Due to a lack of creditworthiness, certain measures can be taken which still allow short-term lending. repay a bank a month, so take out a loan to do it all at once, just because of the credit bureau I get nowhere. Need urgent money not getting credit – what now? Loan seekers who regularly receive a good income from a permanent position, but have a negative credit bureau information, with which they do not receive credit from German banks, can alternatively run their loan application through a credit intermediary who also arranges loans without credit bureau. But what are the specific reasons why a loan is denied?
Alternative for those who do not receive credit from the house bank.
Credit applications are increasingly being rejected by banks. For example, the current crisis in the German banking industry is causing great difficulties for many banks. As a result, there is no risk appetite so that credit institutions are increasingly demanding more security. However, by no means all potential debtors can do justice to this situation, not least because the Bank’s credit rating, which remains important for the creditworthiness of banks, remains firmly rooted in their sometimes somewhat opaque and incomprehensible information strategy.
This shows that the probably most frequent reason for rejecting a loan is the actual or supposedly missing credit protection. Since, as already described above, the rejection frequency of credit applications is constantly increasing, but of course the credit demand does not decrease, the general interest is growing for all those people who, for whatever reason, do not receive credit from a normal house bank.
Personality of the borrower
Of course, a distinction must first be made according to one’s own field of application, that is, the personality of the borrower. Especially for private borrowers, ie those who need the loan to finance their daily lives rather than as companies, but specifically in their role as so-called consumers, the list of possible loan options is long.
If, despite existing security, debt financing fails due to a negative entry made in recent years, it is advisable to take out a so-called Swiss loan. These are normal, albeit limited, loans that the Swiss credit institutions also like to grant abroad. Characteristic of these bonds is above all the conscious renouncement of the credit institutions to a credit bureauinformation.
Although security is thoroughly checked, unlike domestic credit institutions, no credit bureau information is obtained. Especially for potential borrowers with adequate collateral but negative credit bureau information this is a real alternative to normal credit. It should also be noted on the so-called personal loan, which is used by more and more borrowers.
Unlike a normal loan, this loan is not given by a house bank, but by another person. This initially affects the cost of borrowing, which is often cheaper than traditional bank loans, but also in connection with lending. The risk appetite of private lenders is generally much higher than that of credit institutions, which of course benefits borrowers who do not receive loans from a house bank.
However, if the prospective borrower is a company, then equity solutions such as mezzanine capital are particularly appropriate.