The self-employed often have to take out a loan for their business, as it is not uncommon for customers to delay payments. But there are also bottlenecks in the private sector, so that a loan can often help out of the difficult financial situation. If the applicant has too many negative entries in the Credit bureau, he will often not be able to apply for a loan in this country.
Banks make no distinction between an employee or a self-employed person. If the creditworthiness is poor, credit inquiries are rejected. Self-employed people in this situation want to apply for a loan without Credit bureau for the self-employed and will encounter hurdles that cannot be overcome.
Is there credit without Credit bureau for the self-employed?
No loans are granted in Germany without first checking the Credit bureau. The situation is different abroad if you don’t know Credit bureau here, so you can apply for loans without Credit bureau. However, these loans are not intended for all groups of people, because banks abroad also want collateral.
Banks abroad prefer employees or civil servants as customers because they have a fixed income that does not fluctuate. No fixed income can be determined for the self-employed, because business is not the same every month.
Collateral is always a top priority at banks, so it is important to have a regular income. The self-employed cannot fulfill this security, which is demanded, because they earn in irregular amounts. It is therefore impossible to get a loan without Credit bureau for the self-employed.
Ways out of the financial bottleneck
In order to still get a loan, the applicant can provide a surety. However, this is only possible in Germany. Here, the guarantor also has to undergo a Credit bureau test. If the latter would be willing to take out a loan for the self-employed abroad, the Credit bureau can be avoided.
In order to apply for a loan without Credit bureau here, a fixed income from a non-self-employed activity must be proven. In addition, the applicant must be of legal age and live in Germany. If you cannot find a borrower who is willing to do so, you can try to take out a personal loan.
This can either be found on the Internet or come from the family. Friends are also often willing to lend a sum if they trust the self-employed.