The credit for the secondary trade comes from most banks from the house bank or direct bank. The income in the main job, that ensures the creditworthiness and the repayment ability of the loan amount. In the case of smaller sums, only the checking account is debited. It serves many small businesses as a salary account and business account at the same time. From a commercial point of view, this approach may be unwise. With regard to the simple accounting obligations of a sideline, it is almost always uncritical.
The business owner is taxed with all his income. A clean separation may make the breakdown easier, but it is not required by the tax office. For example, anyone who sells insurance as a sideline can simply prove the various payment sources using the billing documents. Nevertheless, it may be that a secondary business should be developed into the main income. In this case, intrasavings bank appears as a possible source of money for a loan for the secondary trade.
There is no direct support for secondary trades through intrasavings bank. If the clear objective for the trade is only a sideline, you cannot benefit from the cheap loans. The situation is different with the plan to grow the secondary business to main income in the medium term. Then intrasavings bank loans are very possible. The time frame within which the change from part-time to full-time work is to be carried out is clearly defined. This process must be completed within four years.
In view of the conditions of the loans, the possibilities to expand the business with them, these opportunities should not simply be missed. Depending on the program used, the loan can expand the secondary business considerably. With a loan amount of 100,000 USD – 80 percent assumption of credit risk by intrasavings bank, a lot can be achieved. Collateral is only necessary for the risk of 20 percent of the financing sum remaining with the commercial bank. Lending large amounts is much easier.
Business success is not equally given to every self-employed person. In the early days, financial setbacks always have to be put up with. Only with income from work, because sometimes loans can no longer be secured. The personal credit line has reached its limits. In order to get credit from the bank, which is no longer allowed to issue risk loans today, a surety would have to step in. Still, letting other people be held responsible is not for everyone. In such a situation, the loan for the secondary business of private investors can usually help.
No partner has to be admitted to the company for this financial injection. Via one of the three large platforms, contact with private investors is possible. They are more willing to invest in a business idea. It is primarily important to inspire private investors with the idea. The platforms offer the space for this. Your own business idea can be described in detail. If an investor likes the idea, he can make a loan offer . If sufficient bids have been submitted, a bank company will take care of the entire process. It collects the money from the investors and pays the loan for the secondary business.