Self-employed in the loan application and opportunities!

Moneyor for the self-employed as an alternative to the bank

moneyor for the self-employed as an alternative to the bank

Traditional banks and online credit intermediaries are still disadvantaged by self-employment, entrepreneurs and small businesses in lending. Since the cost of evaluating the creditworthiness of the self-employed is significantly higher than that of consumer loans (for people with a salary certificate), lending business is of no interest to banks, especially for small loan amounts. Whenever a loan is granted, the formal credit requirements generally have to be met rigorously.

Good that there are credit alternatives: Unlike banks, the self-employed in the online platform moneyor have the opportunity to present their loan application and justify. The latter proves to be a big advantage compared to the bank. Individuals or private investors as investors then choose whether the self-employed person seems to them to be sufficiently credible and with which loan sums they want to support the project.

With moneyor a genuine exchange takes place between loan seekers and private investors, which is particularly crucial for professionally self-employed and founders with projects that often need to be explained. This makes it easier to finance new and forward-looking projects via moneyor than through conventional bank loans. In times of investment crisis (ECB zero interest rate policy) moneyor is also considered an interesting investment opportunity for private investors.

Procedure for self-employed in the loan application

Procedure for self-employed in the loan application

First, the credit project is created: describing your own situation and the plan or goals that you are pursuing. Key questions help fill in the fields on the portal. The loan amount, the term and the interest rate of the loan you want, you determine yourself. After the loan project is published, investors can bid on it.

The credit project description can be optimized until the first bid has been received. The credit project will initially be on the moneyor credit marketplace for 14 days and may be extended if necessary. If a loan is financed by investors, moneyor-Partner bank  transfers the loan amount to the borrower’s account. The procedure takes about 4 weeks. Upon receipt of the loan, the agreed installments will be collected by the Bank, which in turn will forward them to investors together with the interest. imp

The functionality of moneyor is similar to that of an auction platform : moneyor allows people to privately lend money to other people or to get a personal loan from other people. The borrower benefits from lower interest rates compared to the bank.

Conclusion: With moneyor, self-employed people have a real chance of getting a loan, even if they were rejected by banks. For the self-employed, founders, entrepreneurs and freelancers, moneyor has established itself as an alternative financing option in recent years.

moneyor loan without bank for self-employed & small companies:

  • Lending privately to self-employed, young entrepreneurs & small businesses: High bank margins eliminated!
  • Unlike the bank: Applicant can present and justify his personal loan project!
  • Absolutely discreet: your employer and your house bank learns nothing
  • often lower interest rates than online credit banks!

Guide tips for the self-employed…

  1. Our advice: First study the credit requirements, and then submit the application! This saves unnecessary frustration and false hopes.
  2. SME Finance Tip: With a single online request, SMEs and self-employed can now choose the best offer from 220 financing service providers and 1,700 subsidies from EU and Germany, free of charge and without obligation! More at: SME tip: With one request access to 220 financial partners and 1,700 funding!
  3. Short Loan for Companies: The “Digital Employment Credit” offered by Inancingent in cooperation with solarisBank fulfills exactly the requirements for fast lending to bridge financing bottlenecks. This allows customers to receive a loan commitment of more than € 100,000 within only 24 hours, with a maximum of € 750,000 within 48 hours. Also under: Inancingent also for fast credit solutions within 24 hours!
  4. Find the best loan instead of search: With the credit formula can save up to 40% interest!
  5. Often forgotten: A financially strong guarantor always increases the chances of getting a loan (including cheaper credit terms).
  6. A credit insurance can be helpful as additional security!
  7. In addition to a guarantee or credit insurance, there are other securities that increase the chances of a loan.
  8. In addition to moneyor, we also recommend smava as another crowdlending platform in Germany!

All further find loan seekers in our practice guide loan for the self-employed.