No guarantee for a loan
Without a secure employment relationship, applying for a loan from one of the larger credit institutions is almost hopeless for the loan seeker.
Even special providers, who in the past have often lent to the unemployed, do not grant the loans on a flat-rate basis and under guarantee. Each individual case is meticulously checked before a loan agreement is concluded. Thus, in the case of the following credit intermediation platforms or credit intermediaries, the unemployed have no guarantee that they will be provided with a loan, but only the real chances of obtaining a loan are considered to be comparatively higher.
Thus, in the case of the following credit intermediation platforms or credit intermediaries, the unemployed have no guarantee that they will be provided with a loan, but only the real chances of obtaining a loan are considered to be comparatively higher
Anyone who is unemployed and has ever been in financial distress knows how difficult it is to get a loan in this case. It is necessary to find a bank or a lender who, despite the absence of a regulated income relationship, wishes to grant a loan of the required amount. While traditional banks usually do not provide credit without a guarantor or certain collateral, it is much easier for new emerging lending platforms to get their own preferred loan quickly and cheaply. But some credit intermediaries also have a higher than average placement rate.
Recommended credit intermediaries for the unemployed in the short presentation
The mark of a reputable credit broker is that usually no costs and fees are incurred when examining an application.
It is also not recommended to link the loan agreement to other second-party contracts, such as home loan savings contracts or other collateral-securing insurance. Only the dubious brokers earn the commissions paid out.
The situation for the borrower, on the other hand, does not improve – on the contrary, more and more financial obligations no longer leave borrowers with any leeway .
If, in your consideration, you decide that a loan is beneficial to you and can be financed over the entire period of the term, the following reputable providers may be shortlisted for you.
A comparison can then decide in a second step, which offer represents the most suitable for you individually. Reputable intermediaries with high placement rates are:
Credit intermediaries under the microscope
One of the best-known online credit intermediaries for the unemployed. Under certain circumstances, loans to non-working people are already provided from 1000 USD. The loan agreement is independent of the creditworthiness of the applicant. There are loans for unemployed between 3,000 and 250,000 USD. Important: The granting of the loan always occurs with this provider in connection with certain securities that are to be presented. A big advantage: Maxda’s credit is not tied to any specific purpose. In many cases, a loan is granted in the presence of collateral. Even without credit bureau, the unemployed can apply for a loan here. For non-credit bureau-linked loans, however, the maximum loan amount of 3,500 USD is the limit. The use of the loan is also earmarked at Creditist.
1 × 1 credit has specialized in granting “problematic loans” and is thus also aimed at unemployed people who are looking for financial relief. 1 × 1 credit does not provide credit bureau information and no credit bureau entry is made as part of the lending process.
Anyone who chooses this loan provider will claim a loan that is fixed in terms of amount and duration: it is a loan of $ 3,500 tied to a term of 40 months. With an effective annual interest rate of 13.32%, this results in a monthly rate of 109.15 USD. Although the fixed specifications are perceived by some customers to be disadvantageous, 1 × 1 credit nevertheless convinces with one of the highest placement rates in a nationwide comparison.
Credit intermediation platforms can be a cheap and flexible alternative.
The credit brokerage platforms, which have been successful in the US for a long time, are now also on the rise in Germany and other European countries. The principle is simple: Investors who are looking for a lucrative return invest in private loan projects. Loan seekers publish their applications on the credit intermediation platform and promote the favor of investors.
Both parties benefit from this simple principle: Investors receive a high rate of return, which in this form has long since ceased to be offered by the major banks, and the loan seekers receive a loan of the desired amount and duration, which they will receive in this form certainly would not get at one of the leading credit institutions.
The relationship between supply and demand
Decides very often whether there are enough private investors to obtain a loan. Anyone who can prove that they have collateral such as their own vehicle or a positive credit bureau report increases the chance of a successful loan brokerage significantly.
Even with the credit intermediation platforms there is no guarantee that promises a loan to an unemployed, but the placement rate is above average.
If a loan project is successfully financed by private investors, the desired loan amount is distributed by a cooperating bank. The installments are collected from the account of the borrower at monthly intervals, including the pro-rata interest, from the following month and repaid pro rata to the investors. The most successful and well known platforms are trucredit and Centiloan.
The credit brokerage platforms are always suitable as an alternative, if the loan seeker has, for example, the above-mentioned credit intermediaries no prospect of a loan to the desired Kredinten.
Anyone who is unemployed, but still has the chance of a conventional loan.
In any case, make the necessary applications after you have made a comprehensive comparison, which has made a first pre-selection in terms of reputable providers.