For some years now, a certain form of credit has become increasingly popular with consumers in Germany. It is a loan that makes consumers more independent of credit institutions. P2P credit is probably better known to most consumers under the term personal credit.
P2P is the abbreviation for peer to peer and means private to private, which exactly describes the type of lending. A P2P loan is granted by a private individual to another private individual. The credit model has some special features that distinguish it from a classic bank loan.
In Germany, the type of lending is becoming increasingly popular and more and more consumers are getting information about a P2P loan. You can find a lot of information about the special loan on our website. We act as a credit broker for a P2P loan and bring borrowers and lenders together.
The P2P loan as an alternative to bank loans!
The P2P loan is a good alternative, especially in times of the banking crisis, for all those who no longer trust a bank. Even people with a low income and self-employed have a good chance of borrowing. Experience shows that these groups of people find it rather difficult to obtain a loan from banks. The P2P loan also offers many advantages for you.
It has been possible in Germany for a few years to obtain a loan from private individuals. Lending can be done by just one private individual or by several at the same time. Especially if a larger loan amount is to be realized or the borrower does not have a good credit rating, it is better for lenders to only give part of the loan amount.
Attractive advantages for private investors
A P2P loan for investors is lucrative. They can invest their money more profitably with a loan than with almost all other classic investment options. A higher interest rate is possible with a private loan than with a savings book or a call money account. For this reason, more and more private lenders are favoring P2P credit. With this, investors can not only invest their money wisely and achieve attractive returns, but also help other consumers at the same time.
Let private investors realize your loan request.
As a loan prospect, you can submit your personal loan request online. The most important information should not be missing when requesting a loan. Of course, this includes the amount of the desired loan amount and the planned term.
With a P2P loan, borrowers have the advantage that they can receive relatively low interest rates. However, only if there is a good credit rating.
With a P2P loan, private lenders naturally want to make sure that the borrower can also repay the loan. It is therefore imperative that borrowers make their credit rating public. However, this is always done anonymously. The monthly income must be disclosed, as must the expenses. In addition, Credit bureau information increases the chance of a loan.
Unemployed, pensioners, self-employed
Since special groups of people such as pensioners, the self-employed or the unemployed often have difficulty taking out a conventional installment loan from their bank, these people see a P2P loan as a good way to get a loan.
But it is not that simple: As already described, creditworthiness and income must also be proven for a loan from a private hand.
In pensioners, banks see a risk in terms of repayment of the loan due to their age. However, the realization of a P2P loan is possible in most cases for pensioners. In addition to the loan amount, the term is also decisive for lending. Real estate like your own property or similar can serve as additional security for the loan.
It looks a lot more difficult with unemployed people. Because these people do not have the necessary income because there are only benefits in the form of unemployment benefits. In most cases, a loan can therefore only be realized with the addition of a guarantor as a co-applicant. Alternatively, taking out a special loan for the unemployed is a good idea.
Since the self-employed also do not have a regular income, proof of the current BWA is usually required to borrow a P2P loan. If, for example, the loan is used for the purchase of goods, these can serve as security for the lender.