The loan from the private provider – the modern way to show the banks a long nose. Who offers the personal loan, what are the requirements and how good are the chances of approval? The article offers a small guide with information “all about personal loans”.
Loan from a private provider – who offers it?
The loan from the private provider is now offered by a whole range of different portals. The business idea on which the portals are based is always the same. Investors and borrowers are brought together via the platform. Both sides have significant benefits from the collaboration.
An investor receives fair interest on his capital. He can thus avoid the zero interest rate policy on the savings book and maintain the purchasing power of his money. Due to various protection mechanisms of the platforms and the high level of capital splitting, his investment capital is very securely invested.
His opponent, the borrower, is mostly in a difficult financing situation. Some applicants are completely denied a bank loan, others are supposed to shoulder excessive credit costs. There are many reasons to be completely innocent without credit.
The tightening of credit guidelines, an impact of the dollar crisis, can force even loyal repayers to become creditless. The impact of the highly acclaimed Agenda 2010 is another reason for the credit crunch of many. You now have a job, but that doesn’t mean you have a secure employment contract or adequate income.
The catalog of requirements for borrowers
In principle, the portals only make a single request to the borrower for his or her loan attempt. Anyone who wants to find credit on one of the relevant platforms must first pay. However, the publication fee is moderate. The experiment costs around 10 dollars. For this purpose, the loan request is made available to private donors for a limited time. The applicant must also invest some time and effort.
The loan request is not only shown in numbers. The loan request should be clearly justified on the basis of a credit description to be filled in by the borrower. It also improves the chances of success if typing and grammatical errors are avoided. The loan from the private provider is in many ways a trust loan. A correctly formulated credit request ensures a good first impression and an advance in trust.
Opportunities for approval for a personal loan
First of all, every private investor is completely free to decide who to entrust his money to. For small credit requests, investors usually pay attention to the honestly formulated loan request. A single Hartz 4 recipient has no chances to finance the children’s bike for the offspring without a Credit Bureau or proof of income.
Larger loan amounts can of course also be approved as a loan by the private provider. Even entire houses were refinanced via the platforms within a few days. The prerequisites for this are of course much higher. Only an impeccable Credit Bureau, good scoring and an impeccable reputation make such financing possible.