Should interest rates be fixed on the loans?


A common question regarding mortgages is whether it is best to choose variable or fixed interest rates. Historically, it has often paid off not to fix the interest rate, but there are exceptions. Here we look at some of the arguments for fixing the interest rate or not.

When to fix the interest rate?

When to fix the interest rate?

In any case, there are three ways in which it may be worthwhile to fix the interest rate:

1. When you want to be sure what the mortgage rate will be

For many households, home mortgages are a significant expense. If the household budget is tight and the mortgage is large, rising interest rates pose a threat to the household economy.

Many who choose to lock the interest rate do so for the sense of security it provides. If you lock in a reasonably low interest rate of say 5, 7 or 10 years without it feeling expensive, you can plan the economy more easily. Many are prepared to pay a little extra to be able to sleep well at night.

2. If you are going to stay for a long time

A prerequisite for fixing the interest rate is that you plan to stay for a long time in your home. If you think it may be relevant to move within the next few years, it is unwise to fix the interest rate. You can pay an interest rate difference if you settle a mortgage with a fixed interest rate in advance. How long you intend to stay can be indicative of how long you are to fix the interest rate.

However, sometimes you can move restricted loans to a new home. In this case, make sure of this before you commit the mortgage loan by talking to your bank. We can also advise when it is possible to move a bonded mortgage.

3. When mortgage interest rates are low

When mortgage interest rates are low, it may be a good idea to borrow. Historically, it has been difficult to time. Various experts and newspapers have often published their forecasts on how interest rates will develop.

Unfortunately, many are often wrong. A seemingly low interest rate has often turned out to be even lower. However, when interest rates are around zero or when they are minus interest rates, it may be worth considering the risk of interest rates falling much more.

Divide the loan into different maturities

Divide the loan into different maturities

It is also possible to divide the mortgage into different maturities. It is a good alternative to tying the entire mortgage to a certain fixed interest rate if you cannot decide how long you will be fixing the interest rate. For example, you can let a third of the mortgage loan have variable interest rates, fix the interest rate for one or two years for one third of the loan and allow the last third of the mortgage to be fixed for a longer period.

Low interest costs are most important

Low interest costs are most important

Whether you choose fixed or floating interest rates, the most important thing is to choose a mortgage with the lowest interest cost as possible. You can easily compare the mortgage rates of a large number of banks. We help you to lower your interest costs for free so you get more money over to others!

Credit without Credit Bureau: Myth or Reality?

Are you looking for a loan without Credit Bureau? Here you will find the most important information about Credit Bureau-free loans and about some reputable providers.

There is as much uncertainty about no other loan type as about the loan without Credit Bureau. Terms like Credit Bureau, creditworthiness, creditworthiness check and proof of income are jumbled up. This is not the fault of the consumer.

Untrustworthy providers joke the myths that Credit Bureau-free loans are available to practically everyone in every amount regardless of creditworthiness and income.

A thorough education about this form of credit, and why it is not so easy to actually get such loans, is carefully avoided.

Black sheep usually operate on the verge of legality. At worst, they are simply fraudsters. Preliminary costs for whatever services are a sure sign of a lack of seriousness.

The same applies if insurance and other financial products are offered with the indication that this will facilitate Credit Bureau-free lending.

Most of the time it is not really about credit transactions, but about taking out insurance and collecting addresses for lucrative address trading. Loans cannot be brokered at all.

Having said that, contrary to what some consumer advocates say, and Credit Bureau itself, there are a number of trustworthy financial service providers who can actually obtain loans without Credit Bureau.

What are Credit Bureau-Free Loans?

What are Credit Bureau-Free Loans?

A loan without Credit Bureau is always a standardized small loan of $ 3,500, $ 5,000 and more recently $ 7,500.

The loan is usually repaid in 40 equal monthly installments, with the first installment due two months after the loan was taken out.

Credit Bureau-free loans are expensive. The interest level corresponds approximately to that of overdraft facilities.

Not a single credit feature is negotiable. Those interested in credit can only make a selection from the various loan amounts. Small loans are all-purpose loans.

Credit Bureau and other credit bureaus are not involved in the lending process.

A Credit Bureau request is neither made, nor is a notification of the loan being issued. Therefore, the loan is not taken into account when determining the credit score.

However, this advantage does not apply if there are problems with the repayment of the loan. Such incidents are reported to credit reporting agencies and negative entries are made.

However, providers must meet European consumer credit guidelines. In this respect, these are regular loans, the interest of which, however, is significantly above the usual market interest rate.

Where can I get a loan without Credit Bureau?

Where can I get a loan without Credit Bureau?

Which banks grant Credit Bureau-free loans? The answer is: no German banks. Domestic banks are obliged to determine the creditworthiness of their customers in connection with credit inquiries by providing information to credit agencies.

All loans without Credit Bureau come from abroad. Originally, it was probably primarily credit banks from Switzerland that granted these credit products to Germans.

This is where the term “Swiss loans” comes from. At the moment (July 2016) it seems that all or at least the vast majority of Swiss loans come from Liechtenstein.

Private borrowers have two options:

  • You can contact the Lite Lender in Liechtenstein directly online. As far as can be seen, this is the only way to apply for Credit Bureau-free loans directly from the bank.
  • You can also contact a reputable credit broker who will make loan offers free of charge and without obligation.

Lite Lender

The current loan offer without Credit Bureau looks as follows:

Net loan amount 3,500 USD 5,000 USD 7,500 USD
total interest 706 USD 1,008 USD 1,512 USD
total amount 4,206 USD 6,008 USD 9,012 USD
  1. Loan over 3,500 USD: borrowing rate – 10.59 percent, annual percentage rate – 11.12 percent, repayable in 40 monthly installments of 105.15 USD each,
  2. Loan over 5,000 USD: borrowing rate – 10.58 percent, effective annual interest rate – 11.11 percent, repayable in 40 monthly installments of 150.20 USD each,
  3. Loan over 7,500 USD: borrowing rate – 10.58 percent, effective annual interest rate – 11.11 percent, repayable in 40 monthly installments of 225.30 USD each.

The first installment is due in the month after next after the contract is signed. The actual loan term can then be strictly 42 months.

In the loan application, exact information about the personal circumstances, the employer and the employment relationship is expected. Garnishments as well as assignments and other liabilities such as existing loans must be specified.

Among other things, copies of the ID card, the electronic wage tax card or the December wage slip as well as the last two original wage slips with the original account statements, from which the receipt results, are required.

All information reflects the current status in July 2016.

credit Providers

The business area of ​​credit brokers that offer their services online usually includes the brokering of Credit Bureau-free loans.

Credit brokers do not regularly state which banks they work with on their websites.

However, there is a reasonable presumption that the loans brokered without Credit Bureau (almost) exclusively come from Lite Lender.

We currently recommend Agree Bank and Cream bank. Both financial service providers are reputable and do not charge any upfront costs.

Agree Bank claims to arrange most of the loans in Germany without Credit Bureau. The financial service provider is probably the market leader in this segment.

Cream bank is a credit broker that offers a wide range of different credit products. The financial service provider from Halle is rightly proud of professional customer advice. Cream bank’s advisory services should not be refused.

Often there are alternatives to expensive small loans without information, even with Credit Bureau problems. Simple measures such as postponing the loan application by a few months can make it possible to grant normal installment loans.

Customers can also optionally use the modern video identification procedure at Cream bank, which speeds up lending somewhat.

Credit Bureau-free loans brokered by credit brokers are not or only marginally more expensive than a direct loan from Lite Lender.

Those who are not committed to loans without Credit Bureau from the start can benefit from expert advice and, if necessary, achieve a cheaper loan solution.

Who gets Credit Bureau-Free Loans – Loans to Unemployed?

Who gets Credit Bureau-Free Loans - Loans to Unemployed?

The loans are only granted to permanent employees or civil servants. The employment relationship must be permanent. Depending on the loan amount, the employment relationship must have existed for 12 months or 36 months.

There is minimum income. For a loan amount of 3,500 USD, single people must earn 1,150 USD net, with a loan amount of 5,000 USD, the minimum income for single people is 1,600 USD.

If there is more than one maintenance person, the minimum income increases. There are indications of attachment tables and the monthly charges listed above.

The attachable income must in any case be sufficient to repay the loan.

Existing attachments or assignments preclude lending. Loans without Credit Bureau are granted to persons of legal age who are resident in Germany.

The following people do not receive a loan without Credit Bureau: pensioners and people over 60 years old, self-employed (both tradesmen and freelancers), housewives, students, trainees, temporary workers, people with mini-jobs, unemployed people, recipients of Hartz – IV or other social benefits.

Offers aimed at these groups of people are always dubious.

The same naturally applies to people without an income or with only a low income, which is below the income limit set out above for single persons without maintenance obligations.

A joint loan application is just as impossible as co-signing by a guarantor.

Loans without Credit Bureau are only ever given to one person.

Some financial service providers allow credit applications for people with insufficient income if another person is specified. In these cases, the other person is always the borrower and is fully liable.

Credit Bureau no – credit check yes

Credit Bureau no - credit check yes

A common misunderstanding, especially fueled by dubious providers, is that credit without Credit Bureau is synonymous with loans without a credit check or even without a credit rating. Many consumers are therefore looking for loans on the Internet under such terms.

A credit check always takes place. First, it is about regular, sustainable income, which ensures the repayment of the loan.

In addition, the creditworthiness is checked using data from publicly accessible directories. Specifically, this means that loans with an affidavit, insolvency or arrest warrant are excluded from the outset.

The same applies if enforcement measures such as garnishment of wages have been initiated after the final determination of claims.

Applicants must be clear: the Credit Bureau and other credit reporting agencies are not involved.

Otherwise all publicly available information sources (debtor register) will be exhausted in order to get a picture of the applicant’s creditworthiness.

The frequent confusion of credit checks and the involvement of credit bureaus is the reason for the many rejected loan applications and the many disappointed applicants.

There are statistics according to which only two of approximately 170 applications are approved.

How does a loan work without Credit Bureau?

How does a loan work without Credit Bureau?

If the loan is requested directly from a bank, such as the Lite Lender in Liechtenstein, you print out the loan documents and send the loan application along with the requested documents back to the bank, if necessary using a PostIdent procedure.

The bank checks the documents and subjects the applicant to a credit check, but without the involvement of Credit Bureau or another credit agency.

If the check is positive, the requested loan amount will either be transferred to a current account or paid out by post for an additional fee.

For credit intermediaries, such as Cream bank, the process is a little more complicated at first glance:

  1. First, the form for the loan request is sent online. The information required is approximately the same as that of Lite Lender, but is limited to the essentials.
  2. The responsible clerk will check the information provided as quickly as possible, usually on the same working day, and offer the customer advice on possible alternatives.
  3. If a loan remains without Credit Bureau, the documents are passed on to the partner bank of the credit intermediary. As a rule, the financial service provider prepares the loan documents so that a relatively quick commitment can be expected.
  4. Cream bank then sends the customer the credit documents, which must be signed and sent back together with the requested documents. If the video identification process is selected, this process can be simplified and accelerated.
  5. The partner bank then checks the fully completed, signed and signed loan application and, if the result is positive, pays the loan amount in the desired form. The credit intermediary receives a notification of the payment.

How many loans can you have without Credit Bureau?

How many loans can you have without Credit Bureau?

Some search engine users want to know how many loans without Credit Bureau a certain person can take out. The question is easy to answer. There is currently no more than one loan.

Borrowers can use the Lite Lender application form to determine the criteria according to which Credit Bureau-free loans are granted.

We specifically ask about liabilities and existing loans. If the question is answered in the affirmative, foreign banks will no longer issue further Swiss loans.

Instant loan without Credit Bureau?

Instant loan without Credit Bureau?

Fast credit, express credit, 24-hour credit, express credit or instant credit, as good as this advertisement sounds, it only applies to short-term mini loans at best.

In all cases, it has little to do with reality. The payment period for normal installment loans is on average seven working days.

Applicants usually have to wait even longer for the payment of Credit Bureau-free loans.

After a preliminary check, the very complicated credit check takes place without the involvement of credit agencies. Lenders rely on public directory analysis, and it takes time.

In their view, financial service providers are understandably reluctant to provide information on the duration of disbursement of Credit Bureaufree loans.

If they are done honestly, as with the reputable credit broker Cream bank, customers learn that the approval can take a few weeks.

Car loan without Credit Bureau?

Car loan without Credit Bureau?

Special motor vehicle loans without Credit Bureau are not offered. Of course, normal Credit Bureau-free small loans can also be used to at least partially finance vehicles once they have been approved.

However, in many cases, expensive Credit Bureau-free loans will not be necessary in the context of car financing.

In particular, house banks that know their customers will not generally refuse to grant loans even if soft Credit Bureau entries are available.

Because they have the additional security of the motor vehicle as additional security.

Another option is a loan from private to private, brokered by the Intrasavings Bank credit exchange.

The financial service provider also accepts motor vehicles for security. This increases the likelihood that private investors will finance the loan request.

Credit comparison without Credit Bureau?

Credit comparison without Credit Bureau?

Every now and then you read that a loan comparison without Credit Bureau is offered. Of course, consumers can take the trouble to get several specific loan offers.

However, the market for Credit Bureau-free loans is extremely manageable. There are some reputable credit intermediaries who can actually help their customers get loans without Credit Bureau.

Then there is the Lite Lender, which you should contact if you are committed to a Credit Bureau-free loan from the outset and therefore exclude other loan solutions.

As far as can be seen, credit intermediaries mainly use the offers of Lite Lender. In one case or another there may be other partner banks.

The conditions of Credit Bureaufree loans are always standardized. All requests made for a comparison therefore lead to very similar results.

Why Credit Bureau Free Loans?

Why Credit Bureau Free Loans?

It is often said that loans without Credit Bureau are the ideal secondary loans. They do not affect the credit score for future borrowing because they do not appear in any credit bureau as long as the loans are repaid in accordance with the contract.

In addition, they can be kept completely secret from banks, spouses and employers.

Complete discretion is only given, however, if the payment is made by post and the installments are paid by payment slip.

Otherwise, account movements appear on the checking account, which reveal the loan when viewed manually.

Postable payments and payment in installments by means of a payment slip at the bank counter can cause additional fees, making the already expensive Credit Bureau-free loan even more expensive.

Another application example is the prevention of negative features that would preclude further financial scope.

If, for example, the overdraft facility granted has been illegally overdrawn and there is therefore a risk of the current account being terminated, the current account can be closed using a loan without Credit Bureau if normal installment loans are no longer possible.

It can only be decided in individual cases whether loans without Credit Bureau are a solution in these and similar cases.

It is also possible that the borrower will fall even further into debt due to the new loan. Then no further borrowing is recommended, but rather going to debt counseling.

The solution using Credit Bureau-free loans is only recommended if the borrower can still pay the installments after closing the checking account.

Credit Bureau-free loans: serious or fraud?

Employer loan or employer loan to complete your home loan

The employer loan can help you finance your acquisition or your work in the main residence. It is a low-rate loan that can help you close the real estate financing. Find out how to get a business loan, what are the conditions of access and characteristics?

Why apply for a business loan?

Why apply for a business loan?

The employer’s loan can help you finance your acquisition or your work by a credit complementary to the main mortgage of the bank, this at a rate well below that practiced on the market.

To do this, you must contact your collector organization to find out what are the conditions for obtaining the mortgage real estate employer its amount and rate. The agency is free to allocate its aid to the rental sector by renting at preferential prices or mortgage loans whose rates are about 1.5%.

It should be noted that the amount of the employer contribution is limited and fixed annually. This means that if his annual contribution is spent, he will no longer be able to offer an employer real estate loan.

Who can benefit from an employer loan?

Who can benefit from an employer loan?

It should be known that all companies with at least ten employees, not under the agricultural regime, must pay a 0.45% share of the payroll as part of the construction 1953, this tax amounted to 1% of the payroll, which is why it bears this name). So all the employees of these companies can benefit from the advantages related to the 1% (in our case the help with the mortgage); but, the employer must respect an order of priority between its employees, according to the wages and the family situation of each one.

This benefit is not related to the employment contract so leaving the company does not result in the loss of the real estate business credit.

Characteristics of the employer loan

Characteristics of the employer loan

The employer loan can have a duration that varies from 5 to 15 years. Its rate is 1.5%, to which must be added the fees and insurance, such as a conventional home loan.

The 1% can not be your main home mortgage and the housing that it finances must become, if it is not today, your main residence that is to say that you must live there at least eight months a year in order to benefit from it for your mortgage.

Loan despite parental allowance

Due to the limited creditworthiness, the application for a loan is usually rejected despite parental allowance at the house bank. If you want to rule out waiting times and a rejection, you don’t have to do without a cheap loan. In the free financial market you can easily get a loan despite parental allowance and without checking the creditworthiness and rely on other options for protection.

Make important purchases with a loan despite parental allowance

Make important purchases with a loan despite parental allowance

The new earthling is born and the costs automatically increase. The initial equipment was not cheap, but the baby has already grown out and many new things are needed in the life of the young parents. Since the income decreases during parental leave, not all purchases can be covered immediately with the available budget. Restrictions and less liquidity during parental leave can be prevented by opting for a cheap loan from a private lender or a foreign bank and comparing the numerous offers here.

The online comparison excludes overly expensive and less flexible loans and the focus on a loan despite parental allowance, which is completely convincing in terms and conditions. It is best to choose a loan with flexible framework conditions and thus give yourself the opportunity to change the repayment at any time during the term or to be able to target a deferral or an earlier repayment of the total amount at the lender.

How to secure a loan despite parental allowance

How to secure a loan despite parental allowance

The creditworthiness or a fixed employment contract with sufficient salary cannot act as security during parental leave. There is so much variety of accepted collateral on the free financial market that an applicant can get a loan even in extremely difficult and seemingly hopeless situations.

To hedge, you can overwrite existing possessions, show savings investments or deposit insurance with capital formation. Those who generally do not have tangible assets or saved money to hedge, name a second applicant in the form or decide on a guarantee. Approval is granted in less than 24 hours, provided the amount of the collateral is based on the loan amount and is therefore convincing.

Microcredit for self-employed and start-ups

Microcredit is a technical term under which differently equipped loans are summarized for very small to small amounts.

These loans are granted to the self-employed, business people and start-ups. Small loans for private individuals are commonly called mini loans or short-term loans.

Microcredit can be divided into two groups.

Microcredit can be divided into two groups.

On the one hand, there are state-sponsored micro-loans that are supported with funds from certain funds. In Germany, for example, there is the microcredit fund, which is also funded by the European Social Fund.

The use of these loans is tied to funding guidelines.

The award modalities are regulated. Applicants must meet certain personal requirements and sometimes the loans are earmarked.

On the other hand, special providers deal with the issue of microcredit.

P2P credit platforms, for example, organize crowd investing to finance certain entrepreneurial projects.

In addition to microloans for private individuals, mini loan providers also provide short-term interim financing for corporate purposes.

Brief history of microcredit

Brief history of microcredit

Microcredit is not a 20th century invention.

Helping new companies financially and providing them with the necessary financial resources is a fundamental concern of the cooperative model developed by Friedrich Wilhelm Raiffeisen in the 19th century.

The idea of ​​a cooperative, solidarity help for self-help, played an important role when Elmar Pieroth stimulated the granting of small loans in Togo. Elmar Pieroth is a German entrepreneur and CDU politician.

The aim of microcredit in this period was to lead people in economically weak regions out of poverty and to give them an economic perspective through independence.

The Pieroth Initiative was followed by other initiatives. The best known is the initiative by Nobel Prize winner Muhammad Yunas for Bangladesh, which led to the founding of the Grameen Bank in 1983.

The World Bank and the United Nations see microcredit as an effective development aid instrument. Both organizations, including other nonprofit organizations, launched microcredit promotion programs in the mid-1990s.

In Europe, the microcredit idea, which was born out of the cooperative principle, was also taken up in the 1990s. The main focus was on promoting start-ups from unemployment.

The Netherlands played a pioneering role. Microcredit programs in the UK, Belgium and other European countries followed.

Germany has had a special microcredit fund since 2009/2010, some of which is financed through European funds. Additional funds come from the Federal Minister of Labor and the Federal Minister of Economics.

The loans were initially processed by the Community bank, and the Green Bank has been responsible for it since 2015.

Loan from the German microcredit fund

Loan from the German microcredit fund

For many start-ups and small businesses, it is almost hopeless to get a bank loan to finance business purposes.

There are a number of reasons for this.

Entrepreneurs and small business owners often only need loans for small amounts. However, many banks refuse to lend small commercial loans from the outset because the effort involved is too high.

In addition, service industries such as catering or retail find it particularly difficult to obtain commercial bank loans.

Other causes can be found in the personal circumstances of the applicant. Small businesses are often created out of unemployment. In such cases, the founders lack the necessary economic background.

The rejection can also be caused by creditworthiness problems. Applicants may have negative Credit Bureau entries and / or poor Credit Bureau score values.

The microcredit fund is intended to make financing possible where, despite a coherent corporate concept, the banks fail to grant loans or only offer them at unacceptable terms.


Microcredits are mainly given to small businesses and start-ups. The focus is on financing start-ups from unemployment, women and people with a migration background.

Companies that train or want to train should be given special consideration according to the guidelines.

No group of people is excluded when granting microcredit.

Fundamentally, all entrepreneurial activities can be financed, from pre-financing larger orders to investments in expansion.

My microcredit: the conditions

The Federal Ministry of Labor and Social Affairs calls the microfinance supported by the fund “my microcredit”.

As of July 13, 2017, the following conditions apply:

  • Loans from 100 USD to 20,000 USD.
  • Interest rate of 7.9% plus a closing fee of $ 100.
  • Individual adjustment of the term to the possibilities of the company.
  • Maturities up to four years possible.
  • Special repayments and early loan repayment possible at any time.
  • Payment breaks after prior application are not excluded.
  • Collateral such as guarantees or references is often required.

A special feature is the borrowing in small steps. The desired loan is not immediately paid out in full.

Example: First, a first loan of $ 1,000 and a short term is given to pre-finance a first order.

With proper credit processing by the entrepreneur, further follow-up loans are possible. The total credit volume may not exceed $20,000.

Application and award procedure

For microcredits according to the guidelines of the fund, there are a few special features when applying and when lending.

Interested parties submit the loan application to verified microfinance institutions. Green Bank is responsible for the award. The microcredit fund guarantees the loans issued.

The fund is revolving. This means that repaid loan amounts are available again.

Here is an overview of the application process:

  • Credit application to a verified microfinance institution.
  • Online application possible in many cases.
  • If necessary, take advantage of advice from the microfinance institute.
  • May provide collateral.
  • Credit decision usually within one working day after receipt of all documents at the microfinance institute.
  • Forwarding to the lending Green Bank.
  • Payment of the approved loan amount by the bank within a few days.

In particular: microfinance institute

The application is not made directly to the Green Bank, but to a microfinance institute. Microfinance institutions are independent financial service providers without a banking license. You have to go through a comprehensive verification process.

The main loan terms are the same everywhere. All microfinance institutions also check the viability of the business idea and whether there is a serious business intention.

Many microfinance institutions are limited to certain regions. Others offer their services nationwide.

However, the additional services that the individual microcredit institutions provide in addition to the actual lending differ.

Some financial service providers have specialized in some industries. Others organize the granting of microcredit to founders with a migration background or to women.

There are microfinance institutions that offer training or help their clients create business plans and other documents.

Tip: Find out in detail about the services offered by individual microfinance institutions before you apply for microfinance.

You will find a comprehensive list on this page of the Federal Ministry of Labor and Social Affairs.

Microcredit despite a negative Credit Bureau?

A microcredit guaranteed by the fund for self-employed persons with a negative Credit Bureau is not impossible from the outset.

However, the individual microcredit institutions will take a close look at the individual case.

Lending without additional security will very often be excluded.

As a rule, it will be a guarantee from a solvent person whose income and other creditworthiness requirements meet the requirements.

It becomes critical when hard Credit Bureau entries are found. Affidavits, bankruptcy or arrest warrant, even outstanding claims make the chances of a micro-credit go to zero.

Microfinance from the federal states

In addition to the microcredit fund set up by the federal government, some federal states are involved in promoting start-ups and small businesses through microfinance.

This funding is mostly in the hands of publicly controlled financing institutions. These can be state banks, investment banks or so-called development banks.

The programs of the federal states differ fundamentally from the federal fund.

As a rule, the lending processes are similar to normal banks. This means that there are certain requirements regarding credit history and creditworthiness that not every founder can meet.

Astro Finance entry fee

Astro Finance entry fee

The state-sponsored microcredit is not suitable for every founder.

For example, a founder may need more start-up funding than microfinance institutions are willing to give, or more debt from the outset.

The terms offered may also not fit the corporate concept. Or the standard interest rate is not sustainable according to the corporate concept.

In such and similar cases, a look at Astro Finance Bank’s promotional products is recommended. The funding backdrops 067 and 058 are particularly relevant.

With the ERP start-up loan (067), loans of up to $ 100,000 are funded for investments and operating resources. The interest rate is between 2 and 3%. Equity is not required. A repayment-free start-up year is offered.

The funding is aimed at start-ups, including freelancers, successors and young companies. Restructuring cases are excluded.

Further details on this support program can be found here on the Astro Finance Bank portal.

With the ERP capital for foundation (058), a loan with the character of an equity is granted up to an amount of 500,000 USD.

The beneficiaries are start-ups, business successors and young companies up to three years after starting business.

Interest rates are very low. In addition to the actual interest, a guarantee fee of one percent per year applies to the loan amount that has not yet been made. This fee is included in the APR.

The financing has a term of 15 years. A fixed interest rate is granted for ten years.

All details and further links can be found on this Astro Finance Bank website.

Microcredit for the self-employed without state aid

Microcredit for the self-employed without state aid

Of course, there is the possibility that some commercial banks, cooperative banks or savings banks also offer special microcredits for start-ups or existing companies.

There are certainly a number of financial products on the free market that enable short-term interim financing.

In this article, we want to focus on a few microcredits that are offered to businesses, freelancers, and entrepreneurs on the Internet.

Lite Lender Bank

Caution! Currently (as of December 2017), the supply pages for this credit product are apparently not available.

For corporate purposes, a microcredit can be applied for online from Lite Lender Bank. The product is called Up Credit.

Traders or self-employed persons with regular income are eligible to apply. A personal guarantee from the applicant is required.

Lite Lender Bank’s commercial loan is suitable for short-term interim financing. The regular term is 30 days. The loan with a maximum amount of up to $ 20,000 can be repaid in six installments.

It gets exciting with the costs. The annual percentage rate is 13.90% (as of August 2017).

If you choose standard processing, you will receive the credit for the loan amount within 3 to 5 days. Aside from the APR, there are no other costs.

The express transfer within 24 hours costs 99 USD. Installment payment options (extension of the term to 60 days) are charged at 199 USD.

Companies that have not been in business for three years need a credit certificate. The fee for this is 5% of the loan amount.

Of course, every interested party is free to decide whether this microcredit is eligible.

In our view, this microcredit offer is definitely not an option for start-ups and young companies.

P2P microcredit for the self-employed

Credit exchanges that broker P2P loans also target self-employed people, freelancers, traders and founders.

P2P loans are loans that are financed by private donors.

Interested parties submit a project description to the credit exchange. The loan project will be reviewed and discontinued if necessary so that private investors can bid on it.

The lending is formally carried out by a bank taking into account German legal provisions.

The interest rates for P2P loans are not low. The award procedure takes some time. Nevertheless, this type of loan is suitable for the self-employed, especially if a particular investment project is to be financed with a relatively small loan requirement.

Best Bank, for example, also finances start-ups if they have a loan requirement of $ 1,000 or more. Term: from twelve months. The interest depends on the creditworthiness.

Funding Circle (formerly Zencap) is a P2P platform that deals exclusively with the provision of credit to self-employed people. The application can be made online and will be decided within 48 hours.

After a positive credit decision, the capital is available within seven days.

Microcredit is available from 5,000 USD. The maximum amount is $250,000. Short terms from six months are possible. The interest rates are currently given as “from 3.79% interest annually”.

However, the P2P loans brokered by this credit exchange are not for start-ups. The company must have been active for at least two years and have an annual turnover of 50,000 USD.

In addition, balance sheets must be available according to the HGB.

Real collateral is not required. However, joint and several guarantees from owners or shareholders are apparently expected.

Exclusion criteria are declining business developments, liquidity bottlenecks or a lack of equity. An equity ratio of at least 5% to 10% is expected.

Funding Circle has good reviews in the trade press and from customers. However, the application process is relatively complex.

Annual accounts, business evaluations over longer periods of time and the like must be submitted.

Therefore, the credit exchange may be more suitable for larger debt financing than for mini loans.

Microcredit: uncomplicated loans for self-employed and founders

Take out a loan despite negative Credit Bureau

Anyone who thinks about a loan application has to think a lot in advance. The question of whether you can get a loan at all is particularly important. It is not uncommon for people who have a bad Credit Bureau to try to apply for a normal loan. This project fails due to the strict guidelines of the banks, which want to keep the credit default risk as low as possible.

Applicants should know that a bad Credit Bureau can severely depress creditworthiness and the risk of rejection is very high. It is also good to know that every specific application is noted in the Credit Bureau, which in turn can lead to rejection. Those who have a bad Credit Bureau and have already been rejected by the bank may want to take out a loan despite a negative Credit Bureau.

What does the customer need to know about the loan?

What does the customer need to know about the loan?

The loan is given abroad despite a negative Credit Bureau. In the past it was common for the loan to be granted only in Switzerland, nowadays the loan often comes from Lichtenstein. But nobody interested in this loan has to go to Lichtenstein. It is enough to find a broker who specializes in this loan and can answer all important questions.

Customers receive a form from this, which the bank will later need to decide whether to grant a loan or not. Information that must be entered here must always be true. If this is not the case and the bank gets it out, the loan must be repaid immediately despite the negative Credit Bureau and a lawsuit can arise.

The information includes information about yourself and questions are asked regarding the loan. The loan amount, the term and the monthly installments should be considered in advance, since these must be entered here.

People who are excluded from lending

People who are excluded from lending

Customers who receive unemployment benefits, pension payments or training salaries are immediately rejected by the banks. They either earn too little or receive payments from the state. These payments are not attachable and do not count as income. Banks abroad have to do without Credit Bureau, but not other forms of security such as a fixed salary. This is necessary so that the loan can be secured.

Loans without Credit Bureau query

Due to the changed demand, numerous banks and savings banks today also offer loans for special target groups. In particular, private consumers with a limited credit rating have enjoyed a significant increase in credit products in recent years, which are also available with a limited credit rating.

It is not uncommon for loans to be granted today without a Credit Bureau query. In addition to the numerous large banks and savings banks, there are now also an increasing number of small banks on the market that offer credit offers even without Credit Bureau. The online banks on the Internet have revitalized the lending business significantly in recent years. Today, borrowers can not only enjoy a generally low interest rate level, but also access loans with an enormous degree of flexibility.

Today, more and more providers are offering flexible credit products that can be used to determine the loan amount and use in addition to the term. Since the supply of credit without Credit Bureau query in particular has increased significantly, borrowers should make use of a comparison on the Internet before signing the contract.

Compare loans without Credit Bureau query – this should be paid attention to

Compare loans without Credit Bureau query - this should be paid attention to

When comparing multiple offers, borrowers should definitely choose an offer with a low effective interest rate. The effective interest rate is the most important comparison criterion for many borrowers today, since it defines the total loan costs. The effective interest rate depends on various factors today. In addition to the creditworthiness, the term, the loan amount and the processing and administration costs are also taken into account when determining the effective interest rate.

Loans without Credit Bureau inquiry are granted without Credit Bureau information, but here too a positive credit rating is a basic requirement. The creditworthiness of the borrower is primarily defined here by the monthly income. Borrowers who have a constant monthly income can also benefit from attractive interest rates.

In addition to creditworthiness, the choice of term and loan amount is also crucial. Borrowers who opt for a short term and a small loan amount can benefit from a lower effective interest rate, which is mainly due to the lower risk for the banks. However, a high credit default risk is often associated with high loan amounts and long terms, so that borrowers can expect higher effective interest rates.

Compare loans without Credit Bureau query on the Internet and save a lot of money

Compare loans without Credit Bureau query on the Internet and save a lot of money

By targeted comparison of several offers, borrowers can save a lot of money today, loan calculators make a quick and free comparison of several offers possible. The credit comparison with a loan calculator enables individual information to be included in the comparison, so that the search can be narrowed down quickly and the best individual offer can be filtered out.

Budget bill for credit


If you apply for a loan, the credit institution uses a household bill to calculate whether the customer could even pay the loan installments. But the borrower himself should also do a budget calculation for the loan beforehand. Based on this calculation, he will see whether his monthly household budget is sufficient for the loan installment. If the borrower is not yet sure how much he would like to apply for, a household bill will help.

Individual items of the budget statement

Individual items of the budget statement

Based on the monthly net income, the cost of living for the family members – adults and children – who have to live on the net income are included. If there are already regular payment obligations such as for a loan, electricity bill, telephone costs or newspaper subscriptions, these will be deducted first. This is followed by the total rental costs or expenses that an owner also has to pay each month. And finally, monthly expenses for membership and savings contributions, insurance costs and other scheduled expenses are deducted.

With such a budget bill for a loan, you can also get an overview for yourself, which could give rise to various considerations. The best way to tell when it is getting tight and why. Where there are still potential savings is also clear after a few thoughts. Are the costs of living for the family a little high, or can a lot of money be saved with insurance policies through cheaper policies?

Flat-rate amounts for the cost of living

Flat-rate amounts for the cost of living

But the bank also prepares such a budget bill for the loan. The bank works with defined lump sums for the cost of living. For the first person living in the household concerned, 650-700 USD per month are accepted. For each additional member of the household, 200 USD must be deducted monthly. This means that, for example, a 4-person household needs at least $ 1,250 in living expenses. Very often, a customer request fails with the budget invoice for the loan, as the bottom line is that the bank has to determine a negative amount.