Admittedly, getting a loan when you are self-employed is not one of the easiest tasks. This is by no means impossible. Provided you have a few requirements.
The classic variant – banks and savings banks
These conservative funding options are among those where you have to have a few prerequisites to get a credit line approved. The main ones are:
- a positive balance of the past three years
- a promising business idea that makes an investment plausible
- Collateral that is required by most banks and credit institutions even if the balance sheet is positive
However, exceptions confirm the rule. Due to the tough and ubiquitous struggle of credit institutions for every potential customer, these loans now also offer loans to customers who are self-employed. However, this always depends on the respective banking policy. The most important of these loans are:
- Entrepreneur loan
- Debt rescheduling loan
- Loan for craftsmen
- Small loan for individuals and suppliers
- Loans for start-ups
- Investment loans
A prerequisite for these forms of credit is that you can show a really conclusive and brilliant concept. This is best represented in the form of a business plan with the associated financial projections. Now it may be that many, especially those who are currently in the initial phase, have a certain respect for such a business plan.
But it should not fail at this. Because even if you do not see yourself able to write such a person, there are still enough service companies that create such a business plan. An investment that is truly worthwhile is usually the first hurdle that can be overcome despite everything.
The exceptions to the rule
Banks and savings banks generally have a little more difficulty with so-called risk companies. These include companies that are active in the field of gastronomy and car trading. Any exceptions to this are those companies that already have a positive balance.
The conditions for the self-employed – that is to be expected
Assuming the case that you want to become self-employed with a company for the first time, you also need a business plan here. The most important thing for this is that it should be as realistic as possible and therefore as professional as possible.
If this then also includes a really sparkling and coherent business idea and there may be certain security, there is hardly anything standing in the way of a loan. Nevertheless, you have to be prepared that such a loan comes with different terms than, for example, a loan for a house. Which are there:
- higher interest charges
- increased security requirements
- Submission of the balance sheets
- at least 3 years of self-employment
- no affiliation to a risk branch
Of course, it can also happen that a loan is not approved. But this is also no reason to throw the entrepreneur’s shotgun straight into the much-mentioned grain. Because, thanks to the changing times, there are still the so-called crowdinvesting platforms and angel investors, who are actually always looking for promising business ideas to invest their money in them.
You have to be aware that angel investors, even if the name suggests, are not angels. These are also primarily interested in one and that is the profit. This means that they primarily invest in those companies that already have a positive balance sheet and that the company wants to expand its business activities on the basis of these positive balance sheets.