Not every bank offers instant loans for the self-employed; for some, the risk of a possible payment default seems too high. If you have been in business for several years as a self-employed person and can demonstrate a sufficiently high income, you should still have no difficulty in obtaining a loan.
Apply for instant loans for the self-employed correctly
Since you, as a self-employed person, do not have a regular income, but your earnings are usually subject to monthly fluctuations, most banks require you to present income tax assessments for the past two to three years. They serve as proof that your average earnings are sufficient to repay your loan.
Some financial institutions that offer instant credit for the self-employed also require that you present your excess income statements or balance sheets for the past few months. If you have collateral such as life insurance or real estate, you should definitely state this if you want to apply for instant loans for the self-employed. This can lead to a significantly better assessment of your creditworthiness.
Calculate loans correctly as a self-employed person
When calculating the maximum monthly loan rate, you should orientate yourself to the weaker months so as not to run into financial difficulties. Also keep in mind that you should save a little bit of money each month for unforeseen expenses or times of bad orders. If you are interested in instant loans for the self-employed, you should make sure to keep a certain financial buffer after the installment has been repaid.
In addition, find out whether a special repayment or a one-time suspension of the rate is possible at the chosen bank. This enables you to respond better to changing situations in your working life. Especially when several banks offer you instant loans for the self-employed with similar interest rates, flexibility can be an important decision criterion when choosing the right provider. So be sure to find out about the conditions before signing a loan agreement.