Can you have a loan without credit check
The loan for the self-employed without credit check is a product of the financial institutions, which is aimed specifically at self-employed. If you are interested in this type of loan, you may have learned in advance that banks and credit institutions are not making it easy for self-employed to obtain a loan.
They lack the consistent proof of income and thus they represent for the potential financiers a group that carries an increased risk of ultimately not being able to pay the loan if corresponding orders and thus cash receipts fail to materialize. In essence, each employee has the advantage of being able to teach the desired type of income proof by the employer over several months. Lenders and banks can use this information to determine whether the applicant is able to pay the desired loan amount in the future. The self-employed are disadvantaged in this regard.
Special features of loans for self-employed
The credit for self-employed without credit check is still a special option, since with him, as the name implies, no credit check takes place. This means that the lender does not do a credit bureau query. For example, self-employed persons who have debts from their previous working lives or negative credit bureau entries for other reasons still have the option of taking out a loan.
However, every applicant should be aware that if they apply for a loan for self-employed people without a credit check, they will not end up with a domestic lender. Banks that offer loans for the self-employed without a credit check are always banks from abroad – especially Austria and Switzerland.
Applying on the Internet
The Internet is the platform on which self-employed people in Germany can get in touch with banks abroad. The application for the loan for self-employed without credit check takes place online. Of course, foreign financial institutions will ask for collateral and proof of receipt of money on the reference account, but they will make no query to the credit bureau and the loan for the self-employed without credit check as such is not noted in the credit bureau.
Many providers with many different products
There are certainly more than a handful of providers who provide self-employed credit without a credit check in their program. Any self-employed person looking for such a loan must be prepared to get more than one offer. If the application for the product as such is also very easy via the Internet, a lot of emphasis should be put on the exact selection of the suitable supplier.