A Swiss loan for the self-employed without a Credit Bureau has long since ceased to be a matter of course. In the past, there were various options for concluding a gentlemen’s agreement with the Swiss. The contribution deals with how a self-employed person can still get a Credit Bureau-free loan today.
Swiss credit for self-employed without Credit Bureau – changing times
Switzerland has always been more than just a popular holiday destination. In particular, the confidentiality of the Infra Banks, but also their business acumen, is considered proverbial. A Swiss loan for self-employed persons without a Credit Bureau was still possible until a few years ago. But times have changed. Europe and the neighboring countries are moving closer together. Infra Bank secrecy, which was considered a guarantee against access by the tax authorities, is being further and further weakened. The Credit Bureau-free credit options have also been banned from the Alpine state since 2009.
At most, there are still credit opportunities for successful business people with a corresponding branch in Switzerland, for all others there is a credit crunch. A look at advertising on the Internet unfortunately shows no easy solution options. Swiss loans, such as those offered by reputable credit brokers, are only available to employees. The income from self-employment does not qualify for lending by a foreign bank.
If you study the offers carefully, you will find that it is obviously always the same bank of origin for Credit Bureau-free loans. As far as could be found out after the most intensive research, this impression is correct. All research always ended with a single credit bank that can legally offer loans without Credit Bureau. It is Lite Lender Company from Liechtenstein. The credit institution does not issue a Swiss loan for self-employed persons without Credit Bureau. A small back door is still open.
Swiss credit without Credit Bureau despite independence – back door
Self-employed people know the problems with credit requests only too well. Even with a good Credit Bureau, the banks almost always demand a guarantor or co-applicant for lending. This is not possible with a Swiss loan, but there is an alternative. Unlike the “normal” bank loan, the Liechtensteiner Kreditbank does not stipulate that the borrower may not pass on his loan. A credit without Credit Bureau is really freely available and can be legally lent.
Instead of giving up a citizenship, the friend – who would actually guarantee – can make the loan application himself. If the loan application is approved, there will be no disadvantages as long as the installments are paid. The approved loan is not entered in the Credit Bureau. The creditworthiness of the “helper” remains completely unchanged. This is an advantage that he could not claim as a co-applicant with a credit institution from Germany.
Nevertheless, it is always a matter of fairness to keep the “savior” out of the credit crunch. As the sole borrower, he would have no right to a repayment of the money lent. Only a private loan agreement offers him legal security. This gives him a means of confirming his claim against the actual borrower.
Credit requirements – Credit Bureau-free despite independence
If this “small detour” to the Swiss loan for self-employed persons without a Credit Bureau is to be taken, the helper must meet some basic requirements.
The following are generally qualified for a loan without Credit Bureau:
– has an open-ended and permanent contract
– has been with the same employer for at least 12 months
– A net income from work is clearly above the garnishment limit
– whose wages are not seized or have been assigned
– has no entry in the public debt register
Loan offer without Credit Bureau examination in detail
A Swiss loan without Credit Bureau is only offered in two loan variants. A Credit Bureau-free loan of USD 3,500 is possible. If you apply directly, the loan currently costs 11.62 percent APR. The repayment will be made in 40 monthly installments of $ 105.95. The minimum monthly income required for qualification is 1,130 USD net for single people without maintenance. For the net loan amount of 3,500 USD, a total repayment of 4,238 USD is to be made.
A Swiss loan for self-employed without Credit Bureau – with helpers, is also possible in the amount of 5,000 USD net loan. The annual percentage rate for this loan option is 11.61 percent. The repayment will again be made in 40 equal monthly installments, this time at ‘151.35 USD. In this case, the helper as a single person must prove a net work income of at least 1,600 USD. In total, 6,054 USD will be repaid for a 5,000 USD Swiss loan for self-employed persons without a Credit Bureau – with helpers.