Getting loans without payroll is easier than you think. Take a look at the following list that lists the basic conditions so that we can study your loan application without payroll:
- We only study applications for loans without payroll for amounts over $ 6,000.
- At Private Loan we are specialists in granting loans without payroll so that you can access financing without restrictions. If you have a real estate that you can leave as collateral, you will have access to a loan without Private Loan payroll.
- The maximum amount that we can grant you is approximately 30% of the value of the property that you leave us as a guarantee. This property can be a premises, an apartment, a house, an apartment, a hotel, an industrial warehouse, etc. If a mortgage charge falls on this real estate we can grant you a loan to cancel it.
- We will appraise said property and you must send us a simple note from the Property Registry so that we can verify that you are the owner of the property.
- The interest on our non-payday loans ranges from 9% to 12%. The exact interest rate will be determined once your loan request has been studied and approved.
- In Private Loan we let you choose the installments of your loan without payroll. You can choose interest-only installments plus a final interest and principal payment, or installments that include interest and principal in a single payment.
- For your convenience, you can also choose the frequency of payments: monthly, quarterly or semi-annually.
- Private Loan is a company regulated by the Ministry of Industry and consumption. Therefore, your loan without payroll will be signed before a notary at the notary and the city of your choice.
Repayment of a loan without payroll
In Private Loan we adapt to the needs of each client, so you can choose how, when and in how long to repay your loan without payroll.
Choose the type of amortization of your loan without payroll
You can amortize (pay back) your loan without payroll using linear installments – also called French amortization – or through interest-only installments plus a final interest payment plus principal – also called American amortization.
French depreciation characteristics
This type of amortization of a loan without payroll is the most used in Spain, since it allows the client to plan personal finances and economy in the very long term. The installments of a non-payday loan with French amortization are always the same, the only difference -which we can check if we take a look at the amortization plan- is that the percentage of interest and principal varies in each installment. In other words, we start by paying back more interest than principal, and this proportion is reversed linearly as the final installment approaches.
Characteristics of American amortization
In contrast, a loan without payroll with American amortization is based on the linear payment of quotas constituted only by interest. The capital they have loaned us will be returned in full in the final installment. This type of repayment is very interesting for those clients who prefer to pay smaller installments throughout the life of the loan and who know that they will have all the money borrowed to return it in the last installment.
Choose the frequency of payments
In addition to the type of amortization in Private Loan you can also choose the frequency of payments. You can repay your loan without payroll through monthly, quarterly or semi-annual installments. In this way, the loan repayment can be adapted to your specific needs.
Choose the duration of the loan
You can repay your loan without payroll up to a maximum of 10 years. Choosing a longer repayment period, the installments will be more numerous but also smaller and vice versa.
Repayment of your loan without customized payroll
Playing with the three previous variables – type of repayment, frequency of payments and duration of the loan – you can design a repayment plan adapted exactly to what you are looking for and your purchasing power. In addition, we will also study your financial situation to advise and advise you on the most suitable type of repayment, terms and duration of the loan. We have a specialized team of credit lines that will be happy to help you.
Differences between loan and credit without payroll
Although many times they are spoken of as if they were the same, the terms of loan and credit are different from each other: we refer to different financial products. To put it simply in a loan, the lender gives the applicant a total amount of money at the beginning of the operation. The borrower agrees to return the total amount plus the interest agreed in the contract, which also includes the recurrence of payments, the type of amortization, etc. On the other hand, in a credit the lender does not deliver a total amount of money at the beginning of the operation, but rather makes said amount of money available to the borrower with a pre-established limit, which the borrower can use in the way that it sees fit.
In the case of MB Private payday loans, the formula used is the first: you will have a total amount of money so that you can meet your payments, contingencies, car letters, mortgage, etc. amount that you will be returning little by little through the installments, payments and type of amortization that you choose and that best suits your situation.
Personal loans without payroll
Private Equity Payday Loans MB offer access to financing to all those who do not have access to classic credit from banks and financial institutions. After the 2008 crisis, banks reduced credit and access to financing to practically any person and company, failing to serve a large part of the potential market for credit applicants in Spain.
It was at this time that private investors who had capital and were willing to finance projects and ideas that had been rejected by banks and traditional lenders came into play.
Payroll or Unemployed Credits
A payroll is one of the many guarantees that banks use to ensure the repayment of a loan. In addition to payroll, they can also use other variables such as delinquent records, a justification of income from the last 12 months, check if the client is currently paying back a loan or even force you to submit a work contract -which at best it should be undefined.
Payroll as a guarantee of payment
A bank uses the payroll as proof that this person has regular income that will allow them to meet the payment of their loan installments. However, it is impossible for all those who are not salaried – self-employed, housewives, unemployed, temporary or seasonal workers – to present proof of recurring income, that is, a payroll. In addition to demanding a payroll many times the bank also requests that the payroll be domiciled in an account owned by it. In this way, if there are delays in payments, the bank can freeze the movements of the account to avoid that there are no money outflows and that the payroll income is used primarily to continue returning the letters of the loan. This often turns into a vicious circle from which it is very difficult to get out: the bank has frozen my current account because I have debts> I cannot return the debts because I have a frozen current account.
Avoid hiring additional services
On some occasions there are financial institutions that to give you access to their lines of credit require you to contract complementary products that you surely do not need: insurance, credit cards, savings or investment accounts, which still further compromise your personal economy, adding more real cost to your financing line. In summary and as you can see the banks are not any NGO, but, like any other private company, they seek their maximum benefit. To avoid this type of situation, there are loans with Private Capital Payroll MB.
Simple and Fast payday loans
However, at Private Loan we bet on the simplicity and speed of the procedures, so if you leave us as a guarantee a real estate property we will study your loan application without obligation. It is not necessary that you have a payroll domiciled in a specific bank, nor is it necessary for you to present a proof of income or an employment contract. In a maximum period of 3 days you will have an answer to your loan request and you will have the quick money.
Payroll-free mortgage loans
Currently, mortgage loans without payroll have become a very interesting option for all those people and companies that have a property that they can use as collateral and have also been rejected their requests for financing in banks and traditional credit institutions.
Why use a loan without payroll?
Payroll-free loans are suitable for starting personal or family projects and for those companies and people who have had their credit applications rejected when they go to traditional entities. The profile of clients that request a loan without payroll in Private Loan is very varied but normally most of our clients request a loan without payroll for any of the following reasons:
- To help a family member start a project
- To deal with unforeseen expense
- To pay a tax
- To face the payment of doctors or health services
- To settle a debt for which you have been included in Financial Credit Institution or Rai
- To attend urgent payments in your company as suppliers or payroll
If you find yourself in a situation similar or similar to the previous ones and you don’t know where to go to get credit, contact Private Loan now so that we can evaluate your application for a loan without payroll now. You can also evaluate and simulate your request yourself.
Where to request a credit without payroll
At Private Loan we have a contact form from which you can request a loan without payroll by simply filling in the following information:
- Telephone contact
- Amount requested (this being a minimum of $ 6000)
- Province of residence
- Real estate property that you are going to use as collateral
With the following information we will assess your loan application in a few hours and we will contact you to inform you about the financing options available to you. You can be sure that we will find that private investor willing to lend you a hand AND give you access to the financing you need
Costs of a loan without payroll
The direct costs associated with opening a line of credit or loan without payroll are various and can be divided into several categories. On the one hand we have all those costs associated with the study of the application and on the other hand the costs associated with the opening of the line of credit – notary fees, property appraisal and so on. There are also the costs related to our services as an intermediary between the lender and the credit applicant. All this is included within the loan repayment itself so that you do not have to worry about paying attention to many figures at once.
Quick Payroll-Free Loans
Non-Payroll Private Equity MB loan applications are resolved in less than a week. At Private Loan we know that time is money, both for you and for us, for that reason we do not delay more than five business days since you contact us, to give you an answer to your loan request. 90% of non-payday loan applications are resolved in less than 3 days. The remaining 10% are slightly more complex requests, whether due to quantity, type of property or special conditions of the applicant that require a little more time on our part.
Payroll-free loans faster than in a bank
If you go to a bank to ask for a loan, it will be very difficult for you to have an answer in the short term. Surely they will ask you to present enough documentation -proof of income, guarantees, properties in your name- for the study of your application and that can take weeks until they have your solvency profile. Sometimes we don’t have that much time.
Not having payroll is not a problem
If you do not have a payroll, your bank loan application will probably be denied. Even if you have income, if it comes from an unemployment benefit, it may not be enough for the bank to authorize a line of credit in your favor. In Private Loan we can study your loan application without the need to present us with a payroll or any type of income as a guarantee: a real estate in your name is enough to guarantee you so you can access the financing you need.
The best alternative to traditional financing
Private Loan has been specialized in the study and granting of non-payday loans since 2013. All the loans that we have granted have been repaid in the period and term stipulated in the contract, that is, we have never had to liquidate the guarantee of any client. We achieve this because we adapt to the needs of each person in relation to their credit needs, financial capacity and payment.
The best offer of payday loans on the market
The offer of loans without payroll that you can find online is very wide. However, many of these companies offer abusive conditions, with excessive interest rates and fixed and homogeneous repayment and repayment plans for everyone. This lack of flexibility for repayment of non-payday loans makes it difficult for many people to repay principal.
To avoid this type of situation in Private Loan we adapt to each profile and person in a concrete way taking into account all possible financial aspects to create a repayment plan 100% adapted to each client. In this way we ensure the return of capital, the client does not see his financial capacity or personal economy compromised due to the fact that he has to repay a loan and we successfully close an operation for us, the client and the provider.