How to get unsecured loans easily

Know the current offer of the best loans without endorsement and get the extra financing you need without paperwork or explanations

What are loans without collateral?

Unsecured loans offered by https://citrusnorth.com/unsecured-loans/ are a way to obtain financing to carry out different large projects such as buying a car or renovating our house or facing small unforeseen expenses. These loans are characterized because it is not necessary to present any type of material guarantee or person that endorses us that we will face the payment of the loans. Which translates into a simpler and faster application process.

That we do not have to provide an endorsement or a guarantee does not mean that we are exempt from liability since these loans have a personal guarantee, which means that in case of non-payment we will respond with our present and future assets.

What types of credits without endorsement can we contract?

If we want to get a loan without an endorsement, we must take into account the different options that currently exist in the market. Each loan will have different characteristics, depending on the entity with which we are dealing, the amount of money requested and the repayment term was chosen. Currently, we have the opportunity to get these two different types of loans without endorsement:

  • Quick credits without endorsement: they are small loans, processed quickly by lenders that operate over the Internet. The amount we can get will depend on each lender, although they range between € 1,000 and up to € 4,000. They are characterized by the little paperwork they require and because we can request them completely online. These credits are perfect to deal with small incidentals that imbalance our economy
  • Personal loans without endorsement: the amount we can get with these loans is much higher compared to the quick loans since we have the possibility to access up to € 40,000. This type of loans are also usually managed by online entities and their cost is usually compared taking into account their interest TAE (being aware that other associated costs such as linked products can be added). These loans are suitable for financing large projects.

According to our profile and the purpose we want to give the requested money, we can go to one type or another of credits without endorsement, as we have seen each type has specific characteristics that will make them more or less adapted to our financial needs.

Requirements we must meet to get loans

To be able to access the loans without endorsement, we must meet certain requirements so that the entity considers that we are sufficiently solvent to repay the requested loan without problems and within the term. Although each entity has its own conditions that must be met according to its risk policy, the vast majority agree on the following requirements:

  • Be of legal age, although certain entities will not allow us to obtain loans without a guarantee if we are not at least 21 or 25 years old.
  • Being permanent residents in Spain, we will have to prove it by providing a photocopy of our DNI / NIE or passport.
  • Do not have outstanding debts, although certain lenders will even allow us to obtain loans without endorsement with ASNEF and to access them we must meet two additional conditions:
    • That the debt does not exceed € 1,000
    • That has no connection with a bank
  • Have a stable, demonstrable and sufficient income, since it will be the essential requirement to be able to obtain a credit without endorsement. The income from a payroll, an unemployment benefit, a pension, rental income, a scholarship or income that we can prove if we are self-employed will be valid. Provided they are monthly, justifiable and sufficient.

Fulfilling these requirements we will not have problems accessing the loans without endorsement that we request. It is important to keep in mind that the more capital we request, the more demanding the requirements will be since the income we receive will act as the “guarantee” of repayment of the loan.

How to increase our chances of obtaining financing?

If we believe that our application will not be approved or if we have already applied for loans without a guarantee and our application has been denied, there are small tricks that we can use to increase our chances of getting the funding we need. In the free guide prepared by the experts of HelpMyCash on “How to increase the chances of getting a loan”, here we will find the necessary information to know what our real possibilities of obtaining loans without collateral and how to increase them, what is the logic that follow the lenders to grant or not their financing products and which of them can be better adapted to our profile and our economic needs.