Are you looking for a loan without a guarantor, but the bank you requested insists on a loan guarantee for approval?
We are at your side with information and offers in your loan search. A loan with a guarantor or co-applicant is avoidable. How it works and what you should consider, our credit advisor summarizes the loan guarantee for you.
Loan without guarantor – regular loan
Virtually every regular credit institution has offers for loans without guarantors for its borrowers. On your own responsibility, credit is granted without additional collateral if sufficient creditworthiness can be demonstrated for the loan. On the one hand, the credit rating proves the score on the other hand, the income subject to social security contributions. The score allows the credit default risk to be assessed as a numerical or numerical value.
Regardless of the provider of the scoring, both personal values and data from comparison groups are included in the evaluation. A personal value would be, for example, past payment behavior. The information may come from the Credit bureau excerpt or may be based on other sources, such as previous lending.
Comparative values refer to citizens in a similar living situation, age or gender. Also on information about the payment behavior of borrowers who work in the same industry. For example, a credit institution may deny the loan without a guarantor, but do not request a guarantor for other similar applications. It determines which requirements a credit institution actually makes.
Avoiding a loan with a guarantor – often not a problem
Across Europe, commercial loan providers are only allowed to grant loans if they are considered “safe”. Only private loans are exempt from this requirement. How a credit institution defines secure lending is largely up to the providers themselves. With a sufficiently high income and a clean school, a simple change of provider can be enough to solve the problem.
It is advisable not to apply for a legally binding loan in this case, but to make a non-binding advance credit request. In contrast to the binding application, the non-binding preliminary request worsens Credit bureau, but not if it is rejected. The easiest way to find a suitable loan without a guarantor is to use free loan comparisons.
If a bank loan is to be applied for, the offers for interest rates dependent on creditworthiness are further down in the listing. The non-binding preliminary credit check by a person can usually be recognized by the delayed loan approval. Loan offers with automatic immediate approval only check the household bill, but do not query Credit bureau without obligation (neutral).
Fast instant loan without guarantor – liquidity in 24 hours
Not everyone looking for an instant loan without a guarantor or co-applicant needs large amounts of credit. If there is not enough discount to pay an urgent bill, credit offers have increased in recent years. Short-term microcredit can be granted with small income and even with negative Credit bureau. Loan offers start at around $ 100, like Best Bank’s emergency money call.
Existing Best Bank customers (Best Lender partners) just press a software button and the system checks the credit request. The software then pays 100 USD to the customer account, even on public holidays and in almost all cases. Vexcash offers another alternative (initial application up to 500 USD credit) with its microcredit. The first application is made in connection with Videoident.
In this way, the legally binding loan application can be made within less than 30 minutes. All that can be proven is a secure income of at least 500 USD per month. Approved loans – of course without guarantors – are paid out by the company within 24 hours. For existing customers, the software even enables real-time credit checking and payment.
Installment loan without guarantor – even without Credit bureau
Applying for a loan without a guarantor is particularly important in the case of real creditworthiness problems. Every guarantor takes a risk that the liability case arises. With a negative Credit bureau and a pending entry, a high guarantee risk must even be assumed. The loan without Credit bureau from Liechtenstein accommodates the desire to regulate finances independently.
The creditworthiness for lending can only be proven by the employment income. The credit institution already rejects credit guarantees in the application provisions. Nevertheless, unlike advertising, Credit bureau-free loans are not distributed with the “watering can”. There is no credit for over-indebted applicants or with an entry in the public debt register of the local court.
Despite Credit bureau – loan without guarantor from Germany
With actual credit risk, with or without negative Credit bureau, the loan guarantee is not the only alternative to being creditworthy. Security for lending could also be demonstrable through valuable property security. For example, when it comes to a loan for pensioners, which would usually not be able to be approved without a guarantor, the paid house offers the bank security.
Another alternative could be a savings contract that is not yet “ready” for payment. The vehicle letter of the paid vehicle enables the way out of the guarantee loan particularly often. We also recommend private loans as a conceivable alternative so that you do not have to offer a guarantor to secure loans.
A loan without a guarantor could come from private donors via Best Lender or Good Finance, even though Credit bureau has been settled. The bidding process reduces the credit risk for donors to small partial amounts. An existing vehicle used as security for the property further increases the credit chances.