Small business loan for self – employed


The self-employed have to think about their existence! Customers do not always pay the bills on time, so that the self-employed must then pay in advance.

It often happens that there is a financial bottleneck and a small loan has to be taken out for the self-employed. However, a loan is also required here and there for private purposes. There can be different reasons for this, but there are a few things to consider when applying.

Personal loan

Personal loan

If the self-employed want to take out a small loan for private purposes, he will have less difficulties than with a business loan. Since it is a loan that only has a loan amount between 5,000 and 7,000 USD, not a lot of collateral is required. For example, if the applicant applies to the house banks for the loan, they only have to have credit bureau checked.

The bank statements are often not required because the bank knows the customer’s finances and can assess whether there is enough money to repay the loan. If the credit bureau proves no entries, then a small loan for self-employed is issued without problems. The loan amount is transferred to the applicant’s checking account so that it is quickly available.

Business credit

Business credit

A business loan takes more time to process. As a rule, the applicant must submit a profit and loss account, the bank statements and the creation permit. Some banks also require proof that they are self-employed for at least three years. Only then can a bank see whether the business is making enough profit and whether the loan can really be repaid.

With this small loan, a purpose must often be specified and may only be used for business purposes. A credit comparison can help with both loans in order to obtain the cheapest small loan for the self-employed. A comparison thus helps to save money, even if it is only a few hundred USD.

Small loan from the supplier

If the amount is small, a supplier credit can also be taken out. This form of credit for the self-employed has a term of 90 days. During this time, the loan must be repaid. This is only worth it if the self-employed person knows that he will soon be able to post money and that the amount is very small.