In order to bridge financial bottlenecks, such as an unexpected bill or a car repair, small loans are suitable. These are now available at many banks but also at various online providers. But is there even a chance of getting a loan with a negative Private Credit rating? This question can be answered with a clear “yes”.
At this point we present the best provider of small loans without Private Credit.
Small loan without Private Credit at a glance
- Various platforms allow a small loan without Private Credit
- Neofunding has the best offer
- Private Credit-independent risk certificate increases the chances of getting a loan
What is a small loan?
A small loan is a small loan, which is usually taken for a short time. A small loan is characterized by the fact that it is quite low sums, usually between 50 and 1,000 euros. Some companies also offer small loans up to 3,000 euros. The maturities are usually low and are between 7 days and 30 days. After expiry of the term, or on request already before, the loan is triggered in one installment. A big advantage of this type of loan is the speedy processing of loan requests. The customer usually knows after a few moments whether the application is approved or not. Once all necessary documentation has been filed, the borrower does not have to wait long for a credit to be credited.
Where do you get a small loan without Private Credit?
Platforms such as Neofunding and Express Credit have specialized in small loan lending. These represent a good alternative, if the house bank does not grant small loans and you do not want to use installment credit. These marketplaces are enjoying increasing popularity, not least because customers with slightly negative Private Credit get the chance to get a loan.
Other small credit providers include the so-called peer-to-peer platforms. Their job is to provide loans between individuals and to ensure the smooth running of the loan business. Among the best known companies are trucredit and smava. Anyone looking for a loan without Private Credit will find the P2P providers. For example, trucredit deliberately refrains from asking Private Credit to make sure that lending remains a confidential matter. For the credit check, other factors, such as proof of income, are taken into account.
A small loan without Private Credit information is also possible with various online pawn shops. The principle of such platforms is easy to understand: Customers can pledge their valuables and receive the estimated value as a credit to their account. Suppliers like divapawnshop completely refrain from credit checks and information about earnings. The pledged valuables are considered as collateral in this case. If the customer can no longer service his installments, the pawnshop retains the value and auctioned it at auction. It should not go unmentioned that not very many borrowers really have valuable heirlooms in the house and thus the offer is not for everyone.
Other providers such as Crediter or maxcredit advertise that they provide Private Credit-independent loans. Small loans are not, however, in all cases. The company maxcredit, for example, allows loans only from 3,000 euros. Whereas with Crediter a loan is also possible from 200 euros.
Neofunding has the best offer
Of all the vendors that we examined, Neofunding convinced us the most. A negative Private Credit entry is usually not a reason for rejection. Even with a not flawless credit rating, borrowers at Neofunding have chances of getting a loan. The provider loans between 100 € and 3,000 € are possible. The terms start at 7 days and end at 30 days. However, Neofunding allows you to extend the term to 60 days and pay off the loan in two installments. This is especially useful if you have borrowed the maximum loan amount. This 2-rate option can be booked upon signing the contract and costs 49 euros.
If you need the loan immediately, you can use the express option. This allows the credit of the money within 30 minutes, provided that the customer has all necessary contracts on weekdays sent to 14 clock. Also this service is not completely free and is estimated with a fee in the amount of 39 euro.
In addition to the usual Private Credit query, the company creates its own risk certificate, which should convince the bank of the creditworthiness of the customer. Borrowers who have received a credit rejection because of their Private Credit scoring will get a real chance for a small loan. The credit check on small loans are based on different factors than with a normal installment loan.
Our conclusion: Neofunding convinces with its small loan offer
There are many platforms on which you can get loans without Private Credit. But not every offer is equivalent and hardly anyone has the time to compare the providers. No one can fool Neofunding in the matter of small loans.
By creating its own risk certificate, which is independent of the Private Credit rating, Neofunding increases the chances of obtaining a loan for all medium-credit clients.