Loan seekers can borrow money quickly from their house bank or in a private environment. But whether you will get money from the bank quickly is another matter entirely. If you want to borrow money, you should have a good credit rating and if possible no negative credit bureau entry.
If the savings are not enough to pay the upcoming car repair or another urgent bill, then you have to borrow the money from someone else. If you then go to the bank and the application was rejected by the bank because, for example, you have an irregular income, all that remains is alternative financing options. One possibility is the relatives loan. W hen borrow money from private from friends or relatives, is for the lender is always the risk of a default risk. The advantage of a personal loan among relatives is that little or no interest accrues.
If you choose the family loan form, a written loan agreement is always advisable. Because an oral loan contract carries too great a financial risk. A verbally agreed family loan contract can quickly become a gift. Individuals or self-employed can get money quickly from online direct banks or online P2P credit platforms. Through a loan comparison on the Internet credit seekers can quickly borrow money on favorable terms. An online loan platform is an interesting alternative to online banks. Contacts to professional lenders are established in these portals. You can borrow between 1,000 and 50,000 USD there. Terms of 12, 24, 36, 48 and 60 months are possible. The interest rate depends on the creditworthiness.
Borrow money quickly on the Internet – the online personal loan
Consumers can borrow money quickly in an online credit marketplace. This loan alternative involves fewer risks when borrowing money than a family loan. Reputable private money lenders quickly hide money even from borrowers who have little or no equity. You can borrow money from other private individuals by creating an attractive loan project for investors on the platform. In this project, the borrower describes his personal situation and important details about the reason – why he wants to borrow money privately, for example. In addition, the borrower can post pictures. Based on the presentation of the loan project, the donors decide whether the loan project is trustworthy and whether the money is worth lending. Loan payments, repayments, credit checks and much more are carried out by the credit platform.
Why are there private individuals who lend money?
Borrowing money in the credit marketplace is good business for the private lender because the reputable private lender can achieve high returns. The personal loan from individuals and investors generates interest payments to the lender or lenders. People who want to increase their capital invest in P2P loans. When investing in P2P loans, it is important to diversify sufficiently. Diversification minimizes any loss.
Loan for self-employed people with poor credit ratings
Freelancers and the self-employed find it particularly difficult to raise money because they have to expect irregular income. If there is no loan from the bank, a private loan is an alternative. Since there is no fixed minimum income in the credit marketplaces, the lending chances are higher. Additional collateral, such as a motor vehicle letter, increases the possibility of lending. The loan for the self-employed despite a negative credit bureau is not found at German banks, but rather at private money lenders. P2P loans for self-employed are easy to apply online and there are no upfront costs. The application is checked in real time.
Procedure for private loan in P2P credit platforms
After the free and non-binding registration and credit check, enter your funding request in a so-called project. After the project has been activated, the various lenders are reached. If your project project convinces the potential investors, they will offer small amounts of money until the desired amount has been reached (swarm financing). The desired amount can be financed within a few hours. After the loan payment, repayment begins in monthly fixed installments. A partner bank takes care of the financial processing so that the money from your private account is as fast as possible.
Borrowing fast money from private individuals offers the following advantages
- Private credit is at your free disposal (private or business)
- It is not the bank that decides on lending, but the private investor
- Credit opportunity for freelancers or the self-employed with irregular income
- borrow money quickly, even if the bank has rejected your loan application
- Loan term can be selected between 12 and 60 months
- The interest rate of the loan is determined by the borrower
- no negative credit bureau entry in case of possible payment problems
- Employers and house banks find out nothing about taking out a private loan
- Agreement on flexible repayment arrangements for financing
- shorter negotiation times than at a bank
- no complicated negotiations with a bank
Conclusion: Seriously quickly borrow money and get money on the Internet
For loan seekers with a low credit rating, private borrowing via a personal loan internet platform can be cheaper than with house banks or direct banks. Design your loan project in detail and truthfully to convince private investors to invest. But if you have no negative credit bureau information problems, you can often get your money cheaper at an online direct bank. Private money Investors in the credit platform run the risk of not seeing the loaned money again in individual cases.