Everything is getting more expensive, but the incomes are falling – it’s no wonder that more and more people also need a loan. But the banks are hardly willing to take any small risks. As a result, more and more loan applications are rejected. It is precisely people with low incomes who need a loan to be able to deal with difficult economic situations in everyday life. More and more private credit brokers are therefore specializing in this clientele.
Private brokers provide credit for everyone
Everyone can simply register on the internet on a platform where private loans are arranged. However, it is still important to provide all important information about your creditworthiness in writing when you register. This primarily includes monthly income and the fact whether there are further loan commitments and what the current housing situation is like.
Because if you have to pay a high rent, you obviously have less scope for repaying a loan. After such registration, a loan can be applied for. In contrast to a bank, the reason for the loan is even more important: The applicant can give detailed reasons for why the money is needed – and should do so, because private individuals who make subjective decisions step in as lenders. Such a private loan is really a loan for everyone – no further requirements are required.
Students or pensioners can also get a loan in this way. However, comparatively high interest claims must be expected. For an initial loan, 15% and more are quickly due. This applies even if it is a small loan that is being repaid quickly. Amounts up to 5000 USD and terms up to 60 months are common.
Beware of dubious providers
It is common for the operator of the platform to charge a commission of around 1-2% of the loan amount – but not the payment in advance. Those who should already pay without ever having received any money should better refrain from this credit broker. In most cases, the loan amount is not paid out.