Many freelancers experience that it is difficult to take out a loan, for example for a car or home renovation.
At lending companies there are indeed opportunities for freelancers to borrow money.
In the past, banks were very reluctant to lend money to self-employed people without employees because the income of self-employed people without employees is dependent on orders and can therefore fluctuate. In addition, not all freelancers have a safety net if they become incapacitated for work or are temporarily out of work.
The labor market has changed considerably in recent years, a permanent job for an indefinite period of time has almost become an exception. Employers do not quickly give a permanent contract and the number of self-employed people has grown explosively. In 2017 there are already more than 1 million self-employed people without employees and this number grows between 40,000 and 50,000 annually.
To be able to continue to provide financing to consumers, lenders will have to change along with it and this is happening. lenders mediates for various lenders who make it possible for self-employed people to borrow money. This financing can be provided for both business and private purposes.
What is needed as a freelancer to borrow money?
In order to make it possible for self-employed people to borrow money, extra documents are required. The required additional documents may differ per lender. In any case, they need the annual figures for the past 3 years, with which the bank can make a good estimate of the income. The reason for this is that the income of a freelancer may be less certain than that of consumers with a permanent contract, there is an increased risk for the money-maker that the freelancer can no longer meet the payment obligations. Curious about your options? Feel free to request a free quote and we will inform you by e-mail which offer we can make.
Mortgage for freelancers
Taking out money for a mortgage is actually the same as taking out a loan. It has become increasingly easier for self-employed people to take out a mortgage in recent years. Also for taking out a mortgage, self-employed persons must prove annual figures for the past 3 years, then the average income can be calculated.
With a mortgage with a National Mortgage Guarantee, the options for providing a mortgage to a self-employed person are the greatest. With a mortgage with NHG, the lender has extra security, so that they run less risk if the property has to be sold for whatever reason.
Borrowing money for the self-employed
As a freelancer, you can borrow money through lenders, in the form of a personal loan or a revolving credit. You can use this loan for a car, refurbishment, transferring other expensive loans or extra money. If you want to borrow money as a self-employed person, it is important that you are at least 25 years old, that your company is 3 years old and that you have a positive equity in your company. If you have any questions, please do not hesitate to contact us. We are happy to be of service!