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If you want to take out a loan quickly and easily, you no longer have to make an appointment at the bank to apply for financing on site.
As an alternative, consumers are increasingly using credit comparison portals that arrange loans online. Not only do banks act as lenders, but also financial service providers a loan from individuals to offer. These bring together potential borrowers and private donors.
Digital loan completion offers many advantages
A loan application is as easy as ordering new clothes or booking your next vacation – that is the aim of the loan intermediaries who offer their financial products online. Ultimately, they serve exactly what consumers are specifically looking for these days: simplified processes that work digitally and therefore without contact. Enter data on your smartphone, upload documents online, confirm your identity by video call and digitally sign the loan agreement – it only takes a few minutes from data entry to the conclusion of the contract. The lender can start processing and reviewing the application quickly. Ultimately, this means that the payout is much faster than when applying for a loan at the local bank.
In many cases, the money is in the borrower’s account on the same working day or within 48 hours at the latest.
Loans from private individuals interesting for the self-employed
Freelance workers often have a hard time getting a conventional bank loan. The reason for this is the fluctuating income, which depends on the order situation and is therefore not stable. From the bank’s point of view, there is therefore a higher risk of default than for employees with permanent positions. Because they can prove a regular income that is the same every month. However, there is an alternative for the self-employed and freelancers: loans from individuals.
Anyone looking for loans online will also find financial service providers who specialize in this type of loan on comparison portals. They work in such a way that potential borrowers and private financiers are brought together. As with bank loans, the creditworthiness is checked, but the framework conditions can be negotiated individually and are therefore much more flexible. In contrast to bank loans, fluctuating income is not an obstacle.
On-line loans from individuals for low income earners
Not only the self-employed, but also low-income consumers can apply for loans from private individuals. While at banks with the Household bill Use certain lump sums and set specific income limits, this is not the case with loans from private donors. More flexible framework conditions make it possible that a loan can be concluded despite lower income. Ultimately, the private donors themselves decide whether and on what terms they lend money to other private individuals.
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