Through the following article we will tell you about How to request a personal or business loan from the bank without a guarantor and what are the requirements. Responding if there is the possibility of requesting a loan without a guarantor.
Request a personal or business loan What are the requirements?
Those discussed below are some of the most common requirements for ask for personal loans or for your business. Clearly this varies from bank to bank, for example, applying for personal loans in Coppel is something different, but the following gives us a good general basis.
- Have a bank account at the institution: Clearly, the only way to request a personal loan from a bank is to belong to it. This being a primary requirement.
- Identity documents and others: The first thing that is taken into account, for any operation, is the correct identification of the applicant. Given this, the national identification document is required, in turn of others as proof of address.
- Be of age: Regardless of the place or the bank, a universal primary requirement is that the applicant for a personal loan be of legal age. This varies depending on the nation, but the age of majority usually refers to individuals over the age of 18.
- Income verification: Banks seek to protect themselves from people who cannot pay their debts, for this reason an income verification is often required. A proof of income is as its name says, a document that indicates that the person receives a salary or compensation for their work. Certainly, it is one of those essential elements to request a loan.
- Adequate credit history: Another thing that can be taken into account is the credit history, clearly a person who has or has had constant debt is not a good prospect to pay a loan. Given this, banks often require credit history, although sometimes they do the checks themselves.
- Personal and credit references: References are another way to ensure that the person requesting the loan is trustworthy. For this reason, one or more personal references are usually requested, in addition to credit / bank references.
- Bank guarantee / guarantor: In most circumstances the bank will require a person to be responsible in the event that the loan applicant cannot pay the debt. This person is usually called a guarantor or guarantor, but must meet some criteria to be a guarantor of a bank loan.
- Contact information: In addition to all of the above, the bank will require you to provide reliable contact information, such as a mobile phone or email.
There are clearly other things to consider about the requirements to apply for a personal bank loan. Either way, the ones shown above represent the basics.
Request a personal loan without a guarantor / guarantor Is it possible?
As you may have noticed, most of the times among the general requirements exhibited by banks is the guarantor / guarantor. The truth is that this is usually an essential requirement that is taken for granted when making an application. Either way, the question arises as to whether you can request a loan without endorsement.
As we pointed out, in most circumstances it will be completely necessary endorsement or guarantor to apply for a loan, even more so if the loan is large. In fact, banks even take into account what happens if the owner of a loan dies, most of the time being in the hands of the guarantor. In any case, some banks offer alternatives.
In fact, some banks may provide bank loans without the need for an endorsement. Even so, keep in mind that very few banks have this type of loan.
The only way to know is to verify the information directly with the bank. Mostly these loans are described as “Loan without endorsement”. All you have to do is ask a bank worker about these types of loans.
In any case, keep in mind that loans without collateral, in addition to being rare, usually they talk about smaller numbers. In other words, you can rarely request large amounts of money with a loan without collateral.