Loans for
Freelancers & Self-Employed
Freiberufler or Selbstständig? Variable income makes loan approval harder, but not impossible. Learn what banks require and find lenders who work with freelancers.
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The 2-Year Rule and Requirements
Minimum Business History
Most German banks require 21-24 months of self-employment history before approving a personal loan. This is the 2-Year Rule that filters out new freelancers.
Why? Banks need at least 2 full tax years to assess your average income and business stability. New freelancers are seen as too risky without this track record.
Required Documents
| Document | German Term | Purpose |
|---|---|---|
| Business Assessment | BWA | Current year financial snapshot |
| Income Statement | EUR (Einnahmenuberschussrechnung) | Profit/loss calculation |
| Tax Assessment | Steuerbescheid | Last 2 years official tax returns |
| Bank Statements | Kontoauszuge | Business account, 6-12 months |
| Business Registration | Gewerbeanmeldung | Proof of registered business |
Options for Freelancers
P2P Lending (Auxmoney)
Peer-to-peer platforms often have more flexible criteria than traditional banks. Private investors fund the loans and may accept freelancer applications.
- More flexible income assessment
- Higher interest rates (8-15%)
- Amounts up to 50,000
Traditional Banks
Deutsche Bank, Commerzbank, and Sparkassen do lend to freelancers, but require the full 2-year history and complete documentation.
- Lower interest rates (4-8%)
- Stricter requirements
- Personal banker relationship helps
Business Credit Line
Instead of personal loan, consider a business credit line (Kontokorrentkredit) tied to your business account for flexibility.
- Flexible borrowing
- Interest only on used amount
- Requires business account
KfW Loans
Government-backed KfW loans for business purposes may be easier to obtain and offer favorable rates for self-employed individuals.
- Lower rates (subsidized)
- Business purpose required
- Applied through your bank
Tips for Freelancer Loan Approval
1. Apply with your Hausbank
The bank where you have your business account knows your cash flow. They are more likely to approve than a bank without history.
2. Time your application well
Apply after a strong income period. If Q4 was great, apply in January with fresh BWA showing good numbers.
3. Consider a guarantor
A employed partner or family member with stable income as co-signer can significantly improve approval chances.
4. Start with smaller amounts
A 5,000 loan is easier to approve than 30,000. Build a repayment track record, then apply for larger amounts later.