Alternatives for everyone who does not get a loan from the bank

By | February 27, 2020

With increasing frequency, loan applications from banks are rejected. This is justified in various circumstances. For example, the current German banking crisis is making many banks difficult. Accordingly, there is no sense of risk-taking action here, so the banks are demanding more and more security. However, not all potential borrowers can match this fact, especially since Credit Bureau, which still plays an important part in the creditworthiness check of banks, adheres to its sometimes somewhat opaque and difficult to understand information policy. This makes it clear that the most common reason for the refusal of a loan is the actual or only supposed lack of security. As the frequency of rejecting credit applications, as mentioned above, is increasing steadily, but the need for credit is of course not decreasing, the general interest in alternative credit options for all people is increasing. who for whatever reason do not get a loan from a regular bank.

Who are the borrowers?

Who are the borrowers?

The first step is to differentiate according to the personal area of ​​application, i.e. the person of the borrower. The list of possible borrowers in particular is for private borrowers, i.e. those who need the credit to live their daily lives and do not act as entrepreneurs, but rather specifically in their capacity as so-called consumers Alternatives to long credit. If borrowing ultimately only fails despite existing collateral due to a negative Credit Bureau entry from the past, it is worth taking out a so-called Swiss loan.

These are common, albeit limited, loans that Swiss banks like to grant abroad. What is characteristic of these loans is, above all, the banks’ deliberate waiver of German Credit Bureau information. The collateral is thoroughly checked, but unlike the German banks, Credit Bureau information is not obtained. Especially for potential borrowers with appropriate collateral but a negative Credit Bureau information, this possibility represents a true alternative to the ordinary loan Is claimed.

Classic bank loans

Classic bank loans

In contrast to the usual loan, this loan is not granted by a bank, but rather by another private individual. This affects the cost of the loan first, corresponding credit ratios are often cheaper than classic bank loans, but also become relevant when lending. For example, private lenders are generally much more willing to take risks than banks, which of course benefits borrowers who do not get loans from a bank. However, if the potential borrower is a company, equity solutions such as mezzanine capital are particularly suitable. In addition, most companies are also entitled to government subsidies in certain situations, especially for investments.

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