Credit without proof of income: from 100 to 3,000 EUR
May 23, 2019
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What does a loan without proof of income mean?
In the case of a loan without proof of income and Credit, the lender refrains from having the applicant or borrower confirm the existence of a regular income. This is usually done by presenting the last pay slips. Accordingly, income is only considered regular if you come from an employee or employment relationship. Self-employed and freelancers therefore do not have a regular income according to this definition.
Obtain a loan without a fixed income
Loans without Credit and proof of income, even without a fixed income are rare to find. Although the offers are piling up in the internet, these are to be treated with caution, as very often dubious providers hide behind them. A missing fixed income can only be compensated by existing assets. A typical example of this is the mortgage on a property. Movable valuables can be used as collateral by means of a mortgage loan. Reputable providers will always demand some form of security for the granting of a loan. You should always refrain from other offers as a customer!
Loanario, however, is taking a different approach here: a proof of income is needed. The income must be at least 500 euros, so you get a loan from us. The reason: Loanario exclusively awards low-interest short-term loans for comparatively small amounts. As a result, the risk remains within a manageable framework – much to the delight of our customers!
Are there any advantages to a reputable credit without proof of income?
The obvious advantage of having a credible income-free loan is that no fixed income needs to be proven. While this may seem like a rescue in distress for one or the other, it also carries significant risks. Borrowers run the risk of borrowing and running into financial difficulties.
At Loanario, customers do not have to worry about something like that. We only grant loans through relatively small sums, keeping the risk within bounds – both for us and for you! Loanario does not charge any processing fees or commissions and lends to people with a rather moderate credit rating. In addition, credit requests from us are not forwarded immediately to the Credit. Your personal Credit score remains untouched!
Credit without income and guarantors
In principle, a loan commitment with guarantee is not possible for us. We may be able to check the individual case, but generally do not offer the option.
What is a guarantee good for?
If your credit rating is insufficient to hold a loan, a guarantor may be called in if someone agrees. The prerequisite for a guarantee is that the guarantor has a sufficiently high credit rating in order to be able to intervene in the event of a payment default for the debtor. The guarantor undertakes to do so until the debtor can meet his obligations again or until the loan is fully repaid. The risk of a default thus falls only for the bank, but not for yourself and certainly not for the guarantor.