Especially at the beginning of a self-employment one quickly gets into the situation that a financial bottleneck endangers the liquidity of the enterprise. It is then important to bridge this as quickly as possible in order to avoid insolvency. For the self-employed, it is generally more difficult to get a loan, especially if the loan is needed for the self-employed under 2 years. These are then considered as new founders and are classified in a correspondingly higher risk group.
A loan for the self-employed under 2 years
For self-employed and business people, the credit check is considerably more extensive and complicated than for an employee. Since self-employed people can not prove their income through salary certificates, other documents are required here. Among other things, the income tax returns of the last two years are needed and, depending on the loan amount, a complete business analysis (BWA).
In addition, most banks also require a profit and loss account or a revenue surplus bill. The fact that post-launch turnover tends to be low makes granting a loan for the self-employed under 2 years of age so difficult. In addition, the credit check for banks is very expensive, which is why a loan for self-employed under 2 years, if at all, is often offered only at very high interest rates.
Alternatives to the loan for the self-employed under 2 years
If you have additional collateral, you can increase your chances of getting a loan. A good option for this is a capital-forming life insurance. It is important that a sufficient sum has already been paid into life insurance. Alternatively, it is also possible to include a second borrower in the contract in order to increase their own credit rating.
This should then have a sufficient income from non-independent work and also have no negative entries in the credit bureau. These conditions also apply if the loan for the self-employed under 2 years is to be secured by a guarantor. Both a second borrower and a guarantor will be subject to a full credit check.
The Intrasavings loan for the self-employed under 2 years
The Reconstruction Loan Corporation is a state-owned company and offers, among other things, loans for business start-ups. The program is called Intrasavings-Startgeld and can be applied for at the own house bank. These can be claimed within three years after start-up. Possible is a loan amount of up to 100,000 euros, of which up to 30000 euros may be for equipment. Above all, the favorable interest rates and the flexible repayment options are major advantages of the Intrasavings loan. Thus, the repayment can be made over 10 years of which the first two years can also be made without redemption.