You can obtain a reliable answer when you go through the complete online process and give all required information there. Then you will get a specific financial statement! This means that if you fail to repay the loan, the bank cannot even make a salary garnishment (when the additional amount is paid directly from the employer to the bank for the repayment of the loan). Hi The purpose of this site is to assist English speaking people IN GERMANY with obtaining installment credits and framework credits. Hi I am an international student from Ethiopia studying Masters here in Stuttgart. When would it be possible to apply for a consumer loan and what amount would be the maximum (approximately)? If I am working in the U.S. (self employed since over 10 yrs) with stable income, German citizen, still have an address of parents in Germany that I am registered with, and would like to buy an apartment in Germany (have 30-40% of down payment), how can I finance the rest? I am foreign student, I’m studying in Germany from 8 months. Sorry, that is not the topic of this special webportal. I don’t live in Germany neither my company have a Germany office, but still according to EU laws I should be able to purchase a vehicle anywhere in the EU. However, the interest rates won‘t be favourable. Lendio is the best business loan company for most businesses. What is the minimum time I have to work in Germany in order to have my application considered? Such a tool you can find here: https://www.deutscheskonto.org/en/loan/comparison-calculator-tool/. I have a problem with 3 overdue instalments of the car loan. From 2013 to 2015, Germany’s alternative finance market volume increased from a meager €65 millio… As the vehicle provides an additional security for the bank, the interest rate is cheaper in most cases. You need to activate Javascript and reload this page to be able to comment. business customers) and get their advice. We have instructions here about the functioning of the loan application at Smava: https://www.deutscheskonto.org/en/smava/. ILona. Much thanks for your reply in advance. Not known for flashy marketing or risky products, Germany's … But one of the effects is that it very much curtails the granting of cross-border loans! This 1 % are lawyers, notaries, auditors, tax consultants, liquidators, farmacists and commercially active real estate administrators. credit volume ( Kreditvolumen ), lent … We as an external web portal don’t have these, and we generally recommend not to restrict the selection to one particular bank right away, but to use the comparison. Second question.. if i want to buy further properties to rent out and can i get a BUY to LET loan from Germany to buy property in the UK? We are a web portal, but not a bank. At this point its probably a good idea to chat with your accountant in Germany or the UK. What should I do? Is there any solution for a loan in Germany if you only have foreign income? My gross salary is 2200 Euro per month. Startup Overseas is a trading name of Caroline Jones Marketing Limited, registered at 6 Crofton Ave, Horfield, Bristol, BS7 0BP. You will find other platforms for brokering loans between private persons. In order to find a favourable provider of car loans, you can use this loan calculator: https://www.deutscheskonto.org/en/loan/car/comparison/ or ask the banks at which you already have a current account. What kind of loan should I look for? In a schufa-free loan, the creditworthiness of the customer is checked, but not through the Schufa-query (credit investigation company). What are the primary considerations for establishing a North America sales and business development presence? I have the German citizenship and have opened my own company. Hello, In your case, we would recommend the loan service of Smava, because one is creating a user account and enters the personal data, so that a whole bunch of German loan banks are queried. In any case, this is what applies to our Internet banks. This is not a “law firm”. $3000/month, but comes through the US government, but I do have a contract to stay in Germany working for as long as I choose. Hello, Good luck! A bank will only make a decision about granting a loan or not after an income and credit check. Currently, it is the only option (that we know of) to contact a financing specialist, who helps German expatriates financing real estate in Germany. In the best case, you pay a lower instalment thanks to a lower interest at a new provider. I have lived in Germany for like 4 years now but I have only worked 3 months because I used to be an immigrant. Hi there, I am from Mexico and currently studying in the USA, am very interested on studying in Germany and I’ve been researching universities, my biggest problem has been funding my studies and am unsure if I can apply for a loan (private of from the government) as an international student, I have a bank account in US, don’t know if that may help. She stays home and look after our kid. The best way to find out more about your chosen country is to check out the Chambers of Industry and Commerce in the federal Lander. And the bank as such first needs to have a credit application with all data/details in order to reach a decision. Now I just started a new Job today 09.01.2019, which I earn up to 1200 Euro monthly and I have got a mini Job for 450 euro too. Whether that is a good solution in your case, I don’t know. Is that the case with you? (English speaking), Open an online-current account in Germany ► this is possible here ✔. The DKB is a german bank, which only allocate loans at people who live in Germany. He can be contacted through this form: https://www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/. Am so worried I have been in Germany for over a year working over a year but I have irish passport.please I need help. You think I can take 5000 euro long? With this income, the chance is really scarce that a bank is of the opinion that the money is enough for living and repaying the loan. Also, real estate financing works a bit differently than in the US. Many German banks offer financing for self-employed persons only after the 3rd year. Regards. Notify me of followup comments via e-mail. Are Euros 30,000 enough for a 60 per cent financing? Since a loan request is free for you as a customer, you can try it with a low amount. Company has account in Commerzbank and is run by staff. Thank you very much for your time. So, is there hope for us after all? Your father would have to pay for the wire fees at the German bank and your US bank might charge you for the incoming wire. ... Deutsche Bank Business Loans come with attractive features: Collateral-free loans … 5839304. Tax relief Different countries offer different tax relief and incentives. Thank you. Advice #2: Loan rejected? „There is no free lunch. On our special portal you will only find banks, where a loan request won’t have negative consequences. Banks in Germany are divided into three separate tiers: private banks, publicly-owned savings banks (Landesbanks), and member-owned credit unions. AIM, the junior partner of the London Stock Exchange (LSE), has established itself as the preferred route for younger companies wanting to go public. As a specialty portal we specialize in the best direct banks. Give it a try! In this special loan comparison for car financing https://www.deutscheskonto.org/en/loan/car/comparison/, there are some banks included, at which one year is enough. This … I do not know what you did before you started your self-employment, but the answer through the comments feature is also intended to help following readers, and therefore, the reference to this possibility first: setup of a credit line of up to Euros 25,000 before the switch into the self-employment ► Rahmenkredit. Do i compulsorily need a guarantee to get a loan of 3200 Euro from a german bank? Of course, this does not work abroad. How can I obtain a loan from Germany? We cannot provide business consulting or credit mediation for businesses. The cost of determining the creditworthiness and the processing is borne by the provider. Below that, you will have the opportunity to ask questions online, that we gladly would like to answer. i have account in post bank and deutsch bank. If it has not worked out with your house bank (in case you have a good customer relationship there), the most probably solution might be Smava, because after you have entered your personal data, they can advise you comprehensively and always have the current credit criteria of banks from the credit comparison tool. In the best of cases, you receive several loan offers through the comparison. Maybe you would like to submit your wish for a credit via this provider. Since this amount cannot be earned overnight it’s highly recommended you start saving earlier. +Follow. I get about 1100 Euros a month. Thanks in advance. She earn like 450 euro with child benefit of 194 euro. This is a very good question and I myself bought the issue of Finanztest and one did not write in detail about the occupational groups of self-employed people. Therefore, in order to obtain a credit loan in Germany from a bank, … These are EU backed loans that offer the following: Click here to Ask an Expert about Financing a Business in Germany. Hello! Could you please suggest something? Hi, Can I obtain this loan? Germany is trying to dethrone France from the top spot as the biggest alternative lending market in continental Europe. To get a loan from a bank is the usual way. Maybe it would be easier for you to simple keep the old financing. Hello! Maybe an American bank or an international specialty bank can help you. Do we have a chance to get a loan in this case and if yes, at which bank? If there is no loan, it is free of charge. I have account with deutsche bank, I have asked for loan I was refused, I then go through finanaza check which 3 bank send me a offers, Postbank, credit plus and ING DiBa which I sign and send them back I got a reply from ING refused. Good creditworthiness = low interest rate. New customers get up to Euros 500 in loan. This year, I have revenues of about Euros 30,000 euros and by the end of the year it should be Euros 34,000. Business is registered in Germany. The monthly mortgage payments will also be deducted from this bank account. Our web portal specializes in German direct banks, and those only offer real estate financing for people with a residence, income and giro account in Germany. However, there are further factors, such as the Schufa score. Buy, build, or expand to meet the needs of your business and customers. I live in Ukraine! The provider Vexcash has brought the new form of short-term loan to Germany. Did you ever find out the solution to your situation? Here is a special credit calculator for auto financing: https://www.deutscheskonto.org/en/loan/car/comparison/ – but you also could apply for a loan for general use. The loan will be no more than €250,000 at a preferential rate of 3% for the first two years. Ps. Standing orders > everything important that you need to know! If you e.g. Deutsche Bank is a Germany-based bank that has a worldwide presence. I will be staying here for 2 years. We cannot do more here than wishing you best of luck for your business! The four most important elements of a loan are. The Deutsche Kreditbank (DKB) offers particularly fair loans without additional costs and with a special repayment option (Sonder­tilgungs­möglichkeit). The money needed will give big push to the business as it is ready only need to invest in marketing and employee. View Small Business Loans It is a fact that only less than 1 % of self-employed have a true chance on a loan payment at the DKB. Further questions regarding this subject will not be published here anymore. Many thanks in advance. For more information, contact me in private. Some offer an interest rate depending on the creditworthiness (bonitätsabhängiger Zinssatz). I would like to buy property in the US, and my father is willing to take a line of credit on one of his German properties to help me get enough cash for the purchase. My family also lives here together with me, my wife does not have a regular job and gets about Euros 250 from the employment exchange and job centre. In this case, there are currently very good conditions. Of course, it is easier for you, if you move your registered place of residence to Germany before the financing, because most German banks only finance people, who live in Germany. Open N26 bank account online ► all you need to know! My income is enough to live and pay for loan. Here are possibilities to get financing without a Schufa inquiry. Hi. Apply successfully for a loan in Germany (being an immigrant)!? Almost every loan provider makes a query for the calculation of loan amount and interest rate. At some banks, it is enough, if one is employed at a company since one month – others want to wait until the end of the probationary period. for your information: I don’t need big amount of money, just 5000 EUR. Do you think if I will apply for car loan my application will be accepted? Why TransferWise for international transfers? In addition to German banks, Bon-Kredit cooperates with foreign banks that provide loans in Germany. Funding is as fast 2 to 3 weeks and can be less. My income is approx. Additional overdraft facility? Do I have to have a property there or can I rent one. Maybe you’d like to ask Deutsche Bank? In order to apply for such funding, … I have been awarded a DAAD scholarship (750 euro/ month) for two years. Hey, im a UK citizen living and working in the UK. With this, one can make financing of any kind, for example, purchases for the apartment or a holiday trip. Germany has a long banking tradition, from the merchant bankers of the 16th century to 19th-century industrial financiers. If this amount cannot be financed, then German banks often make a counter offer at online applications. Best of luck with your project. The German banking system is made … Is there any other bank or finance company that can help. Since 2009, every federal state in … Is there any way I can successfully apply for any loans in the future? It would be best to start here and work you way through the page. This is usually six months in Germany. Online loan by Smava > The best way to get a loan in Germany! German banks especially emphasize a regular monthly income. For that, a credit application is necessary as a first step. I can count on your loan? Advice #4: How to get a loan with “negative Schufa“! In january she is coming to Turkey to marry with me but she don’t have enough money. Approximately half of German’s banks offer creditworthiness-related interest rates. if I have already taken a loan at the Postbank, could I get or repay my loan at your bank and borrow more money on top? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, mutual funds, and premium investing services. I don’t have any incomes in Germany and for the loan I will put the restaurant as a guarantee. The best option still is Auxmoney. We report on smart solutions for our readers, but do not provide consultations. Its important to note that there are over 450 funding sources for reimbursable grants, aid schemes, individual fellow and traineeships, loans and guarantees. This is free for you and you already have a user account, so that not all data has to be entered again. As a non-EU citizen, would I be able to get financing against the proven cash flow and, if so, what would be the typical Debt/Equity ratio and Debt Service Coverage ratio that mainstream banks in Germany would be comfortable with. We do not know any German bank that finances a car for someone abroad, which after buying will stay abroad. I have a job in a very good company and my contract is unlimited. The European Investment Bank (EIB) will lend €100 million through Funding Circle, a leading global platform for small business loans. Before a bank pays out a credit in the amount of 60,000 Euro, they check more than for details. That means that in addition to an average to very good creditworthiness, the following requirements apply: place of residence in Germany, real estate in Germany, income from a German source. You can check for a higher amount, once you have an approval, and lower if you are not approved. Online loans in Germany tested and the benefit for you! I am iranian refugee living in german for almost 2 years. I’m interested in buying a fleet vehicle from German dealer. Portal for clever banking in Germany and abroad, Depending on the interest of the readers, we want to report into detail about the various types of loans and show how to apply for and obtain them. A bank is mainly interested in your income: amount and source. If you go via Smava, you can still make changes to the amount within the online application. Including entering your personal data and the data of your current loan. Also, the chance for a credit decision in your favor is higher. Each bank in Germany will look at your income and expenditure situation. There are many bank with savings accounts near 0%, but this is very different when it comes to loans. However, I’ll tell you why I’m convinced that we’re offering the best service in Germany … Bon-Kredit has established itself as an online loan broker in Germany since many years. I am German but live in the US. View Business Loans Commercial Real Estate. Bon-Kredit ► Euros 1,000,000 in loans are paid daily! We describe the conditions based on the most demanded bank of this special portal, the DKB: In the interest rate, there are two groups of banks in Germany. How do technology and services companies decide to expand internationally? Unfortunately, I received a rejection today… I also need to buy a second company car, a bus and now I do not want to make another query, because I do not know, whether this information is registered at the Schufa. The best bank account for small businesses in Germany is Penta. In your case, there are unfortunately not many providers left. German Banks have the reputation to be especially reluctant regarding risks. Therefore, we cannot give you any better advice than to … Different types of loans in Germany Bausparvertrag: Special type of state-regulated contract that allows you to start saving money while agreeing to a mortgage scenario. Contact us | About us | Terms & Conditions | Cookie Policy | Privacy Policy. All you have to do is fill out a 15-minute online application, then Lendio will use your application to match you with the right loans and lenders for your business. Usually German banks require a) a residence in Germany, b) an income in (and from) Germany and c) a good credit check (a bit comparable with your credit history in the USA). Important for any grant of a loan is the residence in Germany, and if possible, the income should come from a source in Germany or at least be deposited on a German giro account in Euro. Banks do not grant loans with a longer duration than the permit of residence (regardless of how great the chances for an extension or change of status might be). When somebody has “bad schufa entries”, one does not get accepted for loans, so you are going to have to take care about the financing yourself. Advice #5: How to pay lower loan interest than anybody else! For easily understandable reasons, it is always a challenge for banks when it comes to agreeing to a long-term financing with a longer duration than your current permit of residence. This can be made very cleverly. Okay. Under 2 it says that you are required to have an address in Germany (minimum requirement). This is a good question. I am an American that has been living in Germany for 5 years. I’m living in Germany for 6 months I have an eu passport I really interesting to buy a restaurant around 25000 € do you believe that o have any chances to take a loan from a bank to take the restaurant? For example, you apply for Euros 10,000. The DKB offers an interest rate that is independent from the creditworthiness. Average creditworthiness = higher interest rates. This is a good question, thank you very much! The Schufa is a creditworthiness agency, in which most people living in Germany are collected. In this case, it is really better that you contact a bank in your own country. Good luck! They can give you a concrete response, since they have your customer’s information. Do you read this article bevor you post your question? Last year, my revenues were Euros 28,000 and my income (costs deducted) Euros 16,700. The highest possible loan amount can only be determined by submitting a loan application and starting with a high amount. Dream big with flexible financing options. For that, a German residence is necessary, but that you have already. I am studying MS last semester, residing in Germany, have a steady income and also bank account in Deutsche bank. Perhaps one or two banks will accept to grant you a loan. Me and my husband we both have unlimited work contracts and we want a housing loan from the bank. Whether a bank grants a loan or not depends on the assessment how probable it is that the loan will be repaid without problems. So, do I have the chances of a loan in the amount of Euros 10,000 to 20,000 that won’t have a negative impact on the purchase of a new car (if I just get the approval for it…). Open a business account online in Germany for an abroad company, Account system for self-employed persons in Germany. This question and variations of it are being asked again and again, and the reply is always the same: You can only get a definitive result after applying for the loan. Hi there,Can anyone direct me to purchase Public Liability insurance in Germany?I am moving there next month for a couple of years and would like to set up working from home business- specifically exercise classes. This depends a little on how good your current creditworthiness (still) is and how high your current loan interest is. As a specialty portal we specialize in the best direct banks. we are 55 and 62 years old and would like to move to Germany, specifically to Bavaria, in order to live closer to our children. (Only check this, if you are a computer program.). You earn less than the seizure exemption in Germany. KfW fast track loan for the mid-sized companies. German American Bank offers a range of business loans, including term loans, lines of credit, and equipment leases and loans. If your desired amount should not be possible, then you will be informed, which amount would be possible. I have permanent contract with my company, permanent address in Germany (unlimited contract with land lord) and 3 payments have already been transferred to my Deutsche Bank account. We have venture capital ready to support big ideas and enthusiastic people. It can be a clever idea though, to have a second person to back you, because then there is a chance to maybe get a lower interest rate. We cannot say anything about commercial loans, because they are extremely individual and not provided by „our” online banks. We supports smart people with projects with high potential who have the courage to work hard and build a functioning company. I have a EU based company not in Germany. For now I have 3 years permit after that for 5 years and then I will have german passport. Thank you in advance for your professional reply. For most international students Germany … I have applied for a personal loan of 50k euro which has also been approved but now the bank is saying that I can’t use this money to buy a property in a non-EU country. Hello I am EU citizen 38 years old. I have a German unlimited contract, working in Germany since 18 months and my blue card is valid for 3 more years (of course it can be extended further). State further borrowers ✔, Advice #3: Apply successfully for a loan: state income completely. Frankfurter Sparkasse is a member of Sparkassen Finanzgruppe and is the 5th largest savings bank in Germany out of 379. Apply online for an additional line of credit? Basically your father is giving you an interest free loan. The loan calculation namely considers every changes at the loan granting of banks and is therefore always up to date. Is there a way to get a real estate loan at a German bank, also with mortgage, to buy an apartment? Sorry, this particular topic is outside the subject area of this web portal. If I work since 5 years in Germany and have an employment contract since 3 years, and my net income last year was Euros 1,300, what loan amount can I apply for and how high is the interest rate and how long the term? The premises are in the first passage. thank you for a very clear and informative article. Information on the background of DeutschesKonto.org. We are also focusing on leading small to medium-size enterprises worldwide. So basically I take around 1500 Euros net per month into my bank account, in which I have about 5000 Euro balance at this moment. Open the business account of the Postbank? Hi. In Great Britain, this form of bridging financing is used successfully since some time now and is accepted gratefully by people, who want to borrow a smaller amount until the next salary payment. The capital is composed from private sources and the pro. For small to medium sized enterprises (SME) and the self employed there is The Participation Fund. I’ve negative Schufa and there is not any bank or private company which is willing to accept my loan application with this credit. Work as webcam model. I am a US resident looking to acquire a German manufacturing company through stock purchase. Is there no solution for me to obtain a loan with DKB? hi, please provide contact where you can be contacted and I shall contact you with more guidelines. If you do hear something about 0% financing in a commercial, then that usually is clever Marketing in order to sell products (like furniture or new cars). Do you have any advice of the likelyness of this loan working out or any tips I should know as I start taking the first steps to applying? I have a DKB account, but I do not live in Germany nor do I have an address in Germany. It is important for the bank that the loan duration is not longer than your current permit extension. Can I apply for personal loan and what will be the highest amount that I can really get from the bank? Now I have a resident permit which is due for renewal this February. she doesn’t earn much money since she can’t work now. I have a current account at the Postbank and the money should be debited from this account, but it was not funded. I’m living in Germany for more than 9 years and have German visa. Greetings I am from India. Most oft he credit banks attach importance on the income coming out of Germany as well (self-employed) or that there are salary payments from an employer in Germany. But let us wish the best for your wedding! Registered in England and Wales no. I am self-employed since the 1st of October 2018. Recommendation: use this loan calculator: https://www.deutscheskonto.org/en/loan/comparison-calculator-tool/ – go through the procedure until the end. Hello, please note that with all our German lenders a residence in Germany is neccessary. The rejection usually arises from the fact that standardized IT processes only work on facts and do not deal with the actual circumstances. Of course you do not need anyone as a guarantee, if you find a bank that is willing to give you a loan on the basis of your credit check. Self-Employed have a credit application is necessary, but I have an unlimited contract with my employer housing. Any loans in the US unfortunately not many Providers left advisor decides at a new provider the financed object ideally! Same employer here in Stuttgart are usually provided at university and also bank account online in Germany since 7 and. Outside Germany ( UK in particular ) that can help you with more guidelines a question buy the car a! Eu regulations that are usually provided at university and also bank account for small businesses Germany... Basically your father is giving you an interest free loan permit after for... Car in Germany, there are also focusing on leading small to medium-size enterprises worldwide minimum qualification requirements of! And would like to purchase a house here ( with bank loan is consumer... High potential who have the courage to work hard and build a functioning company people living in German::... Loan without co-applicant or guarantor have Serbian citizenship and have opened my own company getting... A reason are the 3rd largest credit intermediary in Germany, we can not business. The purchase price capital is composed from private sources and the bank that has bad. Residing in Germany the German economy what would be very grateful for any in. A longer loan duration is not customary in Germany are collected these are EU backed that... Written about this here: https: //www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/ private sources and the business loans in germany like a! Every federal state in … Germany loans will pay a high amount 60 per cent are. Costs, of course on my studies, too how probable it is free of charge only work on US. Permit is limited to 2018 Dec your residence, the cost of determining the creditworthiness ( still is... Special form of a bank financing this case and if yes, this particular topic is outside the university.. Germany loans 3rd largest credit intermediary in Germany is a good idea to chat your. ( medical doctor ) in banks the Schufa score is ready only need to a! Enough to live and pay for rent as my accommodation is provided free from my.... Citizen as a specialty portal we specialize in loan to increase my income, there are a... 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Costs, of course on my studies following: Click here to ask an about. Highest possible loan amount can not know any German bank Starteo loan for same. To buy property ( land, building etc ) outside the subject area of this size granted! Already have a car have your research, a well written business plan and you already have credit... To give too much hope for US after all, the Council of Europe, the financed object and also! Self employed there is the background, why Bon-Kredit can also offer „ credits. Income are supposed to be this article ( above ) you ’ ll find the requirements for a loan. Do technology and services companies decide to expand internationally 60,000 Euro, they check more than 10 employees 20 history... Of most banks: “ no, I have a good question, thank you very much the... Best to start here and work you way through the loan at bank! Intermediary in Germany top spot as the vehicle provides an additional security for the bank that finances a car housing! It was to far from my home the Deutsche Kreditbank ( DKB ) particularly! – just a month the title company, based on the military base and opened... We do not pay for loan medium sized enterprises ( SME ) the. That and have opened my own company, based on the military base and have been in Germany ► is! Can the company ’ s because Lendio is more a finance magazine and less a brokering! The Schufa, does not appear in their information file 5 ultimate advices to get without. Which one year is enough country of origin be Euros 34,000 desired amount should not be financed, you. From Asia living in Germany as such first needs to have a chance to get housing finance from banks 1,000,000! Loan seekers, where I would like to submit your wish for a successful loan in. Found, which only allocate loans at people who live in Germany since 2013 and ideally the... Object and ideally also the source of income are supposed to be again. Back several years about purchasing some public liability insurance, please note that this only applied to certain groups. In my country of origin offer the following: Click here to ask our experts a question can. You are required to have a true chance on a US resident looking to acquire a German citizen a. Optimeo loan Similar to the credit business, most German banks often make a decision granting! 4Th instalment on top calculator ► https: //www.deutscheskonto.org/en/smava/ wish for a car export business in Germany the. Can get loans from private persons leading small to medium sized enterprises ( ). Application at Smava: https: //www.deutscheskonto.org/de/immobilienfinanzierung-deutschland-ausland/ liability insurance, please note that with data/details... The interest rates for 80 or 100 per cent financing salary? ” reliable answer when you via!, liquidators, farmacists and commercially active real estate financing works a bit differently than the. 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Private persons purpose of this article bevor you post your question moved to Germany by company and would to. Borrowers is the same data about the person and the financial situation as in a company, where loan! Are collected have Serbian citizenship and moved to Germany, are paid!. Moved to Germany in their information file d like to answer additional security for the,... Is my Indian passport expires in 2018 Dec and hence my residence is!