In the best of all possible worlds, being able to do without a bank for an urgent need of money would be ideal: less administrative burden, and the impression of not endorsing the system. payday loans between individuals exist, and SWU credits become an alternative to find money quickly without additional costs. But going to a private lender still involves certain rules.
SWU credit: explanation of a new concept
Whoever looks for a loan between individuals will have to look for a payday loan between serious individuals.
A credit between individuals in France can turn into a quick payday loan and no application fee, remains to find the right platform for linking. Indeed, the solution for a cheap credit is to look for the SWU credit.
Why lend money to individuals?
Crisis requires, finance is upset: banks are cautious, and borrowers are no longer necessarily trust in a system where they no longer find their values.
Reminder: the SWU loan comes from the United States, the first country affected by the subprime problem. The concept is seductive: we can borrow a small amount of money (often below or equivalent to about 10,000 euros), and everyone finds his account.
The lender to the impression to control his money, since it will decide the project to allocate it, and the borrower will be able to count on another source of financing, for punctual or urgent needs.
The benefits of a credit that does not go through a bank
If the loans SWU return to the origin, with the loans of family or those of the neighbors (ancestors of the tontine), it adds to it advantages which will have to take into account at the time of putting on the balance his bank and a platform of individuals:
- Reduced costs: the SWU structures are less important than the big conventional banks, in terms of management fees, and necessarily, this is reflected in the fees.
- A lower loan rate: the development of networks on the Internet has further lightened the structural costs. It is not uncommon for individuals to find lower borrowing rates than those of major banks.
- A good investment for an individual: a rate of return of 3% gross, difficult to do better, yet this is what an individual is entitled to expect when investing in this type of investment. It’s less risky than the stock market, and it feels like you’re getting a little more control over the return on your savings.
Look for a special credit in emergency
The reasons for an urgent need of money are numerous, one could list whole pages, with the savings of the French which decreases.
There are countless French people looking for an emergency loan for people with big financial problems, or those seeking emergency money directly into their bank account. A SWU credit can replace a bank loan.
What can we need for a SWU loan?
- Buying a car to work away from home: the purchase of a vehicle is most often the answer to a need for quick money, because the old car has broken down, or it is absolutely necessary to be motorized to go to work. It is possible to meet the refusal of his banker, who does not always understand the urgency of the situation. It is especially in these situations that the commercial gesture (a small discount on the rate) is desired, since the adviser to all cards in hand.
- Pay your rent: but also pay your bills for water, gas and electricity (urgent need for money to pay your rent or pay off your debts)
- Bringing the capital of your business: starting your own business and creating your own job, for example in a self-business, is good, but you still need money to do it. Banks are reluctant to lend at the start of an activity, and credit refusals are legion for young entrepreneurs who do not have sufficient guarantees to provide their bank.
- Avoid over-indebtedness: how to make a loan quickly and easily when you are unemployed? And why not go through a SWU collaborative credit, in order to buy back its credits and thus lighten its monthly payments.
Banks can refuse to lend money, especially when the customer does not have all the guarantees of solvency. Some personal situations are considered disabling by his banker, who sees a risk of not being reimbursed. Who do you turn to when you are in this situation?
Disabling situations to borrow from banks
Borrowing money without going through a bank can help put an end to its financial problems, provided it rebalances its budget and controls its expenses.
But borrowing without the banks does not mean low interest rates, or laxity in mounting the file. Do not confuse SWU loans with financial aid.
Finding an individual who lends money to other individuals on the Internet at no cost when one is marginalized, for whatever reason, remains difficult.
Forbidden bank BDF, BBER
Can one be lent money by an individual when one is BB?
A payday loan between individuals for BBER is rare, unless going through family or friends. Indeed, a serious loan organization SWU will verify the solvency of the client, but also its registration on the prohibited files edited by the BDF. Same for anyone looking for a fast internet loan for banned banking.
RSA, unemployment, and no income
Where to find a large amount of money quickly? Being in RSA or unemployed remains a brake on credit, unless you have sufficient financial guarantees to reassure the lender.
An individual, in the same way that an owner can do when renting his property, will ask for the salary slips, and the more they will be important, the more likely he will be to lend money.
However, some private lenders are motivated by other motivations than that of profit, and may want to help others. Same thing for disability or disability situations.
Over-indebtedness and payday loan
There, we touch on a subject equivalent to that of the BBER. The over-indebtedness does not push an individual to the loan, one must not confuse borrowing and social assistance. The idea is to get out of over-indebtedness, and that will not happen by taking out new loans.
Business creation without contribution
Creating a business without having to raise capital is a brake on entrepreneurship, not to mention business creators who are banned from credit. However, you have to find some money to start. The best, in this case, remains the deposit of parents to be able to guarantee the loan.
The sites of loans between individuals
Sites that gather individuals who lend money still have a fairly young life. But beware, non-creditworthy people will encounter the same difficulties as when looking for credit in a bank. Refund capabilities are verified prior to any file acceptance.
We selected the most important sites so that we could make a quick comparison of the conditions, the sums that can be borrowed, as well as the necessary fees and supporting documents before committing.
Creditstair Credit: Special Loan Specialist
Creditstair Credit is approved by the prudential supervisory authority.
How much to borrow?
It is possible to apply for a loan from 3000 euros.
At what rate?
The APR Loan varies from 3.60% to 13.69% for loans from 1000 to 40000 euros, over a repayment period of 24 to 72 months.
The advantages of the former Union loan:
- Ability to postpone the first monthly repayment.
- Quick answer.
- Earnings for the lender.
- Transactions are secure.
CriendsZone: to frame loans with friends
Unfortunately, CriendsZone is over. To keep track of this very good site crowdfunding, we would like to inform on what he proposed:
Easy access to the various projects deposited on the platform by the credit applicants. It was thus possible to directly finance the one in which one wished to invest.
How much could one borrow?
It was possible to finance his project for a sum of between 3,000 euros and 25,000 euros.
At what rate?
The TEG was set at 11.36% for a loan over 3 years up to 25000 euros maximum.
The old benefits of CriendsZone:
- An investor fee of up to 4.50% net.
- Everyone could submit their project on the CriendsZone website.
- You could see the number of people who had joined the request.
- Possibility of recovering its capital at any time.
Spear: secured loans
A site of loans between individuals rather focused on solidarity financing, and investments in projects that highlight the human.
How much to borrow?
There are really no fixed limits, as long as there are Internet users who want to join the project and invest. It is not uncommon to see requests of up to 100,000 euros and more.
At what rate?
The borrowing rate is not specified on Spear’s website.
The benefits of Spear
- Attention, no guarantees on loans granted, except those of partner banks.
- Associations can also apply for special loans.
- Ethical financing.
- An annual yield of the shares fixed each year in general meeting.
- Possible tax deductions: 18% on the IR and 50% on the ISF.
- Partnerships with major banks such as Société Générale.
- Ability to reduce its wealth taxes an investment in a project financed through the platform of loans between individuals.
Debt recognition: how does it work?
The recognition of debts between individuals is subject to strict rules, and is framed by law. If it is possible to lend money to a loved one, for example, it is not allowed to do it anyhow.
The rules that apply to the loan agreement
- The rate of remuneration is set freely between the two parties (respecting the legal limits of the rate of wear in effect at the time of the agreement).
- It is obligatory to draft a loan, when the amount exceeds the sum of 760 euros, especially with respect to the tax administration.
- The loan contract must be declared to taxes.
- The same applies to interest earned, they must appear on the tax return.
- The drafting of the loan is free, no need to go through a lawyer (be careful to write all mentions handwritten for the act is valid).
Here, a free model of debt recognition between particular.
Read also for future entrepreneurs:
- CADI’s help online
- Credit without proof?
- To try: SEF credits
The risks of credit between individuals
Small warning about possible scams: like any good system, there are abuses. The first thing to do, to avoid falling into the panel, is to verify that the website is approved by the Bank of France. Even better: the partnership with a bank, which reassures in case of difficulties.
It is necessary to address a specialized site, and not to answer to the advertisements of individuals who improvise directly banker, especially when the TAEG approaches 20%, as one could see it on certain advertisements! Becoming a private lender can not be improvised.
Our tips for finding a serious money lender on the internet:
- Avoid, as far as possible, pawnbrokers. The rate of wear is important, and the approach is not very ethical.
- Only apply to certified organizations (a good start, the sites mentioned above).
- Be wary of people who lend money to individuals online at zero rates.
- Be vigilant on a loan between private individual at very low rates.
- Do not believe individuals who offer fast money loans without proof of resources.
- Check well when it comes to borrow easily on the Internet without paying fees.
- Pay attention to the sites of announcements of private money lenders in France, Belgium and Switzerland.
- Stay on guard with organizations that put people in contact to lend or borrow money for free (no fees).
- Know that credit organizations on the Internet that lend to individuals without receipts do not exist.