Installment loan for traders



Although traders are also among the pillars of this society, this often only helps relatively little when it comes to lending. Especially tradesmen who work in an Ich-AG often have very bad chances of getting a loan, because the income is strongly linked to the turnover from the trade. See of critique.

As a result, unlike conventional workers or civil servants, traders have no regular and equal income. If things go badly with one’s own business, the income of the trader is of course also reduced. As a result, the bank loses a high degree of planning security, which is why it is very difficult to obtain an installment loan for traders in the long term. The usual installment loans often only have a term of 90 or 120 days and are intended to bridge a financial bottleneck that results from reduced sales in the trade.

Show more security than employees

Show more security than employees

Traders must almost always provide more collateral for their installment loans than workers, civil servants or employees. This is primarily due to the insecure income, but also because the groups mentioned have a relatively high level of protection against dismissal.

However, if the business of the self-employed breaks down, for example, because there are no or insufficient orders, the entire income of the self-employed also ceases to exist. As a rule, this should be able to be bridged by any self-employed person, at least in the short term, by investing sufficient capital.

However, if this has already been used up or was never available, all that remains is to take out an installment loan for traders. As a self-employed person, you should be prepared to provide additional security. This can be, for example, a car that has already been fully paid off, but a property or house can also be suitable as attachable property.

In addition, the annual income of the trader should, of course, be higher than that of a conventional worker, so that the uncertain income can be at least partially offset by the short-term amount. It is also advantageous if the trader has been successfully doing his job for more than 4 years. As a result, the bank gains more trust and tends to issue the installment loan for traders.

The success of the trade is decisive


In order to receive an installment loan for traders in the long term, the success of the business is decisive. Ultimately, this applies to all amounts of credit, but this factor is even more important for medium and long-term loans.

The bank must be able to clearly derive from the result of the business that the business is operated successfully with long-term success and that the financial situation of the borrower cannot, therefore, get into trouble in the short term. Then a loan from a bank is also possible. For small loans, it may be more worthwhile to get in touch with friends, relatives or even business partners who can help out with a short-term financial injection.


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