Thanks to the improvement of the economic situation of our country and the increase of financial institutions offering loans and credits with hardly any conditions , nor guarantees, the self-employed have it a little easier when it comes to getting a financial loan. Many lenders are betting to support the application for loans for self-employed, with the aim of giving them the stability or thrust they need to move forward with their own business or start from scratch as an independent entrepreneur.
Table of Contents
- Types of credits for self-employed
- – Mini credits.
- – Loans for freelancers and SMEs:
- – Credits with mortgage guarantee.
- – Lines of credit for self-employed and SMEs.
- – P2P loans.
- – Personal loans for particular projects:
Types of Credits for Self-Employed
For about 10 years, as we have mentioned above, there has been a considerable increase in the number of financial institutions that are committed to grant credit lines to support the self-employed to boost their projects. We talk about:
They refer to those credits that offer small amounts of money, in which you do not need an endorsement for your application and you have a fairly broad return period, up to 30 days. They are called mini credits because the maximum amounts they usually grant are around € 1,200. These loans are usually requested by self-employed workers and small businesses that suddenly have some unforeseen or urgent expenses.
Loans for freelancers and SMEs:
This type of loans for self-employed workers and small and medium-sized companies offer the opportunity to request a fixed amount of money that drives the projects that have continuity in the company. This type of loans are offered by both private and public entities, their interest rates are lower than personal loans for consumption and repayment terms are usually very high, that is, we can repay the loan in years.
Credits with mortgage guarantee.
When the amount of money we need is very high, either because we started from scratch as self-employed or because we need to make a weight reform in our business, we can resort to this type of mortgage-backed loans, in which we will put as a guarantee a good real estate Another advantage is that if a mortgage loan is contracted through a financial intermediary, it is not necessary to justify income.
– Lines of credit for self-employed and SMEs.
These credit lines give the option to withdraw the amount of money we need when we want to pay exclusively the interest generated on that amount, not on the total initially requested.
– P2P loans.
These loans are only granted through crowdlending platforms (platforms created between freelancers who need money for their projects and independent investors who are willing to give them that money and obtain a return on these businesses.
Personal loans for particular projects:
If you are private, not yet autonomous, there is this type of loan that offers us the opportunity to request money, ie liquidity, for a particular project as long as we justify that we have certain income insurance or at least regular.
Requirements to grant loans to self-employed
The common requirements before any public or private financial institution to grant you a loan as self-employed are:
The company must have a minimum annual turnover. The amount you will be awarded will depend on this amount. This case is not applicable to mini credits, since to apply for these requirements are not necessary.
The company must have a certain age to guarantee and prove the work and profitability of it.
And of course the registration of the business must be in Spanish territory, that is, it must be registered in Spain.
We want to make it clear that the requirements and documentation that will ask us to apply for a self-employed loan will be different from one financial institution to another and depending on the type of credit that is requested. But as we see, if we want to boost our business or start with a new one, there are solutions that can make everything very easy for us, loans for freelancers.