Fast online loans are increasingly common loan categories. Among the categories of loans that have spread in recent years, also due to the economic crisis, there are those that can occur without guarantor, guarantees and pay slips.
In general, obtaining a loan without real estate, personal and payroll guarantees to be provided to the provider can appear very complicated. However, today there are interesting alternatives that can also be exploited by this category of subjects.
Fiduciary or honorary loans
A first form is that of the fiduciary or honor loan. This form of loan was designed primarily for secondary school or university students, who do not have sufficient financial means to complete their studies or who intend to continue their post-graduate course (for example with a master’s degree) or research doctorate).
The requisites that are required to be able to access them are essentially the merit, therefore the student must have demonstrated to have a worthy course of study, and others of an economic character.
Among the latter there is a low family income and the fact that a scholarship has not been obtained. Honor loans are generally granted by financial institutions affiliated with individual universities or schools without the need for any further guarantees and with favorable financial conditions such as flexible installments and low interest rates.
Loans guaranteed by public bodies
Another type of loan without guarantee is that provided by public bodies, which normally fall within the sphere of micro-credit. These funds come from European or Italian ones and are made available to particular categories of subjects considered to be weaker. Among these categories are young people, women, unemployed or residents in economically depressed areas. Loans disbursed should typically be used to finance business projects. Also in this case the loans do not require particular guarantees and present a facilitated credit line, being partly or totally forfeited.
Another loan form widely used, and without guarantees, is that of the loan repurchased. This loan can be requested for a maximum value of 20,000 USD and does not require special features. Its duration varies from 6 to 60 months and requires a single signature without the presence of guarantors. The supply takes place in a few days from the moment it is approved.
The amount is paid by bank transfer or bank draft and is returned by paying bills of exchange at the bank on a monthly basis.
The bills of exchange are an enforceable title that establishes that even in the event of non-payment of a single installment, the bank is authorized to foreclose your assets for a value equal to the value of the single unpaid installment without the need for injunctions for payment of a conviction sentence.
Banks and credit institutions tend to willingly grant these types of loans, since in the event of non-payment the attachment of the creditor’s assets involves considerable expenditure of energy and time.
Loans have the characteristic of not being very convenient due to the high interest and the insurance policy that banks normally impose on the applicant.
Loans for self-employed workers
The self-employed are categories that do not have a pay slip and therefore the only way to obtain a loan is the presentation of the Single Model, even better if the previous three years. In this case, the bank after demonstrating that it has had regular income over the last few years could accept the loan request even in the absence of a pay slip. In this case, the final decision is left to the loan provider.
Small Loans without payroll
Banks and credit institutions grant small loans (usually never above $ 3,000) and can be paid out quickly. The disadvantage is the lack of appropriate guarantees to obtain very high interest rates.
The advice in these cases is to resort to these forms of loans only and exclusively if there are no alternatives, because they are really expensive.