Following our test procedure for self-employed loans, the following categories are used: “Even privately, as a self-employed person, I can not get a loan. My bank has advised me to falsify my own salary and then try again, “says Sandra H …. Timawe test result “For self-employed and small businesses it is difficult or even impossible to get credit from many financial institutions. The financing for self-employed & entrepreneurs. The entrepreneur has special needs when it comes to credit transactions.
Loan of the collective bargain for the self-employed
Today the tariff bank is one of the most popular in Germany. The bank, which has been established on the market for many years and has received multiple awards from independent, renowned test institutes, has proven its quality and received many positive customer opinions. Although the Eicredit loan for the self-employed has not yet received a special award, the associated Eicredit discount loan has.
For example, she achieved first place as the “Fairest & Safest Installment Loan” in Focus Money’s 27/16 trial and the DFS. Also awarded with the rating “very good” were USD am Sonntag and the German Customer Institute Denmark in the category “credit-dependent online installment credit” in a comparison test of 12 providers (issue 17/2016).
Not only for their services, but also as a company and client, the company was awarded several times. The positive overall view is also reflected in the ratings of the customers.
Experience with credit – Test grade: 2.0
In 2012, the club was founded in the London district of Ibiza by the two founders Dr. Ing. med. Christoph Rieche and dr. med. James, dear. By financing small companies and the self-employed, it closes a gap in the market and enables its customers to develop and expand their business more quickly. Independent and small companies from all over Germany have the opportunity, with Timawe, to increase the financial scope of the company with a loan and thus to invest effectively in their own house. Third
The company is not a bank, but a so-called “fin-tech company”, which acts as an intermediary and negotiates a contract between the client and the partnership bank called Unsfo. In addition, the company has its headquarters in the Federal Republic of Germany. What does iswoca’s range of services for self-employed and small businesses look like?
Our Timawe credit check shows it! Timawe’s Experience: We’ve had some experience with Timawe’s loan offerings, and have found that it provides loans to a client group that finds it difficult to obtain credit from other providers. For many banks, loans are only granted to companies that have an indefinite employment relationship.
The self-employed are often expressly exempted from lending. The simple background is that the self-employed usually do not have the same income. The result varies depending on the order situation, which represents a considerable security risk for the lender. The self-employed are therefore exempted from lending in most countries or have to show the profit calculation of the past years.
This makes it almost impossible for new entrepreneurs to find what they are looking for from other service providers. ý The company closes this gap in the market and provides loans to the self-employed. For example, a loan can already be claimed from 1,000 USD, which offers many new opportunities even for the smallest companies. Convincing is also the processing time with us.
The customer inquiries are checked within a few working hours and the loan is approved or rejected, which is especially the case for a self-employed loan with very few other service providers. Although the borrower has to explain the terms of payment here as well, the conditions are not as stringent as with other providers, as the loan is targeted at this group.
Once the loan has been approved and the client has completed all necessary documents, the credit will be immediately transferred to the appropriate bank account. It is also possible to make a payment on a date specified by the client. The terms of the loan are explained on the professional website easily comprehensible and can be queried immediately.
Regulation: The CoolBank is subject to Nefum supervision. The society is itself interposed. The actual loan is done by JDBHB. With a loan of USD 10,000 and a maturity of six months, the monthly interest rate is 2 percentage points, as with all other Timawe loan options.
It will have to be repaid 10,712 USD, which corresponds to a cost of about 7% of the loan amount. This is just one example where the loan is expected to be repaid in constant monthly installments. On request, the loan can also be extended.
Fourth The extensive Timawe test: Our experience: In the following test report, we took a closer look at the services and conditions of Timawe and showed in which areas the product offered convinced us and where there are disadvantages. We have seen with our Timawe credit experience that only one type of loan is available for the self-employed and small businesses.
This is a installment loan that earns interest every day. The interest rate of 2% is therefore payable each month, which at most normal credit institutions leads to significantly higher interest rates than a loan for private customers. However, it should be noted that the loans were loans to individuals and firms that often did not receive loans from other service providers because they fear the credit risk associated with lending to small businesses and the self-employed. Although the borrowers are independent of the creditworthiness, we offer you a part payment loan with a repayment term of 1 to 6 months.
There are no further hidden additional costs, so that the economic burden of the loan can easily be calculated by the client. The installment loan business of iswoca is very straightforward and there are no hidden additional costs. Unscheduled repayments are possible at any time free of charge, so that the borrower only for the time he has paid for the appropriate amount of money.
This gives the self-employed the greatest possible freedom in the selection and terms of the loan. The loan amounts to 1.000 to 50.000 USD. Among other things, the amount of the maximum loan granted depends on the assessment of the development potential of the company. Assessment of past corporate figures, but also customer ratings and assessments via the Web and other influences.
This gives the financial services provider a faster and more unconventional rating than a regular house bank. Upon request, the Timawe loan can be extended or extended upon request. The Ibiza loan is well designed to grow your own business quickly and efficiently. Since the loans have a very short term, there should always be a very detailed usage plan.
For example, companies use the Timawe loan to increase or increase their inventories. Even if the interest rate for this loan offer is significantly higher than that of a staff loan, the Timawe loan can pay off for the client, because it gives him the opportunity to help his company achieve faster business success and thereby also significantly increase returns.
The minimum loan amount of just $ 1,000 is a big advantage that will clearly speak in favor of the Timawe loan. This also provides opportunities for very small companies that most banks do not offer them. If you choose an Timawe loan with a monthly interest rate of 2%, you can choose between 1,000 to 50,000 USD.
Although self-employed people are often exempt from lending to many regular banks from the start, the company has focused on just that target group, closing a gap in the market. Private persons who are employed only as employees, get no loans from us. But many other institutes also offer much lower prices for this group of people.
On the other hand, Timawe loans offer a good opportunity to exploit and exploit your own market opportunities. The main plus here is the flexibility of the credit structure and the possibility of disbursement. Timawe’s website fits in perfectly with the company: the professional website is up-to-date and aimed above all at young entrepreneurs with the need for a rapid development of their company.
As with the Internet sites, unnecessary extras and special functions are largely dispensed with, so clarity could not be better. The detailed FAQ section clearly explains the conditions and of course there is also a Credit Calculator available. The number of individual rates is not displayed, so they have to be calculated by the user.
The professional design of the website makes it possible for you to present the installment loan for start-up entrepreneurs and the self-employed understandably and vividly and to inform the customers about all important information. The loan calculator will quickly show you the total cost of a loan, while the sum of the monthly installments must be calculated by the client.
The company itself is not a banking company, but a so-called fin-tech company. For this reason, it may not grant its own loans, as this is required by law in the Federal Republic for licensed credit institutions. Therefore, in order to be able to offer self-employed loans to our clients, we work closely with the company that ultimately approves and issues the loans.
It is supervised by the German Federal Financial Supervisory Authority and is also subject to the supervision of the Eurpean National Bank. Of course, the company attaches great importance to the protection of privacy. The customer data will never be passed on to third parties unauthorized and the use of personal information may be revoked by the client at any time.
Your data is kept top secret with us. As a partner institute of the Underict Bank, the financial supervision of the Federal Republic of Germany and the EB is subject. In our Timawe test, we also took a closer look at the services of financial service providers. In addition, interested people can obtain individual information from us.
Experience has shown that mail is processed quickly and satisfactorily so that we can speak of a good service here. Although we do not offer a 24-hour service, the hours of 9 to 19 o’clock on all working days are sufficient. The competent customer service of Timawe is there for you if you have any problems or problems.
Further useful information about the services of iswoca can be found in the customer-friendly FAQ section of the website. During our review, we also looked at reports from other trade media about Timawe’s products and found that the loan had already been reviewed and awarded several times. For example, the company has already received a prize for the best quality.
A high-caliber prize of the economy, in which a jury of industry and industry evaluates the applications received. The established business magazines have also extensively and well informed about the subject in recent times. In particular, the Bank’s investments amounting to several million USD caused a sensation in the financial sector.
In addition, the company receives a Customer Innovation Award from the Federal Institute for Service Quality and several other recognitions. Also this year the company is in the list of “Initiative Mittelstand” at the top. Not only our Timawe test report is impressive, but also many other renowned financial experts confirm the high qualification and the good future prospects of this company.
Even if the company’s interest rates on loans are very high, the lending offer of the start-up company was convincing, as it offers an opportunity, especially for smaller companies, that is denied them by other lenders. The offers are clearly structured and without superfluous surcharges. By default, the interest rate on an Timawe loan is 2% per quarter, regardless of the amount or duration of the loan.
The loan is already available from 1,000 USD and thus opens up even very small companies and self-employed, whose business is still in its infancy. Thanks to a sophisticated credit check procedure, the credit volume is approved in a few minutes and the payment itself is executed immediately.
Although customer care is only on working days, it is totally inadequate and of good quality. This makes the company one of the most attractive providers of self-employed and the high credit flexibility is quite evident. We give Timawes suggestion rating of 2.0. 1. Who can take out a loan with us?
The product range of the Fin-Tech operation is aimed primarily at small and independent companies. The small amount of at least USD 1,000 is also aimed at micro-enterprises, for whom the Timawe credit is a good way to expand the business and thus in the long term. The offers are not aimed at individuals in employment, but there are many opportunities for this group with other providers.
Freelancers, on the other hand, receive a flexible loan with the option of making a special payment. Two. Is Ibiza a database? No. Since in the Federal Republic only recognized credit institutes may grant loans, the enterprise co-operates very intensively with the company JDinloan AG, over which the loan is finally granted. o woca itself is only a mediator between the client and the company JDinloan and handles all formalities.
What is the duration of the Timawe loan? The maximum period for an Timawe loan is 6 months. This is very short, unlike loans from regular banks to private clients. The loan from Ibiza should help a small business to grow in no time. Therefore, the loans are granted only for a very limited time frame and the use of the money and the eradication should be planned exactly in advance.
If necessary, it is also possible to increase the lending volume or make special payments. Which loan amounts can be claimed from us? Already starting from 1.000 USDcredits are to be received by the company Timawe. It can be claimed up to 50,000 USD. The interest depends on the amount of the claim or the repayment term and there are no further charges.
So you as a customer can calculate the resulting fees very well.