Business loan without annual figures
If you want to borrow money as a freelancer, the distinction must be made between whether it concerns a business loan or a private loan. As a self-employed person it is a lot harder to get a business loan, there are more options for successfully applying for a personal loan.
Why are you more successful if you do not apply for business purposes, because then what is the difference. Read on to discover where you can best apply for credit and what you should pay attention to in terms of conditions and interest.
Borrow self-employed money
Because the government realizes that it is particularly difficult for small entrepreneurs, especially self-employed people, to get a business loan, they have created a special website that provides non-profit business loans. guarantee if you meet certain conditions. There are two different business loans:
This credit can be requested up to a maximum of 50,000 euros, the interest is on the high side, but you can repay extra. This credit is available for both starting and existing entrepreneurs.
You can only apply for a SME loan from 50,000 euros to a maximum of 250,000 euros. This credit can be used for different purposes, so you can also use it as a collateral mortgage, which is not possible with the microcredit.
The interest is a lot lower than with microcredit, at the time of writing the difference is around 2%.
Borrow money for private
You can go to the regular lenders to take out a loan for personal purposes or a mortgage, but you often have to be able to show annual figures and tax returns for at least the past 3 years. The more numbers you can show, the better it is of course. In this way, the lender can properly estimate whether you can repay the requested amount on time. The interest you have to pay depends on the amount you want to borrow, the higher the amount, the lower the interest.
Credit Registration Office
You may not have any payment arrears for applying for any credit, whether this is for personal or business purposes. If you have this backlog, first make sure it is cleared before you apply for a loan somewhere else. As a self-employed person, you are not allowed to borrow money, unlike someone who is employed.