Loans without proof of income

It is almost impossible for unemployed people to obtain a loan from private or public banks. After all, credit institutions require pay slips or proof of income for almost every loan in order to determine the creditworthiness of the customer.

However, since unemployed people do not have a job income, but receive money from the job center or the joint venture, it is difficult for them to obtain a loan in the conventional way. That is why there are now internet portals that specialize in loans without proof of income. For example, unemployed people can get a loan from a private donor without having to provide explicit proof of their income.

Lower interest rates

Lower interest rates

For the loan without proof of income, potential borrowers and potential lenders can get in touch on the corresponding website to get the formalities out of the way. In addition to the aspect of payroll, which plays almost no role for private donors, there is another advantage that the loan without proof of income brings with it: interest rates in this credit sector are much lower than with banks, as there are no personnel costs.

Conclusive concept for repayment

Conclusive concept for repayment

In addition, banks demand exorbitant interest rates, particularly from repayers whose credit rating is considered weak. If they get a loan at all. When brokering the loan between the applicant and private individuals, it is usually the case that the prospect for the loan without proof of income must present a conclusive concept that documents and justifies the required loan amount and the credit requirement.

This opens up options for the lender in relation to the desired concept for granting the loan and the amount of the loan. The security of the repayment can also be explained in a comprehensible manner by the potential borrower using an appealing concept.