A loan with poor BWA has little chance of success. However, there are alternative ways that can promote borrowing. Self-employed people who are looking for a loan with a bad BWA can look around on the Internet.

As a self-employed person before the financial end?

As a self-employed person before the financial end?

Anyone who needs a loan as a self-employed person must be able to prove their creditworthiness. If he has a poor BWA (business evaluation), his chances are more than slim. The risk of a credit default is rated as high by the commercial banks, especially if the BWA shows weaknesses.

Possibilities of other loan protection means that are accepted by banks even with a loan with poor BWA are, for example, unencumbered real estate, retirement savings or other property and investments. Despite this, the loan is classified as a risk loan, which is reflected in higher interest rates. Another possibility to get a loan would be the Lite Lender Bank, which however has many bureaucratic hurdles.

Online banks and personal loans are options

Online banks and personal loans are options

Submitting a loan request to online banks is another option. These are known for cheap consumer loans. Individual cyber banks not only grant loans to employees subject to compulsory insurance, but also a loan for self-employment.

For the financial situation in which there is no longer a way out for a loan with poor BWA (business evaluation), a private loan is available. Such private financing can now be started on the Internet. A loan is granted on the relevant portals in the manner of an online auction house. The self-employed person sets his or her credit request with an appropriate wording, after which the credit request is activated. Private investors will now offer, initially only small amounts will be offered, the bids can be collected and can be added up to the amount of the loan. Once this has been done, a bank takes over the further procedure. The money is collected by the private investors through the bank and the loan is paid out.

Another option is to provide a guarantor who has a regular income. This could be the combination of an independent husband and the wife as an official. In this case, the bank will set clearly willing signals of lending for a loan with poor BWA.

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