How Many Credits and Loans Can You Have Together?

You need money? You can take a loan or a bank loan or a non-bank loan. However, when the amount borrowed is too low, the problem arises where to get extra money. Can we borrow them again in this situation?

Non-bank loans and those offered by banks are granted on specified terms. We have to meet them to receive money. The requirements may be more or less restrictive. Most often there are more requirements when it comes to higher sums. When we borrow small amounts, our creditworthiness does not have to be very high – we will take a loan even with a minimum salary.

Creditworthiness and the amount and number of loans and credits

Ile kredytów i pożyczek można mieć razem?

Most often, to borrow money, we must have a certain creditworthiness. This term refers to our ability to repay the loan taken on time, along with additional costs – interest, commission and other fees.

It is from our creditworthiness depends on how much money we will be able to borrow. The better we earn and the smaller the financial burden we have, the greater our creditworthiness. Banks check it in several ways. With lower amounts, we fill out a special statement in which we indicate our income and expenses. For higher amounts, we must already provide documents confirming our income, for example a certificate of employment, the last PIT, an account statement.

In addition, the loan company will check our creditworthiness and other databases. If in the past we have repaid our loans and loans in a timely manner, then we build our positive credit history, which testifies to us well as a potential customer. However, when we had difficulties in repaying some installments, we can even meet with a refusal to grant a loan or a loan.

When can we borrow more?

Therefore, when we have good credit standing, we can borrow a larger sum – both in one and in several different loans and loans in the same bank or in several different ones. So we can have a mortgage and some cash loans.

Banks each time check the creditworthiness of their clients and issue a decision on granting or not granting a loan. When, according to the bank, our ability is too low, we can refuse or the bank will offer us a lower amount.

Several non – bank loans at the same time

However, the case looks different when it comes to non-bank loans. Many non-bank companies offering loans such as payday loans and installment loans reserve that you can only take one loan at a time. Therefore, when we apply for another loan, we will receive a refusal.

However, we can take a few non-bank loans in several different loan companies. Of course, we must then calculate whether we will be able to afford the repayment of such a commitment. In addition, information about your loan will be recorded, so it can also affect our creditworthiness.

Loan for the self-employed without credit check

Freelancers and the self-employed are not always easy in today’s professional world and society. The advantages are obvious, you are independent, you are your own boss and you do not have to follow any instructions, but unfortunately that is only half the story. Because especially at the beginning of self-employment you often have to overcome many difficulties and hurdles. This is especially true in financial terms, after all, cars, food, office supplies, etc. have to be paid for themselves. Thus, it can take a long time before the business idea to thriving small business first large sums are achieved.

Become financially independent with a loan for the self-employed without credit check

This financial hurdle is for many a big dilemma, even a knock-out criterion for starting a business. However, to ensure that more people dare to switch to self-employment and have an easier life during the first period, many banks and credit institutions now offer a loan for the self-employed without a credit check. This will allow start-up companies to have the best possible start in the business world. Big loan collateral, z. But real estate, time deposits or goods are usually not available, because most of the equity is spent on building up the business.

Nevertheless, banks want to make sure of the idea of ​​the applicant, they therefore request a business plan. Here, the banks can convince themselves of the idea of ​​the founders and assess the risk of default of the loan. Nevertheless, there should not and should not be a negative entry in the nationwide uniform Schufa database. In addition, an income tax assessment has to be enclosed with the application. In the following, the general conditions and conditions for a loan for self-employed persons without a credit check are explained in more detail.

The possible framework conditions for a self-employed loan

The maximum possible loan amount for a self-employed loan without a credit check is between 1,000 and 50,000 euros. As far as the repayment term is concerned, start-up founders are relatively flexible and can freely choose terms of between 12 and 84 months. For the comparability of credit offers from different banks, the effective interest rate is a key factor. Depending on the bank, this currently ranges between 6 and 15 percent.

After the application has been submitted and a corresponding review and grant of the loan, the loan amount will be made available to the applicant in full. The start-up entrepreneur can freely dispose of the funds provided, that is, spend them for example for advertising purposes, acquisition or other aspects. The repayment of the loan is generally made when sufficient funds are available to the self-employed. This will help founders to start building their business.