Lightning credits for the self-employedOn December 3, 2019 by Rosalia Hampton
Lightning credits for the self-employed are often difficult to obtain. Many banks fear the risk associated with constantly fluctuating or significantly low income. If at all, the self-employed entrepreneurs should only have a chance of a suitable personal or business loan if they have been successful for several years and have proven that they are able to make a living from the business income.
Good credit rating is essential
The most important requirement for a credit approval is a positive Credit Bureau information. This applies to both employees and the self-employed. Lightning credit for the self-employed requires different proof of income than most installment loans, which are only granted to employees.
As a rule, these will be the profit and loss account, the business accounting, the income-surplus account, the tax returns of the past years and the account statements of the last three months. Individual deviations are of course possible. The independent borrower will notify the independent borrower of the specific documents the bank or savings bank needs when making the application.
Anyone who cannot find a suitable bank that would be willing to give lightning credits to the self-employed could contact a person in their own circle of friends or a private credit broker. A reputable credit broker who has been successfully on the market for several years can often help in more difficult cases. However, it would be very important never to transfer any agency and / or account management fees in advance.
Application, approval and repayment
In many cases it is easily possible to submit a loan application online. This variant has a number of advantages. This means that the self-employed person is independent of any opening hours of the bank and could immediately receive a message after the application has been made as to whether the loan application can be provisionally approved. For a final loan approval, the bank requires various documents, which must be sent using the procedure. Alternatively, there would be the possibility of submitting proof of income and / or additional collateral in a branch of the bank or savings bank.
However, the most important prerequisite for this would be that the bank has a branch network at all and does not operate exclusively on the Internet. If the credit can be approved, there is usually nothing standing in the way of a quick payment. To do this, the self-employed entrepreneur would have to provide an account from which the monthly repayment installments are also collected.
They are set individually and are based not only on the term, but also on the amount of the annual percentage rate. After the payment, the entrepreneur must ensure that he pays the monthly loan installments on time.