Employees usually have no difficulty getting funding. However, the situation is different for the self-employed and freelancers. There are no differences between these two professional groups. Banks treat people acting on their own account differently than people who are in a dependent professional relationship. Why this is the case is explained in more detail below.
The difference between a self-employed and an employee
There are serious differences between these two professional groups. The employee can have a fixed income every month. Unless he receives a raise, this is always the same. Income changes only in the months in which holiday pay and Christmas bonus are paid. The situation is different for a self-employed person. What he takes in monthly is practically in the stars. Income is never at the same level, which is why financing is so difficult for the self-employed.
It becomes even more difficult when this activity is reopened. The banks require a business evaluation that is not yet available when the store is opened. Fortunately, there are banks that also finance self-employed people.
The bank has to check
If the self-employed activity has been practiced for some time, the self-employed person must submit his BWA. This is usually done through a tax advisor. However, the bank needs considerably more time to check such a loan application. For employees, a personal interview with the consultant or a loan application from an internet bank are sufficient. This process takes significantly longer for the self-employed. The Internet is the perfect way to find financing for the self-employed.
Not every bank is willing to do this, and mostly online banks are more likely to make a commitment here. It is also a good idea to ask private individuals about financing. Centiloan is a platform in which private individuals have come together to lend money. The self-employed are even very welcome here, because here one understands the worries and needs that plague the self-employed.