The Swiss loan for self-employed without Credit Bureau is the uncomplicated form of financing when it comes to taking out a loan as a self-employed person, from which the lender should not ask Credit Bureau in advance. In this, a large number of economic and contractual data are recorded with regard to the financial situation and the borrower’s liabilities, consequently the Credit Bureau results in either a positive ranking, then the borrower is considered a safe candidate, or a negative ranking, which in reverse partly denies the creditworthiness.
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If people are well aware of a negative ranking in Credit Bureau, it can be advantageous if a loan is also selected directly without asking Credit Bureau. Swiss banks have a strong tendency to largely ignore Credit Bureau and, as a result, do not seek any evidence from the borrower about the Credit Bureau entry. Then the income decides whether the loan is accepted or canceled, since this size ultimately accounts for the lion’s share in the evaluation of potential borrowers.
In the case of employees, the income can simply be proven by means of proof of the pay slip, possibly via the employment contract, whereby employees with a permanent job, of course, have a much better chance of applying for a loan, since the bank receives greater planning certainty for the loan term.
The Swiss loan as a way out of a financial imbalance
A Swiss loan for the self-employed without a Credit Bureau, on the other hand, is somewhat more difficult to assess for banks because the borrower has a strongly fluctuating income, which is also linked to freelance work and the success of the company. As a result, the bank has much less planning certainty here than with an employee, because theoretically and practically, income can disappear completely at any time, which means that the borrower could no longer pay his installments.
With Swiss credit for the self-employed without Credit Bureau, it is advantageous if the borrower and the self-employed have been working for a longer period of time, usually at least two to three years, and can record constant profits. This also results in a positive situation for the bank, in which it can better assess the borrower and his financial situation. Proof of your own financial situation and income must always be provided, regardless of whether Credit Bureau is queried in the course of the review by the credit institution or not.
Swiss banks are no exception, which is why this evidence should be available when applying for a loan. The exact conditions can then be recorded at the bank itself or when the application is made, as can the total costs and the percentage interest charge.