The bank did not give you a loan or credit? Banks are not the only way to get a financial injection. We invite you to check alternative methods for money for any purpose, when we can not or do not want to take a loan or a loan.

To be able to get a loan or a loan from a bank, we have to meet a number of special requirements. Banks most often offer money to people working on a contract of employment or having other regular income. We should also not have negative credit history recorded in various databases. Therefore, not all of us can get a loan or a bank loan.

When the bank refuses to give us money or we do not want to apply for a loan or credit in this institution, we have several other proposals ahead of us. What are the alternatives to loans and bank loans?

Non-bank loans

Non-bank loans

Currently, non-bank loans are very popular because they allow you to get money quickly and conveniently – also completely online. So we do not have to leave the house to repair our home budget when we need an additional sum for various expenses.

We can choose loans in the form of payday loans – offered for small amounts and for short terms, as well as installment loans, which are already granted for higher amounts with installment repayment in a few months or years.

Social loans

Social lending is one of the novelties – in this case, we do not borrow money from institutions, but from other people who are then called investors. Loans of this kind have become popular thanks to the Internet – thanks to this we can also get them very conveniently.

We apply for a social loan by creating a special loan auction – we indicate the amount in it, the repayment date, we offer interest rates. When our auction will arouse interest among investors, we will get a loan from them.

Loans secured

Loans of this kind are offered for various sums – when we need a large amount, we can pledge real estate, while smaller ones – movable property, for example car, jewelry, watch, home equipment.

Secured loans are offered by loan companies and by pawnshops. We must remember that in the event of default, we risk losing the subject of the pledge.

Private loans

These are loans granted by private individuals – we can receive them from family or friends, but also from people we did not know before. Offers can be found most often on advertising portals or online forums on borrowing.

Most often, loans of this kind are quite expensive, so it is better to avoid them. There are also cases where these loans are granted “pledged”, but in fact the contract contains information that the subject of the pledge is sold, for example, a house or flat. So it is better to be careful when we want to take such a loan.

In summary, when we need extra money, the bank is not the only way to get it!

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