Loans for the self-employed who come from Switzerland are a way out of the credit crunch. Foreign loans have been part of the success of the German economy for many years. Best banks shy away from credit risk and overlook the future prospects of companies. The article explains how to apply for a foreign loan and what alternatives there are for entrepreneur loans.
Loans for the self-employed from Switzerland – the classic Lite lender loan
Anyone looking for a loan as an entrepreneur in Germany does not have it easy. The commercial banks are extremely “conservative” when it comes to lending. Only with the BWA “armed” no one has to go to the house bank. An entrepreneur is only creditworthy if he can demonstrate comprehensive economic forecasts and sufficient security. Credit protection is required that only a few are able and willing to provide.
For many entrepreneurs, self-employed loans come from Switzerland. Of course, a Lite lender bank wants to invest their money safely. Nevertheless, collateral is not the only measure of all things. Full order books and good quarterly figures clearly count when lending. The interest rates are adjusted to the credit risk and remain affordable. However, the cantonal banks do not grant direct loans. The help of a credit intermediary is always necessary.
Foreign credit through the intermediary
Loans for self-employed persons from Switzerland cannot be applied for directly from one of the cantonal banks. The reason for this is simple. Foreign banks cannot check customer information without the help of a domestic intermediary. Money can be easily transferred from one country to another. It is different when looking at the personal data of citizens. Similar to the way the German tax authority receives no legal information about German tax evaders, so do the foreign banks.
The help of a credit broker is therefore the way out for both sides. The intermediary collects the information and compares the credit options. He then transmits the data, answers any queries and ensures that the process runs smoothly. The services of a credit intermediary are only paid as a performance fee. If he fails with his efforts, there is no obligation to pay.
Alternatives to foreign credit for the self-employed
The USD crisis is having an impact on the market for risk loans. Banks that issue venture capital across borders face significantly increased requirements. The Basel contracts are the basis for the changes in the credit landscape. Refinancing has become significantly more expensive for every commercial investor. As a result, loans for self-employed people from Switzerland are more expensive and difficult to approve.
The market’s solution to the problem was to promote personal loans on a large scale. Private investors are not affected by the Basel agreements. The threads in the background remain firmly in the hands of the Lite lender. The bank, which in the past preferred to grant foreign loans, is now responsible for the orderly process of personal loans.