Loan is for the private sector
As a self-employed person, you have to know every day how and where you get your salary. As a self-employed person you have to push back and forth a lot to be aware of the turn around. The credit institutes know this and are therefore very reluctant to lend to self-employment.
So, what to do if a self-employment loan is urgent, but you are not in a position to avail yourself of this loan? Only if you are looking for active support, a loan for self-employment works. If it is a job loan, then the guarantor who is needed urgently should come out of that position.
This avoids the guarantor having to stick to his private capital and his articles. On the other hand, if the loan is for the private sector, the guarantor can come from the private sector. Not only as a guarantor, but also as a true competitor. This allows to use both business partners at the same time and reduces the default risk.
Loan for self-employment is sought
If self-employment is still in its infancy and the loan for self-employment is sought, eg to become one’s own company founder, one can also rely on public funding. There are very special loans for business founders, which require less security and pave the way for self-employment.
For a self-employment loan as the founder of a new business, you must be able to present a business plan that presents the project in detail and shows the principal bank that you not only have your own ideas, but that they can be implemented. Otherwise, it can be assumed that you will hardly have any chance of a loan elsewhere.
If you do not get a loan in Germany, you’ll soon think that you can certainly find what you are looking for on the internet. If you work in a permanent position and receive a good and stable salary, such a loan is also possible. Unfortunately, as a self-employed person you can not avoid such a loan.