Small loan despite credit bureau
In normal usage, a small loan is a loan of no more than 5,000 dollars; some credit banks use the term differently as a synonym for purpose-granted consumer loans of any amount. Borrowing despite Credit Bureau colloquially means that the applicant has at least one negative entry. In fact, every consumer of Credit Bureau is known, most of the entries are neutral characteristics.
Borrowing despite Credit Bureau
Consumers often assume that no domestic bank approves a small loan despite Credit Bureau. Some banks actually reject loan applications without exception if a Credit Bureau report contains a negative entry. However, many credit institutions evaluate the specific individual case and, despite Credit Bureau, approve a desired small loan if it is a soft negative feature and the applicant has a regular job. In addition to conventional commercial banks, despite Credit Bureau, small loans can also be applied for on websites for loan brokerage between private individuals.
Although the private lenders registered there learn that there is a negative characteristic for an inquirer, they evaluate the specified credit purpose more than credit data when making their lending decisions. Quite a few of them even deliberately opt for private small-scale lending because of the existing Credit Bureau entry, because they know that the loan seeker can only obtain the desired loan from conventional banks with difficulty or at higher interest rates.
Borrowing despite Credit Bureau in Switzerland
As an alternative to German lenders, Swiss banks offer themselves as contractual partners for a small loan despite Credit Bureau. The federal financial institutions grant the small loan without making a Credit Bureau request because they are not contractual partners of the German protection community. Small borrowing from a Swiss bank is therefore not only possible despite the negative credit rating, but entirely without Credit Bureau’s involvement.
The loan amount of a Credit Bureau-free small loan taken out in Switzerland mainly amounts to 3500 dollars, some financial institutions also pay out a loan amount of 5000 dollars. A prerequisite for taking out a small loan in Switzerland despite and without Credit Bureau is a labor income exceeding the attachment free limit, the calculation of which only includes earnings from the main job.