Many people in financial difficulty are now trying to find financing solutions to carry out urgent projects. And this, without going through credit organizations or banks. Getting a loan between individuals is sometimes the right solution. Indeed, it is not always easy to subscribe to a personal loan with the bank, when one does not have a stable professional situation. Fortunately, solutions are available to individuals who wish to obtain a loan without using the services of the bank.
Borrow without the bank: how to do it?
If you have an urgent need for money, a work loan or a consumer credit with a credit institution, know that it is now possible to take out a loan directly from an individual.
Loans platforms between individuals
In fact, we are now giving way to platforms that connect individuals who have funds with individuals who want to obtain loans quickly. These platforms offer the possibility of obtaining a credit whose amount varies between 2000 and 100 000 euros. For repayment, the borrower has a term that can range from two to five years, depending on the amount he wishes to obtain.
However, you must know that in order to access this kind of loan, the one who wants to obtain the credit will have to open an account with a credit organization like cofidis. In addition to traditional forms of lending, which offer the possibility of receiving financing at a refund with interest , there is now another type of loan that is expanding: the pawnshop.
The success of loans without banks via the loan between individuals
This type of loan is a real success with many people because it allows to obtain significant funding, the amount can go up to 200,000 euros. The main advantage of this type of loan is its simplicity of obtaining. It is a loan that requires very little formalities, it is simply necessary to present an ID, a proof of address and in some cases, a bill of property pledged. Before the conclusion of your loan, an auctioneer will assess the value of your pledge: the credit you are granted corresponds, approximately, 50 to 70% of the value of the pledge. As for the duration of the loan, it is spread over one year and can be renewed once.
Loans between individuals: their limits
Although loans between individuals can help people in urgent need of money, it must be said that this option can still present some risks. Indeed, even if there are already platforms that allow borrowers and lenders to be connected, the risks lie in the level of collateral. By contracting a personal loan with the bank, the borrower can subscribe to a loan insurance that protects him if ever his situation no longer allows him to meet the deadlines of his loan.
A pawnbroker between individuals
On the other hand, in a pawnbroking between individuals, the borrower risks losing his property immediately if he does not respect the deadline imposed to make his repayment. There are also risks that the borrower falls on a person who is not trustworthy. Loans taken from the bank offer, among other things, possibilities to change the terms of repayment if this option was mentioned at the outset but most importantly, with a loan at the bank, it is possible to simulate his loan and easily compare offers.