Private loan without Bank: advantages and disadvantages
Who needs a personal loan, which is not necessarily dependent on a bank, but can also rely on a loan from private without Bank. (Not to be confused with a classic loan without Bank.
The benefits of loans that come from individuals who are often referred to as investors, are obvious: with them much more flexible repayment modalities can be agreed and also the interest rate model can be arranged individually , For example, repayment installments can be handled much more flexibly than with a bank loan, depending on the borrower’s payment options.
For example, if the borrower needs the money to set up a business that needs to start, then the rates may be lower and later rise steadily. This is especially useful for startups who have little money right at the beginning and in many cases have no chance of getting credit at banks. Here is more important information about home loan for business.
A home loan without Bank can help if the house bank refuses
A private loan without Bank is generally a good way for all self-employed to get capital. After all, self-employed people are finding it increasingly difficult to obtain a loan without collateral. A private loan without Bank can always be considered as a solution, if the house bank refuses, because the Bank score is too high. In consultation with the private lender, the Bank information can be left out completely in such a loan form. Thus, the Bank score does not decide whether the loan is granted and there is no new entry in the business directory after the grant. A private loan without Bank can be used very well in addition to commercial financing, as a loan for a property, as a car loan, or for a rescheduling. You can find important tips on personal loans here.
Make a credit comparison
Of course, private lenders also want to earn something by lending money, and must consider that repayments can sometimes be down. Therefore one can say that basically there is no credit without interest. In many cases, interest rates are slightly higher than for banks to hedge against default. However, so that borrowers do not have to spend too much money repaying a private loan without Bank, a credit comparison is always recommended. Such a comparison can be used, for example, free, unbureaucratic and non-binding in the portal of Small Lending.