Not only natural persons, but also entrepreneurs sometimes find themselves in a situation where they need to pay unexpected expenses, but there is nothing to do. Whether due to an unpaid invoice or a very expensive month, there is nothing to take from.

Therefore, there are micro-loans for entrepreneurs and self-employed to help them with an unexpected situation. These quick loans usually offer the same conditions for entrepreneurs and employees, so don’t worry about paying unnecessarily more for the loan. As in other cases, it depends primarily on your overall creditworthiness.

One of the favorite micro-loans for entrepreneurs is Good Credit

One of the favorite micro-loans for entrepreneurs is Good Credit

With this company, you can borrow up to 15 000 dollars, without a guarantor or purpose. The longest repayment term for Good Credit is 28 days with the possibility of extension – for a fee, of course. If you borrow 6,000 dollars with the longest maturity, you will pay a total of 8,042 USD at APR 4458.30%. However, the Good Credit often offers discount events and competitions, so the resulting price of this loan for entrepreneurs can be significantly lower.

Good Finance is the ideal choice for entrepreneurs. Unlike other micro-loans, you can borrow up to USD 19,000 with Good Finance with a three-month maturity. Whether you are applying for the first time or several times, you will have your money in your account in minutes.

At the first request you will be delayed only by completing formalities, which will not take you more than 5 minutes. If you borrow USD 7,000 from Good Finance as a new client with a 28-day maturity, you will pay a total of USD 8,764. The APRC for this loan is 1,732.08%.

ViaSMS
The popular SMS Loan ViaSMS will offer a maximum of USD 8,000 to new clients, regular clients can borrow up to USD 30,000 via a message. ViaSMS offers the first free loan, which is why it is an ideal solution for entrepreneurs. For a repayment loan, for 30 days maturity, count on APR 1270%.

How is a business loan different from a classic loan?

How is a business loan different from a classic loan?

The loan for individuals is usually based on your income, which you often prove through payslips. Companies often want to know your length of employment and contractual employment in addition to your earnings, because it all affects the creditworthiness of individuals.

For entrepreneurs, it is necessary to verify creditworthiness and income slightly differently and there is a greater risk that the recovery of money on the entrepreneur will be a bit more difficult. This is one of the reasons why loans for entrepreneurs are often more expensive or less accessible.

However, non-banking companies have already noticed that there are now more and more entrepreneurs adapting quickly to their needs, so you don’t have to worry about being unlucky as a sole trader or a business owner and you will have to make a profit on everything.