If you are self- employed and need a 79,000 USD loan for the self-employed , you have to be prepared for a difficult loan. Professional status alone is a reason for rejection. Nevertheless, there are some direct banks that also provide a self-employed person with a loan of 79,000 USD. However, a credit comparison should be carried out beforehand.
Why is self-employed credit so difficult?
Banks are more than reserved when it comes to a 79,000 USD loan for the self-employed. The reason is to be found in the unstable income of the self-employed. In contrast to an employee who has a regular income every month, a self-employed person earns more or less a month. They depend on the payment behavior of their customers and on the order situation.
There are also seasonal drops in some areas. Banks therefore have neither medium nor long-term payment security. The test procedure for a loan for the self-employed is also much more complex than for an employee. He simply presents his pay slip and the loan is ready. The self-employed have to submit income tax assessments from recent years.
A business evaluation (BVWA) and a profit and loss account are also required. Some banks even require a business plan and information about orders or business contacts.
So it works with the loan for self-employed 79,000 USD
Often, a loan is immediately rejected because many loans are standardized on the Internet. A good thing for the customer, the credit process is much faster and more relaxed. As an integral part, however, there is an assignment of salary as security for the loan. And here there is a problem with the 79,000 USD loan for the self-employed. He cannot prove such an assignment. It is also important for a 79,000 USD loan for the self-employed that the self-employment exists for at least two to three years.
Since many direct banks on the Internet use the aforementioned standardization for a credit check, the self-employed person falls through the cracks. Therefore, the first point of contact should be the house bank. This often accompanies the company financially for many years. She knows the financial situation and knows about the payment behavior of her customer. Nevertheless, no matter how the offer at the house bank turns out, a loan comparison for a loan for self-employed should be made 79000 USD.
What do these examples show?
The few examples show how the interest rate and the term change the credit rate. For this reason, a credit comparison should be made for each self-employed person before each 79,000 USD loan. It should be particularly important for the self-employed that a loan installment remains affordable.
A difference of a few percentage points results in significant savings. In general, a credit installment, regardless of whether it is self-employed or permanent, should adapt to income. It should be chosen so that it can be paid even in times of financial constraints. The self-employed should also
Increase the credit opportunities
If the bank is not satisfied with the average monthly income, a second borrower or guarantor can be named. These loan collateral often simplify a loan for the self-employed 79,000 USD. However, these people must have an income from employment. Even if the partner is also self-employed, the credit opportunities increase. Banks also accept collateral for life insurance, savings or a mortgage on residential property.
Bad Credit bureau – and now?
Not only the “normal” lending to a self-employed person is difficult. With a bad Credit bureau the offer for a 79000 USD loan for the self-employed becomes very narrow. Workers with a bad Credit bureau can switch to the Credit bureau-free loans from abroad. However, this form of credit is fundamentally secured by a regular income from work and that is not what the self-employed have.
For this reason, a loan for self-employed persons of 79,000 USD is not possible. With the Credit bureau-free loans, the funds come almost without exception from a bank, no property security and no guarantor are recognized. However, a so-called “proxy loan” could be a solution. No guarantee comes into play here, but a close acquaintance makes the loan application in his name. However, the loan amounts are capped. Three loan amounts are approved. One time 3500 USD, 5000 USD and 7500 USD.
The modern credit – P2P
With this type of loan, private investors grant a loan to loan seekers. It does not matter whether the customer is self-employed or a permanent employee. There are also credit portals such as Smava or Auxmoney on the Internet that establish these contacts. The customer submits his or her loan request of 79,000 USD for self-employed people in a way that is understandable and inspires confidence. To do this, he creates a profile.
If he is lucky, several investors are offering the 79,000 USD loan for the self-employed. Of course, evidence is also required for this form of credit. However, the conditions are not quite as strict as with banks. It is worth trying.