to get a loan from well-known banks to implement their business plans. Fine Bank also works in a similar way to Agree Bank and offers self-employed people the opportunity to obtain a loan from private individuals. Fine Bank has established itself as an alternative form of financing for founders, young entrepreneurs and freelancers in recent years.
You can find cheap loans for employees and the self-employed at Fine Bank.
This affects not only the purchase or the conclusion of insurance policies, but above all also loans. Since credit conditions often differ significantly from house to house, a comparison of creditworthiness is essential. Especially if a large part of the loan is to be repaid in small tranches over a longer period of time, every decimal place of the interest is important.
Even small interest rate differentials can drive up the total cost of a loan. For lending, it is important that lending to customers is done. Of course, it is not the nominal interest that is of interest in the binding credit comparison, but only the (higher) effective interest. It reflects the effective credit costs because it not only includes the credit fees, but also the payment method of the tranches, and thus compares the different credit terms.
Of course, there are not only loans for employees with a regular salary, but also for the self-employed, whose salary often has large fluctuations. The discontinuity of income is also reflected in increased interest rates, so that the credit rating comparison pays off even more for the self-employed than for employees. For self-employed people, however, there are not only different interest rates, but also slightly different award criteria for bonds.
There are also some credit institutions that only provide freelancers with credit, e.g. doctors, lawyers or architects. Artisans like retailers often have fewer options to compare when looking for the cheapest loan. Of course, it always depends on the individual creditworthiness of the self-employed. In general, however, it is always necessary for a loan to the self-employed that the self-employed activity must have existed for a longer period, usually for more than three years.
This ensures that the self-employed has already made a name for himself in his business area, which means a lower risk of default for the house bank. Take out your personal loan now! Personal to personal loans! Rent cash from Private with Fine Bank.com.
Restricted credit options for the self-employed
The self-employed have considerably more problems with borrowing than individuals and employees due to the irregular wages and the increased risk of default. However, the self-employed are often more dependent on loans due to their entrepreneurial activity. As a rule, the self-employed are dependent on loans. Regrettably, there are only limited loan options for the self-employed. This includes having sufficient security and own funds to address conventional credit institutions and ski banks for loans.
However, this is out of the question for most, as it could give a negative picture of the company and the self-employed. But some have already chosen this path for their foundation or want to avoid it for important reasons such as the splitting of funds and friendships or family members.
Fortunately, there are now more and more specialist providers who recognize the special needs of these borrowers and supply them with special offers. On the one hand, there are special financial institutions that are particularly well acquainted with the special features of loans for the self-employed and craftsmen and, in contrast to low-risk private banks or commercial banks with a purely medium-sized business focus, can carry out a separate assessment of the self-employed and their business.
They recognize opportunities in which the credit institutions only recognize the risk and ultimately support the self-employed in pre-financing their orders or realizing an investment. On the other hand, the principle of swarm financing, the so-called crowd finance / crowd lending or peer-to-peer lending (P2P – lending), has finally been introduced in Germany in recent years and is particularly open to self-employed and small traders with interesting business opportunities and promising contracts.
Depending on the model, several donors, mostly private individuals or professional investors, finance the entire loan amount for the self-employed. Our service provider for P2P loans for the self-employed: Fine Bank is the first in Germany. Fine Bank has operated a marketplace using the peer-to-peer loan financing model since 2007. The focus is not only on the self-employed, but also on credit from private to private.
However, private loans for the self-employed were launched early on, which is why Fine Bank is the market leader for P2P loans in Germany today. Self-employed people can submit a personal loan here. The operator Lite Lender is something new in mass financing for individuals and the self-employed. It is also a trading center that enables private and commercial investors to invest in loans from private individuals as well as from the self-employed and small businesses.
The Lite Lender marketplaces have only been on the job market for a short time, but have already received the Binary Lender Award for the best credit marketplace in 2014 and the best P2P loan in 2014. In contrast to its predecessors, this service provider is exclusively geared towards independent and medium-sized companies. Self-employed people who have larger projects and a long history and are looking for a financing option can also submit a loan here.
But here, too, the funding is based on a vibrant marketplace, on which both private and commercial investors can get involved in projects and companies and thus co-finance the loan amount. Complete the Independent Loan Support Group here! Of course, you can also do a credit comparison over 1000 – 120,000? check for self-employed at online providers.