Even if the choice of financing options for the self-employed and freelancers seems quite large, taking out a loan turns out to be quite complicated in the end. Banks and savings banks attach great importance to collateral and sureties, which as an independent worker can sometimes not be provided at all.
It becomes even more difficult if a loan is sought for the self-employed despite without credit rating. Because even if credit rating does not match, the creditworthiness is usually so bad that there is no creditworthiness.
So it works anyway
A loan for the self-employed despite without credit rating is not found in any traditional bank. They will never refrain from asking credit rating. Even a loan from abroad cannot help here, as it is only granted to employees and civil servants.
It’s possible to get approved for a personal loan when you’re self-employed, but lenders will likely put your finances under a microscope to make sure you earn enough income to keep up with payments.
One possibility is a personal loan.
This is granted by private donors who want to support and strengthen a company with their investment. In order to be able to benefit from such support, as a prospect you have to be able to show exactly what the money is so urgently needed for. Similar to traditional borrowing, a business plan should therefore be drawn up that not only shows the company’s previous strengths, but also gives an outlook into the future.
If you can convince and find a private investor, there should be nothing standing in the way of a loan for the self-employed despite without credit rating. However, even then you should not be tempted by the first offer. Despite the great euphoria about the loan, the conditions should be looked at very carefully. In particular, the interest and the repayment conditions should be such that you can live well with the loan. Because even a private lender wants to have his money back at some point.
And if you then cannot pay, the debt trap and a lot of trouble are inevitable. Things that you certainly want to avoid and that can be avoided without problems if you approach the borrowing with sense and understanding.