The best loan solutions for freelancers 2018
Does having an activity as a freelancer mean having difficulties accessing credit? Fortunately no. In fact, there are loan solutions for self-employed with VAT number. Let’s see how they work.
Different types of products can be included under the hat of self-employed loans with VAT number. This category includes loans with promissory notes, fast loans based on the signature of promissory notes, executive securities with a forced nature which, in the event of insolvency, give credit to the beneficiary’s assets.
Terms of financing with bills
The loan promoted is therefore configured as a form of financing which entails the signing of promissory notes by the applicant. Debt securities that represent the loan guarantee. Given the presence of bills, the bank has the possibility of easily referring back to the customer in the event of non-payment of one or more installments.
This happens because bills of exchange represent an executive title with respect to the assets that are placed as collateral for financing. In practice, if the debtor does not regularly repay one or more installments, the movable or immovable property of his property will be foreclosed.
In this way, the bank or financial company easily regains possession of the granted capital, selling the assets that are foreclosed. A condition that makes lenders quite available to those who request a loan with bills of exchange, given that it is an operation that protects the lender very much.
The role of bills
In summary, we can say that bills of exchange are significant guarantees for credit institutions for the purpose of granting a personal loan. It is therefore possible for a bank to issue a loan with bills of exchange also in favor of a self- employed worker.
Indeed, we would like to remind you that unlike those who can boast an employment contract, self-employed workers may encounter greater difficulties in accessing credit. The reason is given that, being unable to claim a demonstrable fixed annuity, they are considered as subjects with a higher risk of insolvency.
But how do the loans for self-employed with VAT number changed? Loans with bills of exchange are not finalized, this means that the applicant is not required to justify the loan request or to explain what the destination of the money received will be.
The amount that must be repaid with an amortization plan that provides for monthly installments and can extend for a maximum of 10 years (120 months).
Since their issue, the debt securities which represent the method of payment of the loan must comply with the stamp duty. Otherwise the bill of exchange will not be valid and the bank will not be able to request the expropriation of the debtor’s assets.
pros and cons
But why choose financing with bills? Loans changed are advantageous first of all because they are fast and because they are also accessible to those who, like freelancers, do not have a paycheck. However, there is a downside to the rate, fixed for the duration of the loan. The interest is higher than that applied to traditional cash loans.
The reason is related to the greater risk of the product, related precisely to accessibility by those who do not have a paycheck or are reported to credit bureau as a bad payer.
The presence of bills can also be an advantage. This is because in the event of financial difficulties, the borrower can ask the bank to change the amortization schedule. In fact, it is possible to refinance one or more bills of exchange, so as to postpone the payment of the corresponding installments.
At the same time, however, resorting to self-employed loans with VAT with bills of exchange can be a disadvantageous operation precisely due to the presence of debt securities. In case of changed payment, the credit institution can request the immediate attachment of the debtor’s assets.
The necessary documents
What do you need to apply for loans with bills? A central point when discussing loans for self-employed with VAT number and promissory notes in particular is the alternative guarantee to the paycheck. In the specific case of self-employed workers, who have not accrued severance indemnity, it is necessary to present an active life insurance policy for at least two years.
When applying, therefore, it is necessary to present not only the documents certifying the income (paycheck, tax return or pension slip) but also the documentation certifying the presence of additional guarantees. For example, if the applicant holds a life insurance policy, he will also have to produce a copy of the policy.
If, on the other hand, you decide to opt for a mortgage on the house, you will have to bring all the documents relating to the ownership of the property to the bank or financial institution.
How pawn credit works
Among the alternatives linked to loans for self-employed persons with VAT number, it is also possible to include credit on pledges. What is it about? Of a product that is based on the customer’s choice to commit a precious piece of furniture. The above is subjected to an evaluation by a professional. Considering his opinion, the amount is then disbursed.
Once the installments have been repaid, the customer can redeem the asset, remembering to present a bearer policy that is provided to him at the time of signing the contract. The lien credit allows you to access very limited figures – generally less than $ 1,000 – without the need to present real estate guarantees.
It is very important to remember that the aforementioned loans require the payment of a custodial charge, which varies according to the policies of the credit reality that manages the loan.
Who delivers them? Although it is a somewhat dated form of loan, lien is a loan that can be requested from any bank or financial institution. However, not many institutions are willing to grant it. Among these, however, we must mention Unicredit which provides credit on pawn through its 35 branches of Capital Lender.
The sum is granted in a very short time, immediately after the estimate of the asset that the applicant wishes to commit. The bank also takes care of keeping the object in protected and safe environments.
The loan of honor
Among the solutions to be considered in the context of loans for self-employed with VAT number available in 2017 there is also the loan of honor. What is it about? Of a product regulated by law 185/2000, reserved for under 35s who have been unemployed for at least 6 months.
This loan allows you to open a VAT number and to finance the start-up costs of the business with a partially refundable amount. When it comes to self-employed loans with VAT, however, it is necessary to specify that the loans of honor can be granted both by banks and by public bodies.
In the first case, these are real loans, which therefore also include the application of interest rates in line with market averages. When, on the other hand, loans of honor granted by public bodies are used, the sum is disbursed by exploiting the resources allocated through specific European funds.
Situation involving the application of subsidized conditions such as reduced or zero interest rates. And in some cases, the granting of non-refundable sums is also envisaged, that is, for which reimbursement by the beneficiary is not envisaged.
As part of the Youth Guarantee initiative, funds have been set aside for young NEETs who wish to start an entrepreneurial activity. These are zero-interest loans managed by Best Bank that allow you to obtain sums of up to $ 50 thousand to be repaid with an amortization plan that can extend up to 7 years.
The request must be submitted directly to Best Bank, through the institute’s online platform. When applying, the applicant must also present the business plan relating to the activity he wishes to undertake.
Finally, remember that the Youth Guarantee loans do not provide for the formation of rankings. Applications are assessed in the order of presentation and funds granted until exhaustion.