See how it works and how to get the loan for self-employed and check out some tips that we separated for you to ask for the credit you need:
How to get loan for freelance?
The self-employed loan works in two ways: through personal credit and secured loan. Understand the difference between them and how to find the best option for you. You know that old story that self-employed people can’t get a loan because they can’t prove their income? That time has passed!
Yes, it is possible to get a self-employed loan and still negotiate lower interest rates. How? Using our credit search engine and comparing offers from different banks and finance companies to choose the one that best fits your profile. Good right?
Personal loan for self-employed
The self-employed loan in the form of personal credit works very well for those who need quick cash. This type of credit does not need proof of how you will use the money, only the approval of your income.
In the case of self-employed workers, proof of income can be made through bank statements. In this way, the bank or finance company can confirm that you have monthly income and are able to pay your bills. The tip we give you is to accumulate as much as you can from monthly bank statements. Submit statements of your account movement for the past six months, this will facilitate credit approval.
Another factor that will help when getting a loan is to have a Positive Registration. The loan was created mainly to help self-employed workers and consumers who have some debt open but who pay their bills on time more easily obtain credit.
It works as a database that concentrates the history of good payments, where some of its main financial transactions are recorded, such as the payment of a electricity bill, water, telephone, loans and financing.
So, if you have a negative name due to some specific debt, but pay your commitments correctly, you can have a good track record in the Positive Register. And that ends up helping the finance company to have a better view on the consumer and facilitating the credit granting process.
To hire the personal loan is very simple and you can do everything online, without having to leave your home and go to a bank in person. Use loan comparator to choose the lowest interest rates. Always remember to calculate the Total Effective Cost (CET). The CET is a sum of charges, fees and taxes and expenses for a credit or financing. After choosing the desired loan, fill in your details, send the proposal. Ready! Now just wait for approval.
Loan with guarantee for self-employed
Another very interesting modality for the self-employed is the secured loan. The secured self-employed loan generally allows you to apply for a higher amount, has a much longer payment term and offers lower rates because it is considered to be less risky.
This is because to apply for this type of personal credit you need to place an asset as collateral and this asset that is placed usually has a high value, which can be an apartment, a house, land or a vehicle. The most common modalities of this credit line are Property Guarantee Loan and Vehicle Guarantee Loan.
To be entitled to request this type of loan, the property or vehicle must be registered in your name, because if you are unable to pay the debt, this asset is put up for sale or auctioned to cover the amount made available by the finance company. In this type of operation, also known as refinancing, your asset will be sold and you will not be able to sell it during the period you are paying the loan.
Loan for self-employed negative
We already said above that the Positive Register can help you apply for a loan even if you have an active debt. So, you can assume that it is possible to apply for a loan if you are self-employed and are negative. It is certainly more difficult to achieve, but nowadays there are many financial options that are specialized in offering credit to self-employed people or to people with a negative name.
You need to keep in mind that not all institutions work with this type of public, but there are still good options for loans for self-employed negatives, without those abusive interest rates that were practiced in the market. You just need to research and compare very well and with our help it just got easier.
Make a loan simulation for freelancers using our credit comparison and find the best offer for you!