The self-employed and founders often have problems getting loans from banks. Banks assume a higher credit default risk if they are self-employed. Loan applications from start-ups and start-ups have virtually no chance of being approved by the financial institutions. Unless there is sufficient equity or a solvent guarantor.
Get bills financed with Astro Finance
Small and medium-sized enterprises (SMEs) and above all start-ups need sufficient liquidity to start a successful business. Fast credit solutions are required to overcome financing gaps and planning security. Especially in B2B transactions, where payment terms of 60, 90 or more days are the rule, it can even threaten the existence of the entrepren$.
Companies make advance payments for many orders. However, goods, services and staff (wages) still have to be paid. So that there are no liquidity bottlenecks, alternative financing solutions are required. Factoring is one of the most straightforward corporate financing in Germany. There is no longer a long wait for customer bills to be paid.
Open receivables can be pre-financed by certain financial service providers (factoring). Bank-independent financing models such as factoring or crowd investing have become popular forms of financing. The most suitable financing for you depends on your situation and your capital requirements.
Immediate liquidity through factoring with Astro Finance
An alternative to traditional credit is invoice financing through Astro Finance .
As an entrepren$, you submit the open invoice to this service and the “invoice amount” is paid out immediately (within 24 hours).
The highlight is that there are no minimum requirements . There is no waiting until the billing agent has cleared the outstanding amount. Registration is free and there are no fees, no hidden costs. You only pay back the invoice amount and the agreed interest rate, similar to an installment loan.
The factoring company pays the money to the biller for a fee. With invoice financing, customers receive a payment to their business account within 24 hours. This means that financial bottlenecks can be overcome quickly, as an entrepren$ you are safe from payment defaults or can make investments.
The customer does not find out that you have assigned the claim. The invoice amount can be transferred to your own account or the account of the factor. All you need to do is enter the corresponding account details on the invoice. This variant is known as silent factoring. The default risk for a claim is not borne by Astro Finance. The risk lies with the biller.
Invoice financing process by Astro Finance
First, register free of charge with the factoring company and create a customer account.
Then send the invoice to be financed and the associated order confirmation by uploading it to the platform. For new customers, verification follows via the video identification process.
After the application has been checked, you will receive an offer from the factoring company. The agreed amount will then be transferred to your account. Invoices are 100% pre-financed. The customer pays the bill sometime after days or weeks. You pay the pre-financed amount back to the factoring company when your customer has paid the invoice.
The loan term can be freely selected up to a maximum of 90 days. If Astro Finance does not accept the invoice, the customer will not incur any costs.
Fees only arise if the biller uses the service provider’s pre-financing offer. Astro Finance does not grant a loan itself, the company is only an intermediary.
The lending is done by a partner bank. No contact is made with Astro Finance to the customer (invoice recipient). The accountant receives no information from Astro Finance about the conclusion of the factoring contract. If the claims are not settled, Astro Finance does not take over the dunning process or the collection procedure. If necessary, you will have to repay the loan to Astro Finance from your own funds.
Alternative to Astro Finance invoice credit
Anyone looking for a corporate loan can take a closer look at financing offers from iwoca and Postbank.
Postbank Business Kredit ( WERBUNG ) offers entrepren$s, the self-employed and freelancers low interest rates and loan amounts between 10,000 and 100,000 USD with flexible terms between 12 and 84 months.
This company offers cheap loans for traders, self-employed and small businesses. With this provider, loans between 1,000 and 100,000 USD are possible without processing or payment fees. The money can be with you within 24 hours, no collateral is required.
To solve unforeseen financial bottlenecks, traders, self-employed and small businesses, this offer often as a bridging loan. Even if you repay the borrowed money early, there is no prepayment penalty.
Borrow money without bank and upfront costs from private investors
Another alternative is also suitable to increase your own financial liquidity. Borrow the money from private investors. The private loan for the self-employed can be used as interim order financing or working capital loan.
Even if you have been rejected by banks on the subject of credit inquiries, the self-employed and start-ups in particular have a chance of financing without a bank . Portals like auxmoney are suitable for this. You can take out a working capital loan as a self-employed or start-up entrepren$ via an online credit marketplace.
The working capital loan can be financed quickly and cheaply by private donors up to $ 50,000. Since it is not only the Credit bureau score that is decisive for borrowing from the platform, companies or people with low Credit bureau score values often also receive a private loan.
A loan despite Credit bureau is also feasible. A credit WITHOUT Credit bureau is only possible with foreign credit providers or special credit intermediaries such as Credimaxx. After conclusion of the loan agreement, agency and service fees are incurred.
The personal loan is a loan with no upfront costs. Lengthy discussions with a bank advisor at the house bank are simply a thing of the past with a private loan. If a good credit rating is available, an instant loan is also approved. You don’t have to convince anyone with P2P credit marketplaces with business plans.
Private moneylenders are often self-employed or founders and know the problems of other entrepren$s. With the loan for the self-employed, you only need to publish a more detailed description in a loan project and provide some information to assess the creditworthiness.
When borrowing money privately, small amounts of money are easily collected by many people via the online platform to finance the project. For short-term money requirements, crowdlending is a good alternative for borrowers with poor creditworthiness because of the simple processing.
Astro Finance experiences reviews and test
Invoices from 1,000 USD that you as an entrepren$ give to customers, but which are only due after weeks, are therefore paid immediately by Astro Finance. By pre-financing bills, the company can help you get liquidity faster. No special requirements have to be met to use invoice financing.
The money is available to freelancers, small and medium-sized companies within a short time. You can find a lot of positive reviews about Astro Finance on the Internet. Customers are particularly pleased that payments are received in the account after a few hours or that the processing is quick and uncomplicated.
People are also very satisfied with the service or customer service, the consultants are very friendly and professionally competent. Liquidity can be increased quickly and unbureaucratically using invoice credits. However, if you are looking for start-up financing as a short-term loan solution, you are better advised with a start-up loan from a private money lender or credit broker.
Invoice pre-financing without waiting – pre-financing of open invoices
In order to be able to pre-finance invoices online, you only need to submit open invoices to Astro Finance, there is a flexible financing framework of 2,000 to 200,000 USD and NO minimum requirements. Payment can be made within one day.
The account and credit line are free. Minimum amount on the invoice is $ 100, the highest individual payment is $ 50,000 and the maximum credit limit is $ 200,000. Fees only arise if invoices have been pre-financed and the sum has been paid by Astro Finance.