The path to fresh capital is often rocky. Many financial institutions answer requests for a commercial loan for the self-employed negatively: Experience has shown that they earn little if small companies need a loan or if this is to pave the way for self-employment for freelancers. Not all banks therefore grant a loan for the self-employed, commercial small business owners or freelancers – especially if the company’s industry is in crisis or the volume is low. The institutions expect a relatively high audit effort and risk. If capital is needed, it is therefore important to select the right provider and prepare yourself well for the credit discussion. Anyone who applies for a loan as a self-employed person or small entrepreneur must meet various requirements. In particular, the bank requires solid figures and collateral. Because no one can guarantee that the business will go as well as calculated.
Commercial credit: The financial sector mix decides
Whether banks grant a loan for the self-employed, freelancers or small entrepreneurs depends strongly on the business model of potential customers and their earnings. If the dependence on a client is too great, banks downgrade the creditworthiness – the indicator of creditworthiness. Because the ability to pay interest and repayment would be at risk if the main customer pays late or not at all. That is why it is also important as a small business owner and self-employed person to include other forms of financing in addition to the loan and to secure liquidity. Traders can, for example, sell receivables of solvent major customers, collect invoices faster and lease capital goods instead of buying them (merchant cash advance). This strengthens equity and has a positive effect on the rating. If you plan and control liquidity well, it is easier to get a commercial loan for the self-employed and need less debt capital. In addition to the banks and savings banks, financial service providers or private investors also offer financing via so-called crowdfunding platforms.
Small business: Credit and collateral of the bank
If self-employed or small entrepreneurs need a loan to bridge a liquidity shortage, a good relationship with the house bank pays off. Many institutions have therefore kept companies afloat with fresh capital in the crisis. If you have to find new financiers, on the other hand, it is difficult. Without valuable collateral, there is usually no money. Under no circumstances should traders fall for dubious offers that promise a loan for self-employed people without Schufa. It is better to discuss possible alternatives with the tax consultant or the financing consultant. Missing collateral can be replaced, for example, with default guarantees from the guarantee banks of the federal states. The application is usually made via the house bank. The low-interest loan of a development bank for the self-employed, freelancers and small businesses or grants are also interesting alternatives. The consultants know the respective funding pots and clarify which requirements self-employed people must meet in order to obtain a loan.
Funding of the self-employment: Good credit for self-employment
If the loan for the self-employed comes from a development bank, freelancers or traders benefit from favorable interest rates as well as repayment-free start-up years. And if their business is going well, special repayments are usually also possible. With excess liquidity, a subsidized loan for the self-employed or freelancers can be paid off faster. Check Fundshop Entrepreneurs in particular often start self-employment with such a loan. The advantages: As a small business owner or self-employed person, they pay lower interest rates for the loan of a promotional bank. In addition, they have to contribute no or little equity capital and provide less collateral. But established companies also benefit from numerous funding opportunities. Especially for investments in digitization and sustainability, the federal and state governments want to further increase the funding pots.