A Personal Payday Loan is a loan that differs from the classic installment loan on a crucial point: the lender. This is in the case of private credit, namely not a credit institution, but usually a merger of several private investors. Credit terms can also be significantly different from regular personal loans, as private investors often have other reasons for lending than banks. For example, they may approve funding with the intention of supporting a particular project. This makes it easier for some loan seekers to obtain a home loan. Besides, the settlement of a home loan is usually easy, fast and less bureaucratic than with the bank. Read on to learn how you can make positive credit from private experiences.

For whom is a loan from private?

Although the loan is privately accessible to everyone, for people who can not get a loan from a bank, he is particularly interesting. Most banks create their financing products on the basis of a specific clientele in order to keep loan defaults to a minimum and to ensure repayment. Among other things, such terms often include an impeccable Schufa entry and an income from permanent employment. Smaller sums are given by the house bank reluctant because it makes the same processing effort a lower profit.

These are the requirements for positive credit from private experiences

Above all, it is important – as with any other loan – to carry out a credit comparison before closing the loan. In this way, you get an overview of the current conditions and can identify dubious providers. Caution is needed in schufafreien loans that promise very favorable conditions.

Private loan from Good Finance

At Good Finance, the private funding methodology has been proven to confirm the credit of private experience of our clients. Since 2007 we offer private financing. Such a loan can be raised at Good Finance up to a maximum of € 50,000. Consumers who are interested in a private loan can choose between a term of either 36, 60 or 84 months. In addition, he is offered under particularly flexible conditions: The installment loan can be used arbitrarily; Special repayment and early repayment are possible free of charge if required.

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Your Good Finance editorial team