The self-employed are those who work on their own, those with their own business and whose working conditions are very different from those of employed persons. That is why they have financial products created specifically for them. Not having fixed income secured on a recurring basis, for example through payroll, causes banks and other finance companies to seek solvency in other ways. For this reason, at Igreigre we help you in the search for loans for freelancers by selecting those that are best valued in the sector.
Online credits for workers with their own business
If you are looking for financing for freelancers on this page you have all the information you need to know. Follow our advice and we guarantee you can get the money you need.
List of Loans for freelancers
- No need to change banks
- Amount from € 4,000 to € 60,000
- Up to 8 years term
- Interest from 7.18%
- No commissions
- No linked products
- Up to € 2000
- Up to 30 days
- Immediate response
- Without travel, online
- Amount from € 800 to € 10,000
- Up to 10 years
- Interest from 15%
- Supports West African Loan Group
Credit Currency Now
- From € 750 to € 5,000
- Flexible in payments
- Up to 4 years
- Interest from 24%
- Online application
Quick Loan MoneyMas
- € 2,000 to € 5,000
- Up to 3 years
- No commissions
- From € 750 to € 40,000
- From 7% interest
- Maximum repayment term 5 years
- No commissions
Online personal loan
- From € 3,000 to € 75,000
- Up to 8 years
- Rate from 8.13%
- Without study commission
- Requires direct debit of payroll
Loan Now You
- Amounts range from € 5,000 to € 60,000
- Time up to 10 years
- It has no commission for opening, study, or for early amortization or cancellation
How much money can a freelancer request?
The maximum amount that a freelancer can request will depend on their financial situation, economy and above all their solvency.
In addition, the plan of each freelancer is different, one may need only € 10,000 while another 10 times more.
In any case, a personalized risk study is always carried out. The amount of money that is granted in a loan for self-employed is conditioned to these factors.
Once the self-employed person registers in any business or professional activity, he must comply with his state tax obligations.
The self-employed are taxed on the Personal Income Tax (IRPF), where installment payments and annual declaration are made.
Regarding the performance of economic activities, it is calculated according to one or another method, we are going to see them:
Direct Estimate : Returns are determined according to the procedure used in Corporation Tax. Taxes depend on income, including own consumption and subtracting the expenses incurred.
Objective Estimate : Regardless of the volume of income you have, you pay a fixed amount according to objective parameters such as the number of workers who carry out an activity.
It constitutes the income from the business activities of individuals. These parameters are set by the Ministry of Economy and Finance for each type of activity.
They ask me for endorsement for being autonomous
The problem of the self-employed is that since they do not have stable income, many financial institutions and banks require guarantees.
These guarantees that are requested in loans for the self-employed are adapted according to the risk level of the person requesting the financing. The usual thing is that they are personal guarantees where it is not necessary to contribute any good.
However, sometimes in higher amounts additional guarantees are requested such as a property, pledge of shares or participations in an investment fund.
Do I have to have a minimum billing to apply for a loan?
No, but it depends on the amount of the loan and the destination of the money. The important thing is that at the accounting level you generate enough profits to show that you can pay the debt.
I can request a freelance loan if I have a company
Loans for freelancers are exclusively aimed at self-employed workers, that is, individuals who work in their own business.
Even so, entrepreneurs as well as other people with their own businesses (limited companies, anonymous companies, etc.) have access to this financing.
We must differentiate the loans for the self-employed from the business loans.
While the former are granted to individuals, the latter on the contrary are granted to businesses, normally limited partnerships.
Documentation necessary to apply for a loan for freelancers
The self-employed worker must provide the following documentation in the funding request.
Photocopy of registration as a self-employed person where the seniority in the company is seen.
Income declaration of the last 3 years and last payment to social security of the self-employed receipt
Presentation of the last quarters (VAT, personal income tax) in order to demonstrate stable and periodic income.
It is also common to have to present a business plan and budget to justify the investment you are going to make.
In case of having signed other financial products you must show that they are up to date (without defaults)
Requirements to be met by the self-employed to apply for a loan
The self-employed is a type of worker who performs economic activities for profit, that is, on his own account and who thereby intends to earn a living.
The self-employed are also called sole proprietorships and self-employed workers .
The self-employed obtain a series of advantages such as having control of decision-making, being able to set their work hours without having to follow orders from their bosses.
However, they suffer a disadvantage compared to the rest of the workers, they do not have a work contract and therefore their income is not assured at the end of the month.
Consequently, if their economic and business activity does not allow them to obtain sufficient daily income, they may face financial problems.
And indirectly, having low income will also affect them when requesting a loan from banks and other financial entities.
If the self-employed person does not have a minimum and regular income, a guarantee or guarantee will be required.
The bank guarantee is an operation where a guarantor (the bank) undertakes to assume the fulfillment of the debt payment in the event that it does not pay it.
Types of loans for freelancers
Without the self-employed, the business fabric of Spain would not be what it is. In fact, 85% of workers in our country work for the self-employed, which shows the importance of the self-employed group despite how mistreated they are by the administration.
Aid for freelancers is scarce and those that exist are granted with restrictive requirements.
Regarding loans for the self-employed, it should be noted that each entity establishes its own requirements and conditions, amounts, and terms that may exceed 200,000 euros.
Depending on the level of risk of each project, the guarantees provided, the entrepreneur's plan and its characteristics, you can get one amount or another.
All this without forgetting the annual turnover of the self-employed.
Also note that there are several types of self-employed, the most important being self- employed and corporate self-employed.
Even so, they are not the only ones as you will read below:
Self-employed workers : They are people who run their business in their own name and can hire other workers. They can carry out activities included in the First Section of the IAE (commercial activities, manufacturing, etc.)
Self-employed companies : These are usually larger businesses being constituted through a limited company where their liability will be limited to the capital stock contributed and the assets owned by the company.
Worker partners do not contribute to Social Security as employed workers, but must be registered in the Special Regime for Self-Employed Workers (RETA).
The companies formed by several partners, these will only be listed according to the percentage of shares of which they have effective, direct or indirect control of the company.
Self-employed professionals : They are those who manage the so-called liberal professions which are classified among those that are collegiate, that is, workers who contribute through their colleges' mutuals and those that are not collegiate.
These freelancers work for more than one client and can even work from home (architects, lawyers, economists, etc.)
Agricultural self-employed : Those people who carry out activities related to agriculture.
To do so, they must register with the Special System of Agrarian Self-Employed Workers or SETA.
They must meet a series of conditions, for example have a farm in their name and receive from it at least 50% of the total income for carrying out the farmer's own tasks or those complementary, provided that the income originates directly from the agricultural activity carried out on the farm does not fall by more than 25% of the total income and the work time allocated to the agricultural sector exceeds half the total time of their work.
Self-employed collaborators : They are the family members included in the second degree (up to the third degree in the case of workers of the Special System of Self-Employed Workers) with consanguinity, adoption, affinity who perform tasks with the self-employed worker personally, regularly and directly but without being paid.
To register, you just have to go to Social Security as a collaborating family member, not being necessary to register with the Treasury.
Then you will have to deliver the family book as documentation that demonstrates this family bond.
Dependent self-employed : Those who depend almost entirely on a single client.
Entrepreneurs and professionals who can bill a single customer for 75% or more of the total revenue they receive.
They cannot have workers under their responsibility and must sign a contract with the client where their situation is reported. This contract must be registered with the Public Employment Service.
These self-employed are also called Economically Dependent Worker or TRADE.
In any case, entrepreneurs are a vital part of our economy, an engine that we do not always know how to take care of.
Supporting this employment model as well as the entrepreneurial initiatives that accompany them should be priority number one, through grants and subsidies for freelancers.
If not, the current trend where there are fewer and fewer entrepreneurs will remain firm.
Finally, indicate that before requesting an autonomous loan you must analyze, compare the market, see the commissions, interest rates charged by each product.
That is why at Igreigre we provide you with our loan comparison tool for free.
In this way you can get the best loans for freelancers through our complete and updated comparison, where you will see in detail the conditions of each financing, adapted to each project and need.
Alternatives to freelance loans
If none of the aforementioned loans for self-employed attract your attention, we advise you to take a look at our article on personal loans and private equity loans.
Although as such they are not directed exclusively to the self-employed, they will still be able to access.
Loans for freelancers are a type of financing offered by banks and other financial entities to those who have their own business.
And although there is a wide range of solutions for the self-employed, these will have more complicated conditions than the view for employees or pensioners.
The lack of fixed and above all stable income is a risk that many credit institutions take into account.
Therefore, if you are looking for a self-employed loan, we advise you to use our Igreigre guide and tips to obtain the one that best suits you.