It is not always easy for traders to get a loan. But especially when it comes to a loan for traders, it is often about existence and jobs. Special loans for traders are tailored to special needs. Unfortunately, not all credit providers also offer loans for traders, but it is worth comparing, because it is not always advisable for traders to rely on their own bank if they need a loan for their company.
Loans for short-term bridging
In most cases, due to the fact that traders have to make advance payments, there are financial bottlenecks that should be bridged by a loan for traders. The average loan term in Germany is around 90 days, because this is often the time it takes to process larger orders until the customer pays. It is precisely these short-term loans that are in demand, and yet it is also the case here that the credit providers check exactly what the order situation is and what the future forecast is for your company. If you need a short-term loan to bridge the gap, you should compare exactly which provider offers the best conditions.
Medium-term to long-term loans for traders
It is more difficult to obtain a medium-term or long-term loan for traders. Here credit providers check even more closely. If you need a medium-term or even long-term loan because you have to make investments, it is important to have all the documents at hand that will make it easier for the bank to make a decision. Often, it is not only the current situation that is decisive, but mostly banks check the sales of the past few months and, in the case of long loan terms, even the sales of the past business years. In addition, it is always crucial how the order situation of your company is likely to develop. There are very fair offers for a loan for traders. Often, this is based on earmarked loans with very attractive interest rates.