The self-employed often have a particularly hard time in the day-to-day life of banks – unlike employees whose employment is permanent and permanent, the income is generally not secured for the self-employed and can fluctuate greatly due to different order situations or economic downturns. What about a loan without Credit Bureau for the self-employed?
In principle, a negative Credit Bureau is not necessarily an obstacle to a loan – it also always depends on the other framework conditions and the collateral that the borrower could provide.
In the case of a loan for the self-employed, not only the “private” creditworthiness of the borrower but also his company is assessed. How profitable is the economy? How well or badly can the company assert itself against its direct competitors on the market?
As is known, employees have the option of applying for Credit Bureau-free loans from abroad, such as Switzerland, Austria or Spain, which are offered in Germany through credit brokers. However, these Swiss loans without Credit Bureau are never granted without the creditworthiness being checked in more detail – that is, it is irrelevant what can be found in the Credit Bureau debtor register about the applicant, but the amount of his income is carefully examined.
In general, borrowers have the option of providing collateral and thus making up for negative Credit Bureau entries. Also, Credit Bureau entry is not the same as Credit Bureau entry – for example, if it is the xth loan that is being applied for, which can of course also be found in the Credit Bureau information, the applicant is much more likely to be refused than with an overdrawn bank account or not paid cell phone contract.
In principle, the self-employed should first contact the house bank when looking for a loan without Credit Bureau. The advantage here is that you know the borrower or their financial situation exactly, so Credit Bureau information is often no longer obtained.
Otherwise it will be difficult for the self-employed to apply for a loan without Credit Bureau, because the banks must be able to calculate risks, and for this purpose they secure themselves by carefully checking the creditworthiness of the self-employed.