Private loans VS Bank loans

Private loans VS Bank loans

To make this evaluation and check what are the differences of particular loans vs. bank loans let’s see what happens when we first turn to a bank; To start this bank, do an analysis on the borrower. You will be asked to demonstrate in a real and clear way that you have certain job stability, which is also working in a company that has solvency in its sector. And added to all this they will periodically review our work activity and verify that we are effectively continuing in our job and things have not changed much; We also refer to our economic activity, how our finances are and how our savings and solvency capacity has evolved.

Demonstrate our economic capacity

Demonstrate our economic capacity

As we can see, it is not enough to demonstrate our economic capacity, we can also be “monitored” so that the financial institution itself feels safe after having granted the loan. In summary, if we are trustworthy clients in a bank, we will obtain the credit if we are not, most likely they will deny it to us. And this is one of the peculiarities that we find when making the comparison between private loans vs. bank loans The bank will also take into account the loan repayment fee we have requested, it will never exceed 40% of our income and of course, under no circumstances should we appear on the Financial Credit Institutions lists.

Purpose of the money

Purpose of the money

An important issue around private loans vs. Bank loans is that in the case of bank loans we will always have to give explanations about what is the purpose of the money we are asking for. Around this matter the bank will decide whether or not to grant the loan.

It is an awkward situation for the client that will have to give so many explanations, especially since these justifications are in some way inferred in our private life.

We continue to analyze private loans vs. bank loans; In the case of private loans, this is an excellent alternative to be able to get the money and not have to go through the whole process that we mentioned above.

In the case of the private lenders company we will never be asked for data that has to do with the purpose of the money we are asking for or any kind of justifications, apart from that it is also possible to request credits are in the financial credit institutions lists or without having of a monthly payroll.

You don’t have to present a payroll

You don

Given the fact that we don’t have to present a payroll and we don’t have to worry about being on a list of delinquents, new expectations are opened for obtaining the necessary liquidity. The only thing that is going to be required of us is that we have a property that will be the guarantee of the loan that we request. In this company of private lenders we can put as collateral almost any object of value, from real estate, vehicles, art collections, etc. We will be granted an amount of money that will be limited to 20% of the value of the guarantee.

When in doubt about private loans bank loans, private loans are gaining in speed and requirements, not in interest, where the bank still has lower interest rates.

Given the urgency of the needs of people who are in special situations, time is an important factor and being able to obtain cash in less than 72 hours we can consider it almost a luxury.

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