The world of self-employed workers is one of the most punished in our country. Not only do they have to face constant economic difficulties in the absence of government support. But also getting loans can become a real feat.
For this reason, from Particular Lenders we want to offer you the best loans for freelancers. So that from now on, if you work on your own, it will be much easier for you to get financing with which to continue. Would you like to know more about this topic? In that case do not stop reading the following post. Let’s start.
Know the best loans for freelancers
Special loans for this sector
Little by little, the loan market has diversified. So much so that both traditional financial institutions and private equity companies have realized the market niche that exists with this sector. For this reason, loans specially designed for both self-employed and SMEs can be accessed.
In general, this type of credit is offered on certain occasions by some public institutions and by banks.
What are the characteristics of this type of loan?
- They offer clients a type of financial product whose interests are lower than that of other more generic loans. For example, those of personal loans.
- They extend the terms of return so that they are much more manageable. The normal thing is that they reach the age of 15.
Nowadays, mini credits are one of the financial products that are receiving the most in the market. Both between individuals and the self-employed. This type of financing offers the borrower the possibility of obtaining amounts of less than $ 1,200. In less than 15 minutes and to return in a period of 30. Even today, due to the high competitiveness in this sector, some companies dedicated to mini loans have extended the repayment period to three months.
They are not an option to abuse, since their interests are very high (around 1.1% daily). However, they can become a good financial tool to deal with specific economic unforeseen events.
Currently, there are many lines of credit specially designed to offer financing to the self-employed or SMEs. These are products that can be obtained both at the state level (such as the ICO lines of credit) and in traditional financial institutions.
Lines of credit are a different product than loans. In this case, the client (that is, the self-employed person or SME) will have a monthly amount of pre-agreed money that will be renewed every month. Similar to the operation of credit cards.
The client will only have to pay the interest corresponding to the amount spent during the previous month.
High amounts of capital can be obtained through a line of credit. Up to $ 100,000 to be returned in a year with an APR between 5% and 10%.