The granting of a loan for freelancers can be of existential importance. This applies to the foundation phase as well as to the consolidation and construction phase. The offer of the banks and savings banks as well as the P2P loan provider is of very different nature. Which loan is the right one depends not least on what the freelancer wants to use it for.
Sample invoices for freelance credit
In the following example calculations are presented on the subject: Loans for the self-employed.
Thus, numerous P2P providers offer a targeted alternative to the offers of banks and savings banks.
Example 1: A provider of personal loans offers already starting from 1.000 euro a loan for self-employed, which can be applied for online. The condition is that the application pursues a self-employed activity for more than 2 years. The favorable loan rates are offered without any hidden costs. The processing fees are 4.00%. The annual percentage rate is 8.19% / borrowing rate pa 5.15%. With a loan amount of € 10,000.00, the total amount is € 11,262.63. *
Example 2: A further private loan broker offers fair credit opportunities to its potential customers with the in-house developed scoring technology. The application check takes place in real time and is also possible without PostIdent. The attractive interest rates speak for this offer. The processing fees are 2.85%. The annual percentage rate of interest is fixed at 7.9% / borrowing interest pa 6.32%. With a loan amount of 10,000.00 Euro, this results in a total amount of 11,217.92 Euro. *
For freelancers, applying for a loan from a P2P provider is often more successful than with the established banks and savings banks. These often act very hesitantly because freelancers can not demonstrate a proven fixed salary or fee. At least it is almost always spoken of an “increased risk”, which is also expressed in the form of increased interest rates.
* The percentages and the resulting arithmetical valuation depend on the current values.
Different forms of credit
According to current account credit, the installment loan for personal or business investment is the most requested loan because it is not earmarked as a business loan . Another feature of this form of credit is that interest is calculated on the total loan amount.
The current account credit is the credit line to the business account for freelancers and self-employed. The amount can be negotiated relatively “freely” with the bank. Important are a good credit rating and a positive examination of the business documents . If the private current account is used as a business account, an audit of the balance sheets and the income statement is also carried out.
The call-off loan with a high degree of flexibility is also interesting. The interest rates are 6-9 percent cheaper than a credit line with 10 percent and more. The big advantage is that the repayment can be made flexibly up to an agreed minimum repayment per month (usually 2%) and that interest only covers the amount of the loan claimed is of great advantage, the amount can vary between 300 and 50,000 euros. Most offers, however, start at least 2,500 to 5,000 euros.