Securing the loan is the top priority when lending. A loan request from which it is foreseeable that the loan will not be serviced will not be approved at all. The credit terms are firm and state that the loan seeker must be of legal age and must have an income that comes from employment.
The employment contract should be permanent and the applicant should be outside a trial period. Securing a loan with proof of salary is the easiest way to lend. But there are professional groups that cannot provide proof of salary. However, there are other options open to this clientele.
Proof of creditworthiness
For example, the self-employed are excluded from normal lending because they cannot prove regular income. If the self-employed can present positive balance sheets that prove his income, this professional group can also count on a loan without proof of salary. In addition to the balance sheets, other collateral must also be provided. The naming of a guarantor or other collateral such as real estate or life insurance increases the chances.
Students who work alongside their studies have the same problem. If they need this money, a loan without proof of salary would also have to be applied for here. But the regulations of the German banks state that there is no loan for anyone who cannot prove a regular income. It would be different if a student could also provide other collateral or a surety.
The creditworthiness has priority
The criterion for lending is proof of a regular income. It must be ensured that the loan seeker has sufficient financial resources or collateral to positively influence a loan without proof of salary. Even loans that come from abroad are restricted in their credit approval, since the income cannot be proven.
Alternative options for a loan without proof of salary would be to ask friends or acquaintances. However, this lending business should not only insist on mutual trust, but it should be recorded in writing.
Sometimes inquiring at your own house bank can lead to success, especially when an independent job description is indicated. The house bank knows the financial transactions of its customer and can therefore grant a loan.
A new financial market has opened up where loans are granted from private to private. Loan seekers can create a meaningful profile on appropriate portals and express their credit request. Investors who want to invest privately will look at this profile and then, if necessary, make a positive decision about a loan.