More than just a few months, the Income Tax proves the financial situation of a certain individual in a margin of 1 to 2 years. Even if the final average earnings are relatively low and the loan granted is of a lower value, the financial institution will tend to contain interest.
That way, the bank will be aware of the nature of your work and the source of your money. Interest rates may also be relatively better.
Stay tuned when applying for a freelance loan
Be careful of scammers
Self-employed people need to analyze the financial institutions they will borrow from. The ideal is never to make any type of deposit in advance. It is possible that you pay and never receive the promised amount. In addition to not getting the necessary money, you will lose an amount, making your situation worse!
If the loan is made on websites, note possible spelling errors or if the company provides different means of contact. If possible, test your email and phone first to see if they are true. In addition, doubt any value much lower than that practiced by the market.
Pay attention to the Total Effective Cost (CET)
Total Effective Cost is the rate that unites all charges and expenses produced in credit operations offered to individuals, micro and small businesses, self-employed and small businesses.
Some companies have lower interest rates and thus attract the self-employed. However, by adding the fees imposed by these financial institutions and other charges, the Total Effective Cost can prove to be much higher. Thus, at the end of all installments, the loan will be more expensive than at another institution.
Therefore, it is important to compare the Total Effective Cost on each loan. Only he will be able to indicate the real value of the operation.
Learn about loan types
It is generally easier to obtain the loan when the self-employed person has already built relationships with the bank. This is because the financial institution is aware of the client’s transactions and average earnings.
Online platforms are generally simpler and less bureaucratic to apply for a loan. Some approve the transaction in just one day, with little proof of income.
Microcredit aims to help small entrepreneurs to start or invest in their own business. With it, it is possible to pay the debt with the profit of the business. In addition to enabling a good loan with long-term payment, microcredit is an opportunity to expand the company, diversify business or increase working capital.
Pledging good presents the same idea as refinancing. However, the guarantee is obtained through the possession of a jewel or some other very expensive object.
The only institution capable of pledging assets in Brazil is Good Finance. It is possible to do the evaluation at the agency and leave with the money at the same time. In addition, the interest on the loan for the attachment is much lower.
Personal credit for self-employed
Personal credit for self-employed does not require proof of the use of money, only proof of income. It is the best way for those who need quick cash, as the proof can be made through some bank statements.
Secured self-employed loan
The secured loan is also known as refinancing. In it, you just need to place some asset as collateral. If you are unable to pay the loan installments, the asset is sold and your debt is paid off. Because it offers security to financial institutions, the secured loan generally bears much lower interest and longer payment terms.
The asset to be refinanced can be an apartment, house, land or vehicle. It is necessary to analyze the conditions of each bank since the assets only become collateral if they meet certain standards (such as model, year and location, in the case of properties).
The self-employed person may not have as many loan options as a formal worker, but he still has many options. But it is important to choose serious companies and financial institutions so that the dream of expanding a business does not turn into a nightmare.
Now that you know everything about self-employed loans, how about knowing the trends in the application of interest for the year 2018?