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The search for a serious offer, for a loan without Credit Bureau for the self-employed, is extremely difficult. As far as all research shows, legal only grants a credit-free loan. The article provides an overview of the credit opportunities that derive from this, which Credit Bureau-free loan offers are extremely risky.

Loan without Credit Bureau for self-employed – difficult loan search

Loan without Credit Bureau for self-employed - difficult loan search

Entrepreneurs who “only” run a small business find it extremely difficult to grant loans. Despite the clean Credit Bureau, they constantly run in front of locked doors. Influenced by the Basel contracts, hardly a reputable credit institution dares to lend after starting a business. It is even more difficult if the credit rating query at Credit Bureau is negative. Even credit banks from Germany that are willing to take risks reject the loan request without being checked.

The negative attitude of the credit providers alone would make a serious loan offer for a loan without Credit Bureau desirable for the self-employed. Unfortunately, as far as is known, at least currently no reputable foreign bank offers Credit Bureau-free financing for freelancers and entrepreneurs. The large-scale advertising for loans without Credit Bureau is aimed exclusively at employees subject to social security.

As far as can be traced, there is only ever one credit bank behind the reputable loan offers of the intermediary for employees. The loan without Credit Bureau is being advertised by Lite bank from Liechtenstein. Unfortunately, the self-employed are excluded from direct lending. Even a solvent guarantor or property collateral cannot help with the loan. However, a “proxy loan” would not be excluded. In this case, instead of guaranteeing, a close confidant qualified for the loan would apply for the loan.

Loan without Credit Bureau as proxy loan – requirements

Loan without Credit Bureau as proxy loan - requirements

A direct application for a loan without Credit Bureau for the self-employed would be rejected by Lite bank. The self-employed are not admitted as borrowers. A credit request from a close confidant who does a job that is subject to social security contributions would be permitted. His employment relationship must exist for at least 12 months and must not be limited. In addition, there must be no garnishment of wages and the income from work must not be assigned.

Another important factor for the credit check is a clean public debt register. If the applicant fulfills all the requirements, the credit bank has no objection to lending the money further.  The borrower can freely dispose of a loan without Credit Bureau from Liechtenstein. There is no restriction to act only in your own economic interest – as with ordinary loan offers.

As a representative loan, the loan can be applied for without a Credit Bureau for self-employed persons in the amount of 3,500 USD or 5,000 USD. For 3,500 USD, 11.62 percent are effective, for 5,000 USD, 11.61 percent effective APR. The interest rate mentioned includes all credit costs with a repayment period of 40 months and direct application. If you want to apply for Credit Bureau-free financing through a credit broker, additional third-party costs arise.

Avoid business loans of dubious origin

Avoid business loans of dubious origin

A small loan that cannot even be applied for often does not meet the expectations of those interested in credit. Anyone who searches intensively will find offers for a loan without Credit Bureau in unlimited amounts. Portals that advertise in this way offer direct contact to private investors. This possibility to get a loan from private donors does not correspond to the serious offer of portals like Across Lender or Spin Lender.

Only the establishment of direct contact is offered. Only the publication of the credit request is paid. Other services of the portal operator, such as the ID check of the contractual partners, are not included. Investors can be contacted either directly via email or via an unfiltered forwarding. If a credit agreement is concluded, the portal does not charge any fees.

Most are not aware of the risk of getting a loan without Credit Bureau in this way. You only see the credit opportunities without agency fees and the sometimes low interest rates. The risk arises from the lack of control by a neutral body. In theory, the entire loan can be processed anonymously. A credit without Credit Bureau for the self-employed, which gives the opportunity to come about without an ID procedure, can have criminal consequences.

To prevent money laundering, the ID check has been introduced by law for all lending. If you circumvent the post-ID procedure, you run the risk of becoming the last link to be identified in a money laundering group. The penalty for aiding money laundering can be up to five years’ imprisonment.

Hence the urgent appeal that a loan without Credit Bureau for the self-employed can be legally “tricked” as a proxy loan. Leaving the safe ground of legality is not worth a loan.


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