The loan for the self-employed for debt restructuring has its own laws, as it differs significantly in the way it is calculated and also how the loan amount is used from retail and consumer loans.
First of all, the loan amount is not used to increase the total liabilities, instead existing loans are either redeemed at a new, lower interest rate or the term is extended – in order to get financial air for investments and more. There is also no classic proof of income in the form of a wage slip. Instead, this information must be able to flow into the credit calculation and credit check via a detour.
The function of business evaluations and tax assessment
For the lender, there are two challenges with the loan for the self-employed for debt rescheduling: On the one hand, self-employment offers significantly higher chances of generating growing income and taking advantage of the opportunities offered by the market. On the other hand, many companies have a very pronounced seasonal pattern, so that a bank statement over a month would not really be meaningful. Instead, the bank’s corporate customer advisors or the credit department use other documents: These can be the business evaluations and figures that the tax adviser has compiled or the tax assessment of the previous year.
Since nobody knowingly wants to pay too much tax, the latter document is a rather conservative confirmation of sales and profits. In addition, the current account statement can be used for the loan for self-employed for debt rescheduling in order to get an overview of the amounts received on the “credit” page of the account.
Does a self-employed loan make sense for debt restructuring?
This loan is a relatively difficult type of loan to consider. The reason for this is that the motives for using it are completely different. On the one hand, the loan can be used to replace a comparatively expensive corporate customer disposition and thereby save interest – which should have a favorable effect on the company’s cost burden. On the other hand, the rescheduling can also be a sign that the previous monthly installments have been too high and that the entrepreneur therefore needs a little more “air” to pay off.
All of this requires a thorough analysis, which is why this type of loan is not available for immediate payment via an internet portal. You can usually start a comparison calculation for this type of loan there, but the lender’s corporate account manager will in any case seek contact before the loan amount is released.