Payday loans for the self-employed – fast and unbureaucratic

Self-employment lending credits are only approved if the self-employed person can prove that they are creditworthy. Especially with a self-employed person it often comes down to a quick credit decision.

Since goods have to be bought or bills no longer wait. Thus, payday loans for the self-employed can be an option.

But self-employed people often struggle to get a loan.

Quick read – short overview

Quick read - short overview

  • Self-employed often lose out on fast loans
  • But that does not always have to be this way
  • Check – right now and without risk – your individual opportunities in real time
  • For this please apply – guaranteed first without obligation – your desired loan

Payday loans for the self-employed – Facts

Self-employed people often can not prove a regular income. Reason enough for the bank to refuse a loan from the outset.

After all, the bank needs nothing more than the security of a regular and sufficient income if a loan is to be granted. For the self-employed, this is difficult.

For example, self-employed people often only get a loan if they have been self-employed for three years. Comprehensive documentation proving income must be provided.

The basic requirement for payday loans for the self-employed is in addition to the regular income of the clean remark.This is also important for other borrowers.

As income proof, self-employed persons must submit income tax assessments of recent years, a profit and loss account and a business evaluation. If a bank agrees to provide payday loans to the self-employed, it is important to find the right lender.

Payday loans for the self-employed – example should not make school?

The fast payout of the payday loan entails a higher interest rate. However, many customers are willing to pay an interest charge when the loan is ready quickly.

With this quick processing of the loan application, a comprehensive review of the details in the loan application will not be possible. Therefore, many lenders dispense with this type of credit on a merit certificate.

This allows self-employed to indicate average earnings without reference to employment. Under these circumstances, many payday loans for self-employed come about.

However, correct information is bypassed here. This can lead to problems if subsequently the loan can not be paid and the lender thereafter carries out a comprehensive credit check.

It can happen that the lender can reclaim the entire loan.

Payday loans for the self-employed – the serious credit

Much better is the solution if the self-employed is looking specifically for payday loans. This can be done with a credit comparison.

There can also come information that shows which lenders to self-employed people even lend a loan. In the credit comparison, the loan amount and the term are entered.

It should be stated that the customer works independently. With one click, a list will be visible that contains all the information.

So not only the amount of credit can be determined, but also the interest rate. Likewise, suppliers are shown who have self-employed in their portfolio.

As far as the interest rate is concerned, the self-employed may assume that they have to pay a higher interest than workers. This lowers the Bank’s default risk.

Many lenders require in addition to the aforementioned documents, a solvent guarantor.

Payday loans for the self-employed – the guarantee

The self-employed can also receive a higher loan amount if a guarantor can be named. This guarantor must be solvent, which means that he has a sufficient and regular income from a permanent position and has a clean remark.

The remark of the guarantor may also show no disclosure oath or a seizure. The solvency of the guarantor must therefore be higher than that of the customer.

The guarantor should also know that the guarantee is registered in his remark. That can reduce his own credit rating.

Also, there should be an absolute relationship of trust between the loan seeker and the guarantor. Finally, the guarantor is liable for the loan with his assets.

Payday loans for the self-employed – find the right lenders

The self-employed is recommended to contact the house bank first. Mostly it is this bank that has supported the self-employed for several years financially.

The bank knows about the finances of the customer and his payment behavior. Thus, it may well be that the interest rate is even slightly cheaper than at another bank.

If the house bank refuses the loan, as already mentioned, a guarantor can increase the credit chances. The customer can also switch to a direct bank.

There, the same conditions apply as in the house bank. The innovative credit marketplaces such as Smava or Auxmoney also offer self-employed loans.

If no credit is created, a credit intermediation can be commissioned. Reputable negotiations could be called Bon Kredit or Maxda.

Who comes to frivolous working placements, who should pay on no pre-cost and sign insurance contracts.


A payday loan, he is at least advertised, is paid out as soon as he requested. After only a few hours, a preliminary loan decision is issued.

For many lenders, a payout is just as fast possible. In general, a payday loan is nothing more than a normal installment loan, where the payment is made faster.

Especially with small loan amounts, proof of income is often waived. But even smaller loan amounts can lead to over-indebtedness.

Therefore, it should be checked in advance whether a installment at all fits into the monthly budget. If higher credit sums are required, nothing beats additional collateral.

As already mentioned, think of a guarantor here. Even a property or lendable insurance can serve as security.

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