Anyone looking for a loan for the self-employed despite a negative Credit Bureau has chances to take advantage of various loan offers. The article provides more on loan offers, requirements and background information on entrepreneur loans with a negative Credit Bureau.
Loan for self-employed people despite negative Credit Bureau problem
The self-employed and freelancers are often disadvantaged when it comes to lending, even with good reputation and good income. The difficulties arise from bureaucratic hurdles in proving income security. Either a very complex proof of income can be provided by the BWA or an income tax assessment is necessary. A profit and loss account could also be an alternative, but it rarely leads to a greater credit opportunity.
Against this background, the negative Credit Bureau entry is even more important than it is for ordinary workers. It is even more difficult to tap new sources of supply due to the credit rating deficiency. Only in the case of existing delivery relationships is a deterioration in the business relationship not to be expected. The supplier credits already granted, extended payment terms, usually remain untouched. This makes you the first choice for self-employed loans despite a negative Credit Bureau. Only payment delays should not occur if possible.
Credit despite Credit Bureau – installment loan
A normal installment loan from a direct bank, as shown in the loan comparison, is almost impossible despite Credit Bureau. Without the help of a guarantor or co-applicant, only factoring banks are considered as commercial loan providers. For a factoring bank, the most important thing is the creditworthiness of the customer whose invoice is to be bought. If the bank accepts the customer, payment is almost always expected on the same day.
The desire for a loan despite Credit Bureau indicates a paid Credit Bureau entry. With a paid Credit Bureau entry and a Credit Bureau scoring value of at least H, there are additional credit options. Under these conditions, the loan request may be published on all major portals for private lending.
It is important to convince private investors that the “accident” Credit Bureau should be dealt with openly, and the certificate should be activated despite the negative entry. Instead of hiding the entry, it is more honest to go on the offensive and briefly outline the history. The description should represent the facts and briefly explain why a repetition is not to be expected in the future. A loan for the self-employed despite a negative Credit Bureau, provided that it is well presented, has fair prospects for approval from private individuals.
Loan without Credit Bureau for self-employed
If the money cannot be obtained from private investors, there is still a way out through a credit broker. The promotion of this loan option is omnipresent. At least one of the following prerequisites must be met to grant credit from a reputable credit provider:
– A guarantor secures the loan
– A high-quality property security, for example a property, is pledged
– The long-term pension, life insurance or savings contract paid in is pledged
If one of the above requirements is met, a reputable credit broker can help. Credit advertising that promises a loan for the self-employed despite such negative Credit Bureau without such protection is to be viewed very skeptically.