In addition to the classic products offered by various companies we find private loans. Let’s find out what are the best opportunities we can find online that are first and foremost legal and safe. So let’s see how the loans between private individuals work without advance expenses, with the regulation and the advantages of this solution.
Loans between private individuals without advance expenses: how they work and what requirements it takes
When looking for a loan it is good to evaluate all the solutions that allow us to obtain the sum of money we need. There are many companies that offer loans at rather advantageous terms, but surfing the web it is possible to run into private loans. Mainly there are two questions that arise before this solution. Is this a form of legal funding? If I do not trust a bank, how can I be sure it’s not a scam? Regarding the law it is good to be very careful, since online certainly do not lack the illegal solutions in any area. For this reason it is good to carefully analyze the internet site that offers this type of financing. There are several online communities that allow you to obtain loans between private individuals in a completely legal. These are in fact authorized marketplaces, where they are put in contact those who offer financing with customers who are instead looking for a loan for any purpose.
In order to receive a loan between individuals, no upfront fees are required, as registration with these communities is completely free. All you need to do is enter your personal data and the type of occupation as well as other useful information to define your profile. You can choose whether to operate as a Lender or a Requestor. Therefore, thanks to the social lending community, there is an advantage for those who are interested in investing in this market, who have the opportunity to make money from their savings and at the same time can help a private individual to realize their project. As defined by the name itself, social lending has the goal of creating a community where people help each other, to make a profit on both sides and without financial intermediaries. Especially when looking for a private loan on the web it is good to pay close attention to the reliability of the sites we visit. If you come across any internet site that involves upfront expenses, then we advise you to stay away from them, since it is most likely a scam. By relying on authorized websites you will therefore have security and transparency as if you were visiting your bank.
Obviously, as with classic loans, in this case some requirements are necessary to obtain the sum needed. These are regulated by the community itself, and include first of all the personal data requirement for which the client’s age must be between 18 and 75 years. Regarding the economic requirements, it will be necessary to present a document that demonstrates your income, both for employees and for self-employed workers. So it is possible to apply for a loan between private individuals through the presentation of the paycheck, both for public and private employees, while for pensioners, the presentation of the last pension slip will suffice. Finally, if you are self-employed you will have to present the last tax return, in order to allow you to evaluate your earnings and define the maximum installment that you can face. These are the requirements mainly required, to which each community adds more according to its own regulation.
Best loans between individuals without expenses: legal and secure service
There are several communities that we can find online if we are looking for a private loan that is safe and reliable and above all legal, to avoid unpleasant problems with the law. To give you a good overview of how this form of financing works, we present the best solutions that can be found on the net, seeing how they work and what are the main features.
The first internet site we want to present is that of Smartika. As pointed out on the homepage itself, it is a payment institution authorized by the Bank of Italy, and supervised by it. The objective of this institute is to put in contact those who are looking for funding, those who are identified as Applicants, with the Providers, who offer their money on loan. With Smartika you can request a loan ranging from 1,000 to 15,000 euros, to be returned from a minimum of 12 up to a maximum of 48 monthly installments. Among the advantages of this platform is certainly the immediate graphics that allows us to make the request just as if we were addressing a credit institution.
A second good option is the one that takes the name of Prestiamoci, whose motto is Ask, Presta, Sogna. It is indeed an excellent opportunity, which allows you to dream both the applicants, who will finally be able to realize their projects, and the lenders, who will be able to obtain excellent profits from their investments. The lenders currently active in the community of Prestiamoci are over 900, and the number is expected to grow as the return that can be obtained by lending their money reaches up to 8.87%. So the profits are definitely interesting, which pushes individuals to invest and as a result those who are looking for funding will most likely find the lender willing to grant it.
The last community we want to report, obviously not in order of importance, is BLender. Here you can get a loan of up to 10,000 euros, regardless of what is the purpose of the loan itself. The only requirement that is required to obtain the loan you need is to receive a monthly income of at least 1,000 euros. BLender can be the right choice if you are looking for a loan, since it will be possible to obtain it at a very advantageous level compared to what happens when you contact a bank. Furthermore, the application procedure will be very simple, since you will be put in touch with people like you, who are willing to invest their money to get some money.
Why choose private loans?
Given the wide range of loans offered to us by the various banks, a question at this point may arise spontaneously. Why choose serious private loans compared to those offered by authorized credit institutions? The reason must be sought in the credit conditions. If entrusting us to a bank the characteristics of the loans are predefined and can not be changed, by relying on a private individual it is possible to agree on the interest rate and on the repayment methods according to their needs. The margin of negotiation in this case is greater as we are not addressing a bank that must comply with a regulation that defines the conditions necessary to grant a loan.
Furthermore, a further aspect to be taken into consideration concerns the additional costs that are often provided by banks that grant loans. In the case of loans between individuals, these expenses will not be met, as the procedure is completely online and does not provide for the cost related to the insurance coverage of its financing, which very often involves a considerable expense. The only cost that will have to be dealt with in the case of loans between private individuals without advance expenses, as well as interest, is the commission that determines the profit of the site offering the brokerage service. This cost is regulated by the chosen community, and varies between 1 and 5% of the amount requested on loan. So it is still a rather acceptable cost, considering that the platform allows us to obtain funding between individuals in a simple and safe, keeping us away from any scams that can be found on the internet.
Loans between individuals without income: how to get them
Among the advantages of loans between individuals as we have said there is the greater ease with which it is possible to obtain the desired financing. To confirm this, we point out that it is possible to obtain a loan from private individuals even without income. In the absence of an adequate income guarantee it is difficult to obtain the amount of money we need by contacting a bank or financial institution. In the case of loans between individuals we have the great opportunity to access funding anyway thanks to the presentation of some alternative guarantees.
The first solution is the presentation of a guarantor, who can present the required income guarantees in our place. In this case we can receive the desired private loan just as if we were to provide the required guarantees. A valid alternative is represented, for example, by the pledge credit offered by various private individuals. This type of financing is very simple, and provides for the provision of the amount of money desired by the customer against the presentation of a pledge. This can be any property of our property which will constitute our guarantee to obtain the desired private loan.
To obtain pledge credit from individuals, you can use valuables such as gold objects, diamonds and other precious stones, watches, earrings, necklaces, bracelets and so on. This is the most commonly used solution in the case of loans between individuals without income. In any case it is good to specify that to obtain them it is possible to engage any type of property, provided that this is obviously accepted by the creditor. For example, loans on a pledge of the car are often offered or, for larger sums of money, real estate loan loans are common, involving the mortgage of a real estate property. Therefore, lending solutions between individuals are not lacking even in the case of customers without income.