Monthly Archive: November 2019

Borrowing money without risk ┬╗safely, quickly & easily from private customers.

100% risk-free borrowing money from private individuals

100% risk-free borrowing money from private individuals

Would you like to borrow money without taking out a bank loan? You can also immediately borrow money from private donors. Fast, easy and without risk.

Private lenders decide for themselves who they lend money to, how much and on what terms. For borrowers, this can mean that they get a loan at low interest rates and also have a greater chance of lending. At banks, some groups of people with borrowing problems may experience problems. Lending money privately therefore offers more flexible options.

Find a private lender!

Find a private lender!

In order to find a private lender who can lend you money, you do not have to place an advertisement in the newspaper or the like. We bring prospective creditors and private investors together.

Even frustrated bank customers will find a good alternative on our platform. Classic forms of investment have long ceased to offer the desired returns. By granting a loan, you can invest your money profitably and help another consumer.

We bring borrowers and lenders together according to established rules. Every consumer can apply for a loan, be it an employee, pensioner, student or self-employed. Investors and borrowers must be at least 18 years old, have a permanent residence in Germany and have their own checking account with a German bank.

Borrow money cheaply from private investors!

Borrow money cheaply from private investors!

So that you can borrow money privately, you have to put your personal loan request online. Important information, in addition to the desired loan amount and term, is also information about yourself (age, profession, address, monthly income, etc.).

When lending money from private providers, the general conditions must be right and the lender must be secured. In addition to the identity, the creditworthiness of the potential borrower is also checked to ensure that it is creditworthy. Pay slips, tax assessments and other income documents can be used to check creditworthiness. If the borrower gives his consent, the Credit bureau data can also be queried. It is advisable to give such approval, because a Credit bureau query increases the chance of a loan.

Express your personal loan request!

Express your personal loan request!

The description of your loan request is a kind of application, because you want to draw investors’ attention to themselves and their loan request. It is particularly important to convince investors that you are able to service the loan.

In addition, many lenders want to know what the loan amount is needed for. You should therefore always state the intended use.

As a borrower, you must also specify the lending rate that you are willing to pay. The interest rate should be based on the default risk. That means: the better your credit rating, the lower the interest rate can be. However, if you have a low income, it is advisable to accommodate investors and offset the increased risk with a higher interest rate. The final interest rate will then be determined in consultation with the investor.

A loan approval can only be given if an investor agrees to lend the entire loan amount or if several are willing to fulfill the loan request. With several investors who fulfill a loan request, the advantage is not only that they share the loan amount, but also the risk. So it is also possible for people to borrow money who would have no chance at a bank.

What are the requirements?

What are the requirements?

In addition to the age of majority (at least 18 years old), the borrower should also have their own bank account. Depending on the lender, cash payments are also possible, but the majority of investors prefer a traditional bank transfer by bank transfer.

What documents are needed?

What documents are needed?

The required documents differ depending on the credit volume and the investor. In principle, you should have the following documents ready for all cases:

Your ID card or passport
Current bank statements with salary receipt
The last 3 payslips

Under certain circumstances, private investors may require documents such as:

Copy of the employment contract
Credit information (Credit bureau, credit score or similar)

When can the money be paid out?

When can the money be paid out?

After you have started your individual loan application online, we will immediately start to find the right lender or lender for you. Ideally, payment is possible on the same day. Of course, this largely depends on the loan amount as well as the term and your personal requirements.

What is a line of credit?

It is an amount of money that the bank or the financial institution puts at our disposal for a certain time. During the period in which you have that extra amount, you can use the one you need when you need it.

How does it work?

How does it work?

Its operation is like that of a current checking account, for which we can have an extra balance. Bank and client will set the balance limit which will be available.

In this way, we will receive the agreed amount of money and we can use it when we need it and pay interest for only for what we have used.

Although you also have to pay a small interest to have the account open and have that extra balance, but that depends on conditions and entity.

When the agreed period is over, the balance at the beginning should be restored.

Where to request a line of credit?

How does it work?

You can request it and get a balance of up to USD 5,000 for a maximum of 36 months, to use it whenever you want and whatever you want. In addition, it has no opening or maintenance fees.

Advantages of a line of credit

Advantages of a line of credit

  • Get immediate liquidity to use when you need it
  • You pay interest only for what you have spent
  • Convenience of balance management, use it whenever you want and for whatever you want

How is a credit line different from a loan?

How is a credit line different from a loan?

Although a loan and a line of credit are two ways to obtain financing for expenses or projects, they are not the same and have some differences:

  • In a loan, the bank provides you with a total amount in which you have to pay back in monthly installments, where the amount borrowed plus interest and commissions is returned, instead on the credit line you have a total balance that you use when you need until the agreed period ends, when you will have to replenish the amount of balance that was initially.
  • When the term of the credit line ends, you have the option of being able to renew, but in a personal loan it is not possible, it ends once the debt is settled within the agreed term.
  • Regarding the payment of interest: on the credit line you pay a small interest for having that total balance, and a smaller interest for the amount you use. But interest on the total amount is paid on the personal loan.

What are home equity loans?

Applying for a home equity loan will provide us with the credit we need for our economy, either to invest in a hopeful project or to cover a series of needs. However, we must add that such a loan will only be possible if we have a property in our name to be able, thus, to qualify for these loans.

What are they?

What are they?

When we talk about mortgage guarantee, we refer to the guarantee that assures the financial institution that it will not lose the amount borrowed in case of default or breach of the conditions previously established in the contract. That said, we must be aware at all times that in case of default, we will lose our property.

Therefore, an entity provides us with credit in exchange for ensuring that the loan is repaid with a property free of economic charges or with few charges.

Advantages

Home equity loans are easy to apply for and have advantages such as:

  • They offer larger amounts than a personal loan.
  • Home equity loans do not take into account delinquent lists.
  • They have flexible repayment terms, adapted to the applicant’s economic situation
  • It is possible to use the dwelling used as collateral while enjoying the loan and paying the fees.

Terms

In order to enjoy these home equity loans, we must meet minimum requirements demanded by the financial institution:

  • Be of legal age
  • Owning a property that we can use as collateral, provided it is not mortgaged.
  • The property must be free of economic charges or with few charges, depending on the entity with which we requested the loan.

How does it work?

How does it work?

In Lite lending company they offer a fast, flexible and uncompromising service. A financing which does not take into account delinquent listings, but does require having a property in our name free of charge or with few.

You have to follow these steps to apply for credit with Lite lending company:

  1. Fill out this little questionnaire

  2. We study your profile

  3. We advise you for free and without obligation

  4. Enjoy your home equity loan

Its operation is very simple. The first is to answer a small questionnaire through which to carry out an exhaustive subsequent study analyzing your profile in order to offer you the service that best suits your needs. And finally, offer the credit up to 60% of the value of your home with the best conditions.