Loans for unemployed without guarantees

The banks, in order to decide to provide a loan, want guarantees starting from the income of the applicant, which is also the most easily attacked in the event of insolvency. So the road to apply for a loan from an unemployed person is decidedly inaccessible, but not entirely impossible even if we need to make some distinctions regarding the guarantees.

Starting from the assumption that a guarantee must protect the bank, the unemployed who do not want or cannot use a guarantor, can still follow a path that, referring to a “real” type of guarantee, which is therefore highly solid, can successfully complete the loan application process. This is the loan with bills of exchange as a guarantee. More recently, the path to social lending has opened up, following very specific procedures.

The pros and cons of the loan settled

This type of loan can be requested both from a bank and from a private individual, and in both cases the main features are: the granting of a specific sum behind the issue of a number of bills (pre-filled with sum to be returned and due date ) equal to the number of installments with which the repayment of the loaned capital is divided, including an interest share and a principal amount.

As far as interests are concerned, these can be freely negotiated, but as long as they remain below the wear rate threshold. Within the deadlines, the person who has obtained the loan must pay the bill of exchange, after which he asks for it to be written off, and proceeds until maturity or until the capital is fully repaid.

Given the formula used, in the event that you want to proceed with the early repayment, the lender has the right to demand payment of the sum of bills of exchange that have not yet expired, or grant the benefit of discounting a part of the interest not yet accrued. This is a possible solution that, however, discounts interest rates generally well above the threshold of the rates applied for personal loans.

Social lending or private lending

The loan between private individuals is taking place also thanks to the very simple access: who wants to get a loan proposes a project, and after the brokerage company has established a rating on the basis of which the interest rate is fixed, it is up to the private lenders decide whether to support that project and for what percentage.

It is therefore a formula that can allow even the unemployed who want to obtain a capital to undertake an activity, to obtain the sum they need. To access the loan between individuals, simply contact the online sites that operate with regular authorization from the Bankaly (by going to its website you can consult the licensed companies).