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Loans without demonstrable income and without guarantees

Loans without demonstrable income and without guarantees 2018

Loans without demonstrable income and without guarantees 2018

Is it possible to obtain loans without income and guarantees? A question that undoubtedly affects those who need financing and cannot count on demonstrable income or alternative guarantees.

This is undoubtedly a difficult task, but not impossible. In fact, usually when a request for loans without income and guarantees is presented, the lender requires the presentation of guarantees that are adequate for the repayment of the loan.

The most accepted are pensions and payslips, even if the VAT holders can easily obtain financing, provided they demonstrate the presence of constant revenues during the two years preceding the submission of the application. In the absence of these requirements, the situation becomes more complex since it is almost impossible to obtain financing without being in possession of adequate guarantees.

Alternative guarantees

Alternative guarantees

In the event that the applicant cannot rely on a demonstrable income sufficient to guarantee the regular repayment of the amortization installments, it is necessary to be in possession of alternative guarantees. In most cases, real guarantees are used, such as the lighting of a mortgage on the home.

Alternatively, it is possible to resort to the signature of a guarantor. Person who undertakes to repay the amortization installments in case of insolvency by the beneficiary.

However, the guarantee of the guarantor is usually accepted only if the applicant has a demonstrable income. Otherwise it will be very difficult to obtain the funding, unless the person who presents himself as guarantor is directly applying for it.

In this regard, we remind you that not everyone can act as guarantor for a loan. To fulfill this role, it is necessary to possess demonstrable fixed income deriving from work or from a pension.

The guarantor must also be able to count on a positive credit profile. In other words, the guarantor must not be reported as a bad payer in the SIC databases.

Non-repayable loans

Non-repayable loans

For those who cannot count on any of the guarantees mentioned above, it is still possible to obtain non-repayable loans. Loans without income and guarantees which are intended to encourage the creation of businesses and activities and do not require the presentation of guarantees.

Usually granted by community or state bodies, non-repayable loans allow to obtain relatively high sums to be used to support the start-up costs of the activity.