If entrepreneurs need additional financial resources, there is often only an instant loan without Credit Bureau for the self-employed. The market is too confusing and the requirements of German banks and savings banks are too high for there to be an easy route to an entrepreneur loan.
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In addition, the lending institutions differentiate whether the loan is used for working capital or capital goods or whether it is intended for the private needs of the entrepreneur. If it is a regularly recurring, operationally related expense, an ordinary businessman with the appropriate credit rating will contact his house bank. The employees there are familiar with the economic situation of the company and know whether vehicles, machines or other capital goods are assigned as security or whether claims against customers have to be assigned. An instant loan without Credit Bureau for the self-employed is probably the exception in such cases.
Entrepreneurs need loans for private purposes
The situation is completely different if the entrepreneur needs the loan for private purposes. A properly traded merchant will generally refrain from being liable for a private loan with his company capital. In such a case, an instant credit without Credit Bureau can be the right choice for the self-employed. However, it must be taken into account here that banks and savings banks as well as private credit intermediaries are extremely reluctant to make private loans to companies.
In most cases, a positive loan approval is preceded by an in-depth credit check. In addition, lending institutions often require collateral in the form of real estate or guarantor. The banks and savings banks use these factors to determine the interest conditions, fees and repayment modalities. A good relationship with his house bank or excellent economic advisors are the best prerequisites for the entrepreneur to decide whether an instant loan without Credit Bureau is needed for the self-employed or whether a conventional loan is the better choice.