Loan for self – employed persons without credit check.

As a self-employed person, it is not easy in Germany. Nevertheless, the number of self-employed is growing steadily. Terminations, short-time work, one of our jobs, lower wages for inflexible working hours and a poor working atmosphere are some of the reasons why more and more people are starting their own businesses. And if you still have a good idea and a reasonable business plan, nothing stands in the way of the adventure of independence.

It’s a shame if the path to success at a bank threatens to fail. The self-employed are considered a risk group in Germany, since economic highs and lows hit the self-employed in a special way. As a self-employed person, bad economic conditions often hit you hard, making it impossible to repay installments. As a result, many banks find it difficult to provide self-employed loans at a good interest rate, especially if the loan is to be granted to self-employed persons without a credit check.

Loan for self-employed persons without a credit check

Loan for self-employed persons without a credit check

Nevertheless, there are ways to get a loan for the self-employed even without a credit check. Foreign banks in particular, so-called direct banks, are market leaders here. They guarantee many self-employed loans on favorable terms. They discovered a gap in the market there and, particularly as a result of the economic developments in recent years, found that some employee relationships do not necessarily promise a safer payment of the installments than is the case for the self-employed. The job, which was often believed to be safe, fell victim to savings and the installments could also not be paid.

For many direct banks, the self-employed are not considered a risk group, but rather a large customer base. The offers of the direct banks are very different for a loan for the self-employed without a credit check. A tin rate of 5% up to 10% should be expected. The advantage of many of these offers is clearly the long term of the loans. This term also ensures that the self-employed can pay the installments, even if the income fluctuates and is not always as high as expected.

Fill out the loan application online

Fill out the loan application online

The main advantage of internet offers is the fast and mostly also very reliable processing. You can simply request a free individual offer on the Internet and also easily compare different providers and offers in this way. The respective offers are absolutely non-binding. After you have entered your desired loan amount, you specify how high you want the monthly installments to be. Then you can choose what is particularly important to you. Favorable rates, low interest, quick settlement or the possibility of early repayment?

After entering your personal data, you will receive your individual offer shortly afterwards, simply and conveniently by email. The data is encrypted during transmission, so you don’t have to worry about it getting into the hands of other people. After receiving the offer, you can easily compare the different interest rates, rates and terms and choose the offer that suits you the most.

Other ways of getting a loan as a self-employed person without a credit check would be to designate a person who agrees to the bank to assume the guarantee. Even then, the self-employed person receives a cheap loan, for example from their own bank.

Quick loans – which one to choose?

Whether we like it or not, today’s time is all about money. Everything costs something and each of us has to set our individual or family budget according to our income and average expenses. If you are one of the happier ones, you probably manage to put some money aside and save for worse times. However, there are also those among us whose finances are, so to speak, “tight”. Any unexpected expenses will then cause them to be in a state of temporary insolvency.

You have to pay, but you have nothing to do. It also happens to those of us who have a reserve, but its amount is not enough to cover the needs.

In acute cases, when, popularly speaking, “the roof is burning” there is not much time left to hesitate or wait until you finally get to the necessary amount of money. The situation must be resolved almost immediately.

Lenders are aware of this and you will find plenty of offers on the market called “quick loan”, “immediate loan” or “loan within 24 hours”. There are basically two types of credit products behind these names. These are either sms loans or fast online loans.

Whatever type you decide on, you can get to your money really quickly, without unnecessary delays and exhausting bureaucracy, and you don’t even have to leave the interior of your house or apartment when you use it.

However, it is also necessary to look at the other side of the coin and realize that there are certain differences and differences between sms loans and online loans that need to be kept in mind. Not every one of them is suitable and advantageous in every situation!

What is an sms loan?

What is an sms loan?

This type of loan is also called loans, because the non-banking company was the first to come with them, thus starting a new era in the loan market.

These are actually microloans for the very small amounts needed to cover temporary insolvency, most often just before the payout.

The maximum amount you can borrow varies from provider to provider, but on average it is around € 350. To get a better overview, we recommend this article with reviews of the top 5 sms lenders.

If you need more money, for example to pay for a major repair after a car accident, or to renovate a leaking roof, a loan is not the right solution for you.

Arranging an SMS loan is very simple. If you are applying for it for the first time, you must first register on the provider’s website, but if you repeatedly draw money, you can get financial help by sending one SMS message, for example on the bus during the trip to work.

In the current credit market, there are several providers of sms loans, which are fighting hard against each other. Thanks to this, today most of them offer the opportunity to obtain the first loan completely free of charge to attract new clients.

We can consider this a great advantage. In practice, this means about the fact that when you apply for a loan for the first time, you will only have to repay as much as you borrowed. Zero interest, zero fees!

So if you really only need to borrow once, these “special” offers can be used very nicely. However, if you are interested in borrowing a second or third time, you have to reckon with the fact that it will no longer be free.

And here we come to important information: SMS sms are really the fastest way to get money at the moment, but the average amount of total repayment, ie RPMN, is in the thousands.

However, considering the fact that you only borrow a small amount and the repayment period is only 30 days, you don’t have to worry about an “unmanageable” amount being refunded.

Nevertheless, we appeal to your common sense: before you apply for an SMS loan, consider whether you are really able to repay the borrowed amount with interest by the due date. Fifteen or thirty days is really short time!

If you are not sure that a large enough amount will run into your account for a problem-free debt settlement, you should avoid this type of loan with a wide arc! It could quite easily happen that an executor will knock on your door.

What is an online loan?

What is an online loan?

In principle, it is a very similar loan product to a loan, but only in the sense that you can process it quickly, without unnecessary paperwork and waiting for approval. All you need is a computer with an internet connection. You fill out an online loan application and you can have the money in your account within 24 hours after its approval.

Unlike an sms loan, however, you have the opportunity to get much higher amounts, not just a few tens or hundreds of dollars. The amount of the total repayment is significantly lower than with sms loans, so it is clearly much more suitable if you need to borrow a higher amount, in the order of several thousand dollars.

However, we recommend it, for example, even if you urgently need a high amount – for example, 350 dollars – which they would not lend you at the bank. And for one simple reason: most banks have set up so-called consumer loans. the minimum amount of principal at 600 to 650.

So if you need to borrow the mentioned 350 dollars, for example, for a summer vacation, an online loan is the ideal solution for you. Through an SMS loan, you would overpay this amount unnecessarily (in addition, as a new client, they would not even lend you so much for the first time) and the bank would “paint” them and twist their noses.

TIP: The parameters of online loans are different for different providers, but if, for example, you apply for a loan through our online form, you can actually borrow money from a few hundred up to 5000 dollars.

With an online loan, you can also set the repayment period that suits you best in a clear loan calculator. For example, you can repay the entire loan within a few months, but you can also spread the debt repayment over several years in regular monthly installments.

If you also add the exact amount you intend to borrow to the mentioned calculator, you will see exactly how much you will repay the entire loan. You don’t have to worry about any hidden fees – what the calculator throws at you, you will really pay for.

With an online loan, you do not have to prove the purpose; in the vast majority of cases, non-banking companies will not even knock you over in the credit registers. They will provide you with money without a guarantor or other form of security, or even without proof of income.

Advantages and disadvantages of loans

Advantages and disadvantages of loans

Of course, each case is assessed individually and with higher borrowed amounts or if your creditworthiness is too low, you will unfortunately avoid liability and proof of income.

Advantages of sms loans:

  • Possibility to borrow small amounts in tens of dollars
  • Speed ​​- new clients will receive money within 24 – 48 hours of sending the application, regular clients within a few hours
  • In most cases, they will not check you in the debtors’ register
  • You do not need to prove the purpose
  • You do not need to document receipt
  • You don’t have to go anywhere – you can arrange the first loan behind the monitor of your computer or tablet and repeated requests via sms message wherever you are

Disadvantages of sms loans:

  • If you are a new client, you can borrow only minimal amounts (on average from 80 to 100 dollars)
  • Even as a regular client, you will not get high amounts (the upper limit is around 350 dollars)
  • You repay this type of loan high – the RPMN is much higher than with online loans
  • They are repaid in a lump sum = it is not possible to split the amount owed into several installments
  • Short maturity (maximum is usually 30 days)
  • High fees for extension of maturity or early repayment

Advantages of online loans:

  • Possibility to borrow higher amounts (from hundreds to several thousand dollars)
  • Speed ​​- the client usually has the money in the account within 24 hours
  • You do not have to prove the purpose of the loan
  • Providers will in most cases not lustrate you in credit registries
  • You don’t need a guarantor (but you can’t always avoid it, especially if your credit rating is too low)
  • You do not have to submit an acknowledgment of receipt (attention: with higher loan amounts, they will ask you for it!)
  • Significantly lower RPMN compared to sms loans
  • You can set the due date yourself and it can be set for several years
  • Distribution of installments = you will repay at regular (most often monthly) intervals
  • Convenient equipment from home – just a computer with internet connection

Disadvantages of online loans:

  • Most providers do not allow you to borrow micro-sums in tens of dollars
  • Higher interest rates and fees compared to bank loans
  • High fees for extension of repayment period or early repayment
  • You can avoid liability and proof of income only for small amounts
  • If your payment morale is low, it will be reflected in significantly higher interest rates