A loan as a self-employed person? You want to start as an independent entrepreneur but you are looking forward to a
renovation or you want to take over a business? Which can! Self-employed entrepreneurs must, however, meet several conditions if they want to be eligible for a starter loan or a loan based on their independence. That makes sense somewhere as you cannot guarantee that enough income will flow in every month. This is referred to as additional conditions.

Become self-employed and borrow money

Become self-employed and borrow money

A distinction must also be made between:

  •  self-employed person who takes out a loan for personal purposes
  • Self-employed person who takes out a loan for a renovation or wants to become self-employed

Different conditions apply to both. If you want to become self-employed, you can usually count on government subsidies. It is therefore important that you first request information from your local service. Specific procedures must be followed to secure a starting self-employed loan.

If you want to take out a loan as a self-employed person for private purposes, the application has already been simplified somewhat. It is also often required that you can present a decent annual statement or that you must have been self-employed for at least 3 years. You do not have to have a house as collateral.

Independent loan for private purposes

Independent loan for private purposes

Finding out which loan best suits you as a self-employed person is a time-consuming affair. For people who have recently become self-employed, it is not easy to get a loan or a mortgage. That is why we suggest you visit or contact a loan broker. A loan broker in the Netherlands with good credentials is: Good Finance.

Some of those additional conditions may be

at least 3 years self-employed with reliable annual figures or working for employer

The company specializes primarily in comparing different loans. In this way you come to a loan that suits you best according to your needs and requirements. They offer a free transfer service which can be arranged within 24 hours. Do you want to know more about this? Then you can request a free quote without obligation.

If you consult another lender, you must meet several conditions in order to be eligible for a self-employed loan.

And what in Belgium

And what in Belgium

If you have just become a self-employed person in Belgium as a main occupation, it is almost impossible to get a personal loan for something, let’s say a simple laptop or iPhone. Then you may still have 20000 euros in your account, they will not give you a loan. I wanted to buy a laptop with a value of 500 euros and an installment in 3 items. I had told them it worked out so cheaply (interest-free payment) and I didn’t have to use my private money. I did have a document that stated that I still had a cash reserve, my expected monthly income and any collateral that amply exceeded the budget of 500 euros.

Mrs. was very friendly and advised to give me my private bank account number. But that wasn’t the point. I gave the account number of the case that in the meantime existed for 8 months. There was only room to fill in my monthly income which was certainly sufficient to finance the project in this case, the payment of the laptop. A click on the button and the screen effectively changed to red! “Sorry ma’am, you can’t buy the laptop on installment.”

So if you think you can take out a loan as a self-employed person, forget it. Forget about that mortgage! For this you need to be self employed for at least 2 years. But then the choice between banks is still very limited and the interest is quite high. In principle you must have been a self-employed full-time person for 3 years and that is to say with a stable income. At that time you can compare on the road and mortgages.

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