There is not only one loan for the self-employed without a credit check. The often complicated credit check procedure for the self-employed can be avoided in various ways. How to do it is explained in the article.
Loan for self-employed persons without a credit check – setting up a business
When it comes to starting a business, very few entrepreneurs have a thick financial backing. A few USD savings for emergencies. A checking account that struggles with the zero line was the initial prerequisite for many successful start-ups. At first glance, a situation in which no responsible person would grant a loan. The first loan for self-employed persons without a credit check is still possible.
The Good Finance does not want good business ideas to fail because of the financing. ERP loans, as the loans have also been known since 2011, provide the young entrepreneurs with the necessary start-up capital. The creditworthiness of the borrower is not considered. A promising business idea, of course processed in accordance with the requirements, is enough for the Good Finance to guarantee the lending. The executing commercial bank carries only a very limited proportion of risk.
Credit opportunities through correct payment management
Before considering borrowing from credit intermediaries or private investors, a structural problem should be solved. Many young entrepreneurs simply think too much as private individuals. Every invoice is paid promptly and in cash if possible. Of course, the suppliers are happy about the quick payer. But quick settlement of invoices costs liquidity and only brings in a few nice words or a nice giveaway. The goods ordered are usually still in stock for a while before they can be sold.
A properly managed warehouse can be handled once every six to eight weeks. The credit for self-employed persons without a credit check is made possible by a professional merchandise management system and the use of payment terms. The supplier has to get his money on time. However, almost all wholesalers accept payment terms between 30 days and 60 days with their customers.
An extensive credit check is of course not carried out for this. A look at the customer account identifies him as a solvent reliable payer.
Do not let the customer steal the liquidity
Not every sale that goes through the counter is an ordinary stock item. Craftsmen in particular order the goods specifically for installation by the customer. A heating system, to give an example, can cause high upfront costs. The problem can be addressed in different ways. On the one hand, it would be possible for the customer to order the required material himself. In this case you can only earn money from the service. In addition, the customer does not always automatically have access to wholesale.
The alternative is to request a down payment before ordering the goods. A down payment is due upon delivery of the goods. In this way, only personal wages remain from the preliminary costs. Especially trades that focus on the final phase of a construction project should not forego down payments and installments.
The loan for self-employed persons without credit check through the customer down payment is easy to get. In addition, the down payment and ongoing discounts reduce the risk of default.