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Financing is the source of the financial resources needed to make an investment. In common usage, the term financing is often equated with loan financing. In fact, a financing but also from their own resources such. B. a saved credit. In this context, two main forms of financing can already be distinguished: equity financing and debt financing. The focus will be on the latter in the following.
Who gets a loan financing?
In principle, all categories of persons are eligible for loan financing: employees, students, apprentices, self-employed and freelancers. Whether a loan is granted or not depends on the creditworthiness of the respective applicant. This refers to the ability to repay a loan in accordance with contractual requirements. Difficulties always arise when the creditworthiness is not available or is classified as not good enough. If, for example, the claimant has debts from a previous financing or has a low income, this may result in a negative decision from the bank. In short: There is no financing.
Fortunately, Good Lender makes things a bit easier. Since only short-term loans are awarded for comparatively small sums, the bank’s risk is kept within narrow limits – for the benefit of the borrower, who also receives financing with a medium credit rating.
Benefits of financing through Good Lender
Since 2012, Good Lender grants small loans to private individuals. He was the first provider to establish such financing opportunities in Germany and can now look back on around 330,000 customers. The automated loan settlement process and the innovative credit check enable individuals to finance themselves with a short-term loan and a term of up to 30 days. Wish amounts between 100 and 3,000 euros are available.
1. Free financial calculator
The free credit calculator for financing makes it easy for customers: First, the desired amount is selected by means of a slider. Just below it can be selected in the same way, the desired financing duration between 7 and 30 days.
3. Fast financing
If necessary, we’ll credit the amount of funding to your account in just 30 minutes. Simply select the express option during the application process!
2. Bank-neutral inquiries
If you want to find out about future financing, an inquiry will be Bank-neutral in contrast to other banks. The financing request thus does not negatively impact your base credit score.
4. No long bond
Our short-term loans are repaid quickly – usually after just one month. With our financing, you will not be tied for long and keep track of your financial position.
Our advantages at a glance:
- Fast financing payment
- Especially favorable conditions
- Bank-neutral financing requests
- Credit also for consumers with a rather medium credit rating
- Transparency through free financial calculator
Which types of financing are available?
Financing can be distinguished primarily according to source and duration. Loans are a form of debt financing. Here, the money does not come from their own savings, but usually from a bank.
Financing via the house bank
Many apply for their loans from their own bank. Many important data are already stored here and the relationship of trust can have a positive influence on lending, but this is not guaranteed. Because the bank knows the income and knows about any irregularities. This includes, for example, the overdrawing of a credit line.
But traders also lend or offer payment terms (usually 30 days), thereby boosting sales. Again and again there are actions in which so-called zero-percent financing is offered. Such offers should be conscientiously compared to other financing offers, even if they are tempting.
Nowadays, many loans are made online through the websites of banks and credit institutions. Good Lender has offered short-term loans since 2012 and has established this form of financing for the first time in Germany. The low sums and maturities for financing minimize interest rates and potential risks for lenders and borrowers. Incidentally, this is also the reason why people with a medium credit rating get loan financing.
How to finance a loan – The process at Good Lender
In three steps to your financing
1. Select loan amount In the first step, you select the required financing amount and the period. Our easy-to-use loan calculator is available for this, with which you can adjust the amount and duration using the slider.
The term can be between 7 and 30 days, the loan amount up to 3,000 euros. 2. Make a loan application Enter your personal data in the online form. Following the binding information, your personal credit line will be determined.
At this point you also have the opportunity to opt for our extras such as the express option. 3. For safety: verification To verify your identity, we offer the Postident or Videoident method. For the videoident method you need a webcam, which identifies you with an identity card. With the Postident procedure, the route leads you to the nearest post office to verify yourself with an identity document
Requirements for financing at Good Lender
In terms of collateral security, certain conditions must be met for quick and easy financing. You must meet the following conditions:
- Main residence in Germany
- German bank account
- Age of the applicant
- Regular income, which is 500 euros or more per month
- plus required documents: identity card / passport and salary statement
Popular uses for financing
Short to medium term financing, which can come from both the merchant and a bank. For larger purchases (eg new kitchen) it can also be a long-term financing.
Real estate financing
Long-term financing of condominiums, land or houses. Due to their size, such loans require careful planning and, in addition to a good credit rating, additional hedges in the form of residual debt insurance.
Short-term financing, which can be settled via dealer or a normal installment loan. In dealer financing, the purpose is limited to the purchase of the mobile phone.
Medium to long-term financing, which can be granted by both the dealer and normal banks. In car finance, the vehicle serves as collateral and passes into the ownership of the borrower only after the loan has been fully repaid.
Usually, conventional installment credits of short to medium term are used to move – depending on the size and duration of the move.
Mostly this is a credit relationship payment term, which is given by the dealer in the form of special promotions (eg so-called zero-percent financing) and is tied to the purchase of a particular product.
Financing with immediate payment
Surely everyone has already experienced a similar situation: The car suddenly does not start, has to go into the workshop and does not cost. At the end of the month, there is often no money left for such a financial position.
In such situations, you can count on Good Lender as a helper in distress, because we not only offer our loan financing cheap, but if necessary, even ensure that the amount quickly finds in your account. You will receive the money for your financing after just 60 minutes.
Dealer financing or bank?
Traders often offer special promotions where they promise cheap or supposedly free financing. But it is common for interest rates to re-emerge elsewhere – price. Here it is advisable to compare the same product at several dealers and, where appropriate, to avoid funding by installment credit.
At Good Lender, in addition to our normal short-term loans, we also offer financing at two, three or six installments. If necessary, the amount is still on the same day in your account.