Credit from business evaluator


Most banks have a problem with lending to a self-employed person. In contrast to employees subject to social security contributions, monthly income is not guaranteed. It is subject to fluctuations and can also be seasonal, depending on the industry. Before the banks granted a loan to a self-employed person, they checked their business analysis, or BWA for short.

What is a BWA?

What is a BWA?

The BWA is a business evaluation that provides information about the company’s financial situation as it is currently. Here the income and expenditure are compared so that the bank can see whether the company is successful or not. But for a loan with BWA, the bank also needs the bank statements of the past few months. In addition, the creditworthiness is also checked at Credit Bureau. If everything looks promising, it could work with a loan.

Internet Banking

Internet Banking

Because the branch banks are least willing to take out a BWA loan, it is worth taking a look at the Internet. Here, banks also lend to self-employed and freelance workers. Before doing so, however, all offers should be compared well, because there are differences in interest rates and the remaining conditions. A loan with BWA is already somewhat more expensive than a conventional installment loan. It is therefore worthwhile to make a direct comparison using the online search engines.

Peer to peer

Peer to peer

There is also support for the self-employed in the peer-to-peer sector. The private investors are happy to grant a loan with BWA, because they know the needs of the self-employed and know how difficult it is for them to get a loan. In the past, there have been many successful loans, including to self-employed people.

The Swiss loan

The Swiss loan

A Swiss loan cannot be arranged. The loan seeker can save an inquiry because a Swiss loan cannot be applied for by the self-employed. The foreign banks only accept dependent employees. This is due to the income risk for the self-employed. The income of a self-employed person can be seized within the legally prescribed allowances. The problem with self-employed people is that it is never certain what their monthly income is. A loan from abroad is therefore simply impossible.