Corona crisis – What help is there for the self-employed?

Osthessen (oz / rg) – The corona pandemic hits the self-employed and freelancers particularly hard. Many businesses are threatened in their existence. Some of them don’t have a lot of financial reserves. The federal government has launched an aid package, but that is not enough. Other ways have to be found to get out of the crisis.

What can the self-employed do to get out of financial difficulties?

Many self-employed are threatened in their existence due to the Corona crisis. These are restaurants, sole proprietorships, fitness centers and many other freelancers and the self-employed. The state has initiated aid, but it is not enough. There are, for example, one-off payments, an extended basic security or a loan for the self-employed. Anyone who is an entrepreneur, self-employed person or freelancer and has got into financial difficulties due to Corona can get a loan from KfW. These loans are 100 percent secured by a federal guarantee, which significantly increases the chance of a commitment. This loan is used to cover running costs and purchases. Borrowers have up to ten years to repay. No repayment is due for two years. In order to be accepted, certain requirements must be met.

Online banks

Online banks also award Loans to freelancers and self-employed. Cheap direct banks can be found on a loan comparison portal. Alternatively, a loan from private can also be considered. Smava and Auxmoney are finance portals on which private individuals offer loans. Self-employed and freelancers are welcome here, which is unfortunately not the case with normal credit institutions.


Another possibility is to use an intermediary. To do this, the prerequisites should first be studied carefully. It also makes sense to search for the term “bridging loan” when searching. There are alternatives to the banks there too. Bridging loans for the self-employed are intended to bridge financing bottlenecks. These loans are primarily used, for example, to pre-finance orders, pay wages and secure the procurement of goods. These loans are repaid after the job has been completed and paid for.

Change of business model

Some self-employed people are quite inventive when it comes to maintaining their livelihood. Those who have adjusted to the changed situation in good time can cushion the financial loss a little. Restaurant owners have gone into lockdown to offer their food and drinks for pickup. Less sales are better than no sales at all. Online trading now has a particular advantage. Many offer their goods on the Internet and thus reach a wide audience. With the change in the range, financial difficulties can also be cushioned, because many have included the sale of masks in their portfolio.


Financial setbacks can be met with the following means:

– By taking out a loan from KfW

– Credit from conventional banks

– Credit from private

– Change of business model or

– Applying for state aid.

It is important beforehand that a credit comparison is carried out in order to find the individual loan.

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