A 28,000 USD loan for the self-employed is a common loan amount that is requested again and again. Many banks have meanwhile adapted to the wishes of the self-employed and present themselves cooperatively.
Despite all of this, it is not a matter of course that a loan for self-employed is granted 28,000 USD. Prospective customers should therefore have a good credit rating.
The credit rating – tip the scales
Every loan requires a good credit rating from the borrower. This is no different with a 28,000 USD loan for the self-employed. Because only a good credit rating ensures that the loan for self-employed 28,000 USD can also be repaid.
For self-employed and freelancers, however, it is not enough if they have a positive Credit bureau. They must be able to prove their income and expenditure exactly. This information is used to calculate how high the risk of default around the 28,000 USD loan for the self-employed is and whether it can be granted.
Income and expenditure must be proven with the help of income tax certificates and balance sheets. If you are not very familiar with this, you should ask your tax advisor for help.
The latter can compile the relevant documents so that the taking out of the loan for self-employed persons can be carried out smoothly.
Compare offers exactly
For example, the Bank of Scotland already offers a self-employed loan of 28,000 USD with an effective interest rate of 1.95 percent. With a term of 84 months (7 years), the monthly rate would be USD 356.66. The borrower benefits from a well-designed loan offer that does not include any processing fees. Furthermore, special repayments are possible at any time free of charge. And early repayment of the loan can also be made at any time free of charge.
Agree Bank has another interesting offer. It has an effective interest rate of 2.20 percent. The monthly rate is USD 359.69 for a term of 84 months.
The offer of the Targo Bank is just as good. The effective interest rate here is 2.45 percent, the monthly rate is 362.73 USD. If you compare this offer with Postbank’s offer, there are only a few changes. Postbank works with an effective interest rate of 2.47 percent, which would mean a monthly rate of USD 362.98 over a term of 84 months.
28,000 USD loan for self-employed – tip
When comparing, you should not only pay attention to the effective interest rate. The product details can also be very important for a loan for self-employed 28,000 USD. So it has to be seen how long the independence must exist and which documents have to be submitted.
This can vary from offer to offer. But under the menu item “Product details” such acceptance guidelines and evidence can be read and compared exactly.