Take out Swiss loan for self-employed.

A Swiss loan for the self-employed is a delicate issue. At least at the moment there is no simple loan option without Credit Bureau, as for dependent employees. The article deals with credit opportunities and alternatives.

Swiss loan for self-employed – starting point

Swiss loan for self-employed - starting point

A Swiss loan for the self-employed cannot be conveniently realized through the offers for foreign loans without Credit Bureau. Ordinary loan offers without Credit Bureau, as far as is known they all come from the same loan provider, are inextricably linked to a dependent employment relationship. A Credit Bureau-free loan is only given to those who have been employed by their employer for at least 12 months.

In a market where there is only one provider, the credit provider sets the rules. As far as is known, Lite Lender is the only foreign credit bank that can legally grant Swiss loans in Germany without Credit Bureau. The self-employed are fundamentally excluded from taking up these loans.

Swiss credit despite independence – the possibilities

Swiss credit despite independence - the possibilities

An entrepreneur could easily and legally get a Swiss loan for the self-employed who has a branch in Switzerland. It gets complicated for everyone else. In the case of a loan without Credit Bureau, there is neither the possibility of a co-applicant nor a guarantee to secure loans. Even the offer to pledge valuable property security does not lead to the desired loan.

The only option would be to ask a “straw man” to take out the loan. The advantage of this possibility is that the helpful friend or spouse would have no fear of negative consequences. Provided that the actual borrower pays the installments on time. A Credit Bureau-free loan is of course not entered in the Credit Bureau. This means that the helping person’s creditworthiness is fully preserved.

Legality of assistance and fairness

Legality of assistance and fairness

If you think about this possibility, you should not forget the mutual fairness and legality. First of all, it is generally legal to take out a Swiss loan without Credit Bureau and to lend the money on. The credit bank does not make any regulations about what the borrower does with his loan. This is different with many other “normal” loans. It is not uncommon for the borrower to be obliged to take out the loan only in their own interest. A legal “lending” would be impossible.

If a helper agrees to take on this credit risk, he must have the following requirements:

– Be employed by the same employer for 12 months or more
– The employment relationship must be unlimited and not terminated
– There must be no garnishment of wages
– The labor income must significantly exceed the seizure allowance
– An entry in the public debtor register must not exist

It is a requirement of fairness not to expose the helping person to the liability risk alone, at least by means of a private loan contract. This proves at least the clearly honest will to offer the helping friend a legal basis in the event of loan liability.

What does a Swiss loan without Credit Bureau offer?

What does a Swiss loan without Credit Bureau offer?

A Swiss loan for the self-employed – via the above detour – is only granted in two loan amounts. A Swiss loan of USD 3,500 or USD 5,000 is possible. Each borrower can only use one Credit Bureau-free loan. A combination of the offers is excluded. When applying directly, the credit bank calculates 11.62 percent APR for the loan option with a credit of USD 3,500. A single person without any maintenance obligations must prove a net labor income of at least 1,130 USD. The repayment is to be made in 40 constant monthly installments of $ 105.95. A total of 4,238 USD will be repaid for a 3,500 USD loan.

If the Credit Bureau-free loan of USD 5,000 is to be used, the bank calculates an effective annual interest rate of 11.61 percent. For this loan, a single applicant must prove at least 1,600 USD net work income. Again, the Credit Bureau-free loan is repayable in 40 constant monthly installments. The amount of each installment is 151.35 USD. (As of October 21, 2013). A total of 6,054 USD must be repaid for a net loan of 5,000 USD.

How can I apply for a Swiss loan?

In principle, the Swiss loan for self-employed can be applied for by the helpful person, directly or through a credit broker. All of the above costs apply to direct application without a credit intermediary and without third-party costs (certification – cash payment).

If the offer is taken up by a credit broker, for example, via voucher, additional costs arise. On average, credit intermediaries charge about three percent of the loan amount as an agency fee. A Swiss loan for self-employed in the amount of 3,500 USD thus costs a little more than 100 USD agency fee.

Loan for commission – brokerage commission

Always charged when an item or a service has been brokered

Always charged when an item or a service has been brokered

In business, commissions are always charged when an item or a service has been brokered by a third party. This third person is financed by the commission payments, which is why they are usually measured as a percentage of the total amount. The commission is always due when the contract between the buyer and seller actually came about, whereby the intermediary himself has no influence on the subject of the contract.

The best-known commission in Germany is certainly the brokerage commission, which is often charged by the real estate agent when renting an apartment or in other real estate transactions. A loan for the commission can help to cover this additional financial burden, since the purchase contract is usually only concluded when the agent has also been paid. Usually the commission is always borne by the buyer, although in some cases it is also divided or only the seller bears the fees.

The amount of this commission is due in part at the discretion of the intermediary, but there are also statutory maximum limits for commissions, which are measured as a percentage of the total. A loan for the commission can therefore be taken up in accordance with the commission amount due, since this can be calculated independently by the buyer in advance. Usually, however, this is also clearly numbered in advance, also because it cannot be bypassed by the buyer or seller, unless no intermediary is used for the business.

The commission must be paid in full

The commission must be paid in full

Brokers usually do not offer installment payments, which is why the entire amount of the commission must be paid directly to the broker. Depending on the percentage value and the amount of the financial equivalent, financing makes sense, also because in addition to the commission, the purchase itself has to be financially managed. As a rule, the loan for the commission is a conventional installment loan, which can therefore be freely determined in part. For example, the amount of the monthly installments can be directly influenced by choosing either a long or a short term by the borrower.

Commission can be taken up without difficulty

Commission can be taken up without difficulty

The loan for the commission can be taken up without difficulty with the appropriate creditworthiness. In order not to miss the purchase of a property or any other object, the commission should in any case be available directly when the contract is signed.

Many brokers insist directly on the commission if the commission is successful, which is why a payment term of 7, 14 or 30 days is usually only granted with a high commission. Depending on the size, the commission can either be transferred or deposited in cash. In any case, you should have the transfer of the commission acknowledged when making a cash payment so that you also have proof on your side that you have actually paid it.

Credit with instant approval without credit bureau

A loan with an immediate approval is possible without credit bureau. Who offers these credit options, what are the differences to the “ordinary” online loan, the article provides the necessary information.

Instant loan without credit bureau – an ordinary online loan?

Instant loan without credit bureau - an ordinary online loan?

In terms of advertising, the “credit with immediate approval without credit bureau” is becoming more and more like the usual online loan offers. However, the contemporary presentation of the offers must not hide the special position. A loan without credit bureau, although it is heavily advertised, is a special loan. The offer to accept people with poor credit bureau increases the risk for the lender. The risk is offset by significantly higher lending rates. The money without credit bureau often costs more than an ordinary overdraft facility.

The credit comparison shows the clear price differences. Without credit bureau, credit options from 11.61 percent APR are currently being granted. A normal online loan with the same loan amount can already be found at a fixed interest rate of 4.75 percent APR. Without credit bureau, the money costs more than twice as much.

It is not only in terms of credit costs that there are clear differences between non-credit bureau loan offers and normal online loans. Long terms keep the rates low. Usually, the duration of online loan offers can be chosen very flexibly. Repayment periods of up to 120 months are possible even with small loan amounts. The term is specified for a loan without credit bureau.

Credit conditions without credit bureau

Credit conditions without credit bureau

The majority of loans without credit bureau come from Liechtenstein. Choice options exist for the loan amounts. A variant with a net loan amount of 3,500 USD is offered. The second variant works with a payout amount of 5,000 USD. In terms of annual interest rates, both loan offers are almost the same. For the smaller loan amount, 11.62 percent effective annual interest is payable, for variant two it is 11.61 percent.

Both loan offers work with a fixed term of 40 months. Although early repayment of the loan is possible in principle, the lost profit must be compensated for by prepayment interest. A loan with a net loan amount of $ 3,500 is to be repaid in constant monthly installments of $ 105.95. The repayment amount is 4,238 USD. For the net loan amount of 5,000 USD, 40 constant monthly installments of ‘151.35 USD are to be paid. The total repayment amount is 6,054 USD.

The loan can be applied for directly from nice lenders in Liechtenstein or via any credit broker. The application options via an intermediary are usually more convenient. The loan application cannot be made directly with the provider as a loan with immediate approval without credit bureau. The credit check is only carried out after receipt of the written application.

Meaningfulness of the immediate approval

Meaningfulness of the immediate approval

Each credit check is based on a catalog of requirements. In the case of ordinary online loans, the data entries are automatically compared with the requirements by a computer program. Without credit bureau, this data comparison is not so easy to automate. Most credit intermediaries therefore still check manually. The immediate confirmation is made, usually a little later, by e-mail.

There is no general answer to the question whether there are advantages to applying for an immediate loan without credit bureau through a credit intermediary. The credit intermediary can reflect the trend, but the credit decision is made exclusively by the paying bank

Over-indebtedness: will the positive file be effective?

The Hamon law passed in September 2013 put an end to the debate: the National Register of Credits to Individuals (RNCP) should be created in late 2014. For years, the creation of this “positive file” has agitated parliamentarians and institutions lenders. Now, the question is no longer whether or not there will be a positive file but whether it will be effective.

The objective is twofold: On the one hand to better manage, but also stimulate, the distribution of credits, on the other hand to help fight against over-indebtedness of households by educating subscribers and by creating transparency and security procedures for pretenders.


First flat expressed

debt loan

It will the fact that the RNCP does not include mortgage loans be an obstacle to its action? According to Erwin Dulanty, vice president of Lite Lenders: “There is a problem of consistency here. But this criticism must be tempered because mortgage credit is difficult to conceal. The lender is always concerned with whether the borrower is the owner or the tenant. ”Other questions arise: The RNCP should only take over the debts concluded after its creation. Prior art.

The positive file would thus be almost empty during the first weeks. Not offering visibility on past credits, will the file play its role of safeguard with the lenders?Not having a faithful image of the customer in front of them, will they be able to avoid granting the “excess credit”? In addition, the implementation of the RNCP could initially lead to an increase in the number of over-indebtedness filings (232,000 in 2013), since over-indebted people will be identified more quickly. Will this mean that it is inoperative? According to some analysts, the positive file would not allow to assess the number of loans refused thanks to it, and therefore to be able to estimate the decrease in excessive lending.

Likewise, it seems difficult to say for each borrower what is the “excess credit”, each having their own repayment capacity. and therefore to be able to estimate the decrease in excessive lending.Likewise, it seems difficult to say for each borrower what is the “excess credit”, each having their own repayment capacity. and therefore to be able to estimate the decrease in excessive lending. Likewise,


What then will be the advantages of the positive file?

“It’s a start, after 20 years of procrastination,” recalls Jenny Kuntz, president of the federation of Cream associations. According to him “the RNCP will be created over time and will evolve. For the moment, we have to accept it as it is. ”Most countries today have a credit register. Only a few countries still underdeveloped, and France, had not set up this register. If it is true that the proportion of credits per inhabitant is low in France, which makes say that our country is little indebted (approximately 2000 dollars per person), It should also be remembered that people with active credit generally borrow are more important than elsewhere .For example, the average amount of an over-indebtedness file in France is 38,000 dollars, against 15,000 dollars in Belgium.

In all cases, the positive file will allow a more precise visibility of the state of indebtedness of French households. His critics claim that he suffers from serious handicaps. His supporters claim that he will participate in achieving three objectives: to supervise and stimulate the production of credits, to reduce debt levels and default in regulations, to reduce the number of over-indebted households.