When it comes to loans without collateral, the loan without a bank should not go unmentioned. This alternative form of borrowing money is becoming increasingly important and is becoming increasingly popular with consumers. If there is no bank involved, it is more serious for many loan seekers and they do not feel ripped off, even if they may have to pay higher interest rates. But how does it work with credit without a bank. Who lends the money and how to find the right people on the Internet.
Special platforms like Lite Lender and Astro Finance
Real virtual credit marketplaces have been established, where people can be found who want to lend money and people who want to borrow money. Private investors are highly motivated, because lending money to private individuals can generate significantly more returns today than investing in overnight or time deposits. Lending money is very attractive in terms of yield and therefore there are more and more private investors who are willing to lend part of their savings to strangers.
What advantage do borrowers have
When loan seekers turn to a platform where credit can be obtained without a bank, they usually have very special wishes that are usually more difficult to fulfill through a bank. There can hardly be any other reasons, because even if the loan is not granted by a bank, at least one bank is interposed and the credit rating must also be in order.
But unlike when you go to the bank, you often get your loan from several private investors, but you don’t get to know them privately. If someone needs 5,000 USD credit and presents his project on the platform, it may be that five, six, seven or even more private donors invest their money in the project. The settlement is carried out by a bank, but the money comes from private individuals and goes back to private individuals.
The advantage is that there are hardly any restrictions. Anything you like is allowed. The finest things are financed here. This ranges from a gift for a milestone birthday to a driver’s license to setting up a shop.
Credit without a bank, not without a credit rating
However, anyone who believes that everyone gets a loan without a bank because creditworthiness is irrelevant is wrong. Of course, creditworthiness is a prerequisite, because the donors want their invested capital back with interest.