In these cases, the first port of call is usually a bank. Loan applications may have been rejected without justification or due to a poor credit rating for smaller cadets. A lot of people are borrowing. However, the credit bureau score does not rate you personally, but rather a group of borrowers to which you belong. Not only does this protect the bank, it can also give you clear information on how professional bank employees assess your financial position.
Loans without bank
Has your loan application been rejected several times by a bank? You want to take out a loan without a bank? As a rule, credit institutions have strict requirements that their clientele must comply with. These have to adapt to the guidelines of the bank and have little room for maneuver. But we have a flexible offer for all our guests: Simple: Our services are simple and effective!
Versatile Customers: Favorable Interest Rates: Our interest is cheaper than most banks! Your conditions: With us you can adjust the amount and duration of your loan according to your wishes. With us you can apply for loans of up to 250,000 francs and pay within 72 days! Our staff is expert and happy to advise you about your bank loan.
Then fill out our online form and you will receive a response within 24-48 hours.
Savings deposits or loans from financial institutions
Savings deposits or loans from financial institutions are still the most common way of responding to requests or responding to unforeseen financial events. However, lending from traditional lenders can be expensive, lengthy and complex. So, there are other ways to raise a loan? Can you get a loan without a bank?
What does the loan without bank? As a rule, loans are requested from a bank or other traditional financial institution. But for some years now, credit has taken hold more and more without a bank. Potential borrowers therefore ask private investors. There are various online platforms on which debtors and lenders can meet.
The loan, also called peer-to-peer loans, works from person to person, ie directly financed by private individuals. The reason for this is that wealthy private individuals prefer to invest in a specific project rather than in an abstract financial or banking business. Private investors aim for high-yield and at the same time socially acceptable real estate.
This also benefits the borrower. Even self-employed and freelancers can here attract a loan. In addition, conditions are often much better than traditional lenders. By lending money on an online platform, counters and employees are saved. Accordingly, investors themselves act as banks and determine who they underlay with a loan.
The online marketplace itself acts as an intermediary between the borrower and the investor. The savings are passed on to investors and borrowers. Borrowers receive cheap loans with a low interest rate and thus a lower monthly repayment rate. On the other hand, investors sometimes have return opportunities, which are larger depending on the risk situation than with conventional financing products. Here, too, borrowers and investors register and justify themselves through the PostIdent procedure.
This means that both parties have to prove their true identity in order to contact us. Investors and borrowers have to register on the website of the online portal. Borrowers must also undergo a credit assessment that includes the usual information about their creditworthiness. Even self-employed persons or freelancers generally have to prove their creditworthiness through their company valuation or the profit and loss account, the account statement and the proof of activity.
After successful registration and credit assessment, the borrowers can present their loan requirements in detail and make them available on the Internet portal. If a sufficient number of investors invest in the project, it is considered as financing and a corresponding loan is concluded. The loan is processed through a house bank and the desired amount of money is paid into the borrower’s account.
Through the commercial bank, the predefined monthly installments are passed on to investors. In the event of non-payment of tranches or death of a borrower, the receivables are transferred to a debt collection agency. What are the advantages and disadvantages of loan finance without a bank? In general, it is easier for borrowers – including the self-employed and freelancers – to raise credit through social loans.
It is also possible to get a loan if the credit is lower. The debtors are divided into different groups so that investors can assess their creditworthiness and potential profits. After which credit type can you be sorted? The decisive factor is that it is not the bank, but the private individual, which decides which project to invest in, so that not only bare facts such as income and costs, but also social aspects play a major role in the credit decision.
But even here there is no guarantee for the granting of a loan. If the creditworthiness is bad, no credit can be granted even on these platforms. In addition, it is not clear with every new project whether sufficient funds can be found for it. Peer-to-peer loans offer investors much higher return opportunities than other traditional investment strategies.
If the investment risk increases – for example, the borrower has a poorer creditworthiness – the return on investment also increases at the same time. The investor can also set his own risk and thus his own corporate strategy. In 2013, the online platform for the provision of personal loans was founded.
As soon as you have registered with us as a borrower, you declare your intention. You will then immediately get a credit decision. Again, as already mentioned, a credit check is required. Freelancers and the self-employed also have the opportunity here to underpin their credibility. Once all the formalities have been completed and checked, your project can be published on the Leica Geosystems website.
Your loan request will be displayed on the internet for 14 days. At any time in this area, you can understand how many investors have already co-financed your project. When fully funded, the loan agreement will be emailed to the borrower. This must then be printed and signed back to the company so that the amount of the desired loan can be transferred from the commercial bank to the borrower’s account.
An early repurchase of the loan amount is possible at any time.