Credit for self-employed

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Being self-employed, running a business or working as a freelancer – this has a lot of advantages. You are your own boss, determine your time and your money. But exactly when it comes to money, self-employment can also be difficult. Especially when it comes to your capital and possible credits or loans. Because banks usually prefer to see a secure income than self-employment. Your suitable loan for self-employed you find with MONETOS. How to do it, you will learn here.

Your benefits at MONETOS

  • At MONETOS all questions about your financing are answered very easily – so that not only experts understand what is going on
  • Our loan comparison shows you in just a few steps which loan suits you best
  • Once you've found the right loan, you can apply for it right away – all digitally and instantly!
  • For all other questions about your credit as a self-employed person, you can simply call us. We can be reached at 0800 2233002 from monday to sunday, 8 a.M. To 8 p.M., and will help you quickly and free of charge

Step by step to your loan for self-employed persons

MONETOS shows you how you can easily get your loan:

With the MONETOS loan comparison you have the full overview. Just give the most important info like loan amount, term, intended use etc.
In order to receive individual offers it is necessary that you provide some information about your income and expenses. Annoying, but that's the way it is! And still a thousand times more relaxed than bank branches abklappern! Then you immediately get real offers with top interest rates – individually tailored to you!
Be sure to use the account view and save even more money and time!

Look at the possible loans now and choose the best loan for you. How high are the interest rates? What monthly installments do you have to pay? If you still want expert advice, call us on 0800 2233002 after all, you want to make the best decision.

Even now everything goes digital. You can be identified by videoident procedure. You can even sign the documents digitally. And soon the money is on your account.

You want to realize yourself?

We have your money for it!

What are the requirements for a loan for self-employed persons??

It is not so easy to get a loan as a self-employed person, but it is not impossible. If you consider and fulfill the following factors, nothing should stand in the way of your loan!

If you do NOT have a good credit rating, it will be difficult for you. So hopefully you have always paid your bills on time in the past. You should always check your SCHUFA record before you take out a loan.

You must have your first residence in germany and a german bank account

Your income as a self-employed person will not convince the bank. So offer collateral. Usually this is real estate or term life insurance.

You have to be at least 18 years old, because then you are fully capable of contracting a business.

In order for the bank to be sure that you will repay the loan, they will need to see that you have a regular income and an existing employment relationship. So have your proof of income ready.

Why do self-employed people have such a hard time?

Despite all the advantages of being self-employed, you will have a slightly more difficult time than an employee if you want to take out a loan. Why is that?

1. Your uncertain income

If you are employed, you will get your salary every month on your account. And this is always about the same. Banks love that. As a self-employed person you cannot give such a guarantee. Even if things are going well, you don't know if you will have the same amount of money in a few months. This is a risk for the banks.

2. The income is not a security

The uncertain income situation of the self-employed not only ensures that banks are afraid of payment defaults. In addition, income is also not accepted as possible collateral.

3. It depends on the industry

Some industries are particularly affected by banks' reluctance to invest. So it may well be because of your industry that lenders have been skeptical so far. Other professions might have more luck here.

How to save money on a loan for start-ups

Compare loans online

If you only go to your local bank for a loan, you'll almost certainly miss out on a much cheaper offer from another bank. It is therefore worthwhile to use the MONETOS credit comparison. How to get the best overview of online and direct banks as well.

If you can bring in other collateral, you should do so. So you increase your chances of getting a loan and maybe even negotiate a better deal.

Perhaps there is the possibility to include a second borrower in the loan agreement. This way the risk is spread and also the bank is calmer. So you almost always get a loan and above all cheaper, than alone!

If you already have a loan but are being eaten up by interest rates, you need a debt restructuring. The old credit is replaced by a new and better one. How this works exactly, we explain in the article "debt restructuring – pay off your expensive loans!"