It has become fashionable for a few years that consumers no longer turn to a bank when they need a loan, but get a loan from private individuals.
What are the advantages? What is so special about it?
Lending companies are at the forefront of online platforms when it comes to brokering a loan from private individuals. In contrast to the banks, freelancers and the self-employed are very welcome here. In normal banks, this professional group is too happy to be rejected. Anyone who wants to borrow money from these online portals has to make their credit wish palatable to members with a detailed description.
But the term and the interest rate determines the loan seeker itself. The affiliated members can now opt for and against. It is important that the money comes not only from one member, but from several people.
Who can apply for a loan?
Any person who is at least 18 years old may apply for a personal loan. The maximum age should not be over 70 years. A residence in Germany and a checking account are also required. The applicant must also have a fixed income so that repayment of the loan is guaranteed. On these platforms, even those people get money that has already been rejected by a bank. However, there should be no serious negative entries in the Schufa. This includes, for example, an affidavit, insolvency or arrest warrant.
How much is the request?
A request for a loan from private individuals does not cost money. Only when a credit agreement has been concluded, a commission is due. It will be charged at the first installment. For many, this opportunity is a chance to borrow money when banks have refused to lend. Not so serious negative Schufa entries play only a minor role here. But these must not be serious.