To borrow money, there are several contact points that can help. In addition to the well-known offerings such as branch banks, direct banks or private companies, there are also unconventional methods such as private individuals, funding associations and churches. It is best to be aware in advance of how much money you want to lend, what are the demands made on the provider and what the repayment should look like. Accordingly, one can choose the right provider to borrow.
The well-known way: the bank
The classic is the house bank, which offers loans from a small amount. Even a few hundred euros can be used in a bank, with differentiated terms come to one. Just these should be kept in mind so that no debts or other problems arise. Basically, low interest rates, matching maturity, variable repayment and easy utilization are desired. Particularly bad creditworthiness, a private credit entry or unemployment can lead to the rejection of the application.
Are private individuals helpful?
If this is the case, you can turn to friends and relatives. Especially small amounts are not a problem in the circle of acquaintances and can be claimed with confidence and a good relationship. Since it can come to dispute over money, one should hold the individual conditions of the loan in a handwritten contract. Important points are the amount of the amount, the repayment period and special conditions. As a rule, interest does not belong to borrow money between friends or relatives. In addition to these individuals, there are private banks that make a bad impression. Especially in this area you should be careful because there are many black sheep.
The perfect solution?
Unusual methods for borrowing money are churches and sponsorship clubs that are currently found in larger cities. Through these facilities one can lend higher sums of money, which are connected with no or low interest. However, this option has a small downside. Frequently, the loans are associated with strict conditions, which make the quick money gain bitter. In churches, it is common that the loan of money is linked to regular church attendance. Also, the exact presentation of the use of money is not uncommon.