In common usage, the terms loan and credit are used equally. The difference between the two terms is above all the amount of the lent sum and the duration of the repayment. A loan is a sub-form of credit and involves longer terms and higher sums.
Who grants loans?
Above all, banks lend out loans. These determine the interest rates for the loans and loans and allow the creditworthiness of the applicant to be included in the interest calculation. However, bank lending often takes a long time, so short-term solutions are hardly possible for the consumer.
Private individuals can also grant loans. Trust in the debtor plays an important role here. If the lenders come from the nearer family environment, it is often difficult and takes a lot of effort to obtain a loan.
The real alternative for quick cash requirements is an online loan through Small Lender . Here, the customer often receives the loan after 60 minutes and does not have to commit himself long. Because after 30 days you can pay off the loan again. Thus, a short-term financial needs can be covered quickly and unbureaucratically.
Choosing Small Lender for a loan offers many benefits. These can not be offered by banks or individuals to this extent.
1. Free loan calculator
With the free loan calculator, customers at Small Lender can see immediately and in detail what costs are to be expected at the desired level. Since Small Lender does not pay any processing or commission fees, all costs are transparent.
2. Loan requests for loans are Bank neutral
The loan requests at Small Lender are Bank neutral. This means that these requests do not let the Bank score slip into the basement, as is often the case with normal loan requests.
3. immediate payment
Small sums for repairs or medical treatments are usually needed quickly. At Small Lender you will get the loan transferred to your account within 30 minutes. Thanks to the immediate payment for the online loan, long waiting times are a thing of the past.
4. No long bond due to fast repayment
Nobody likes to be in debt. At Small Lender, you are not tied up for long, but thanks to short maturities, you can pay off your debts quickly. This way, financial bottlenecks can be bridged in the short term.
Advantages of a loan through Small Lender
- No effect on your Bank score
- Fast credit decision after a short processing time
- Short maturities and high flexibility
- No processing fees or commissions
Which loan suits me?
Imagine: After buying a car, most of your financial reserves are exhausted. Now the washing machine breaks down and has to be replaced. It is too expensive to use the bank account balance of the account. Here is the Small Lender loan for you the fastest solution.
The month is coming to an end and your financial resources are as well. If a repair or just a medical bill is added, it will be financially difficult. With Small Lender’s fast and affordable loan, you can act fast and regain your financial freedom. You can easily pay off the loan after the next salary payment.
Definitions around the loan:
Loan amount: The amount that is available to the borrower for a loan.
Loan Account : An account opened with the Loan Agreement that is used to pay out the loan amount and repay the loan.
Loan Performance: Examining and granting the desired loan, disbursing it and overseeing the repayment of the loan.
Interest on loans: Interest which is due for the guarantee of the loan amount. These influence the amount of the loan amount to be repaid.
Loan: conclusion of a loan agreement between the lender and the borrower.
Which loan types are there?
The types of a loan are differentiated by loan amount and loan term.
Loans as short-term loans
If the loan is repaid within twelve months, it is called a short term. These loans are also referred to as short-term loans.
Loan as a long-term loan
Long maturities are common, especially with higher loan amounts. Long-term loans can be extended over ten years or longer.
After loan amount
Mini and small loans
Mini / micro credits usually include sums of up to € 1,000 and must be reimbursable quickly. The credit risk with these loans is extremely low.
Large loans, for example, are real estate financing and may include six-figure amounts. Here collateral is necessary.
Free calculator for your loan
If you want to know the possibilities of a loan and calculate the potential interest, you do not have to go to the next bank. With the Small Lender Loan Calculator you can easily define the amount of the loan and the term and see immediately what interest you have to pay for your loan.
What are the interest rates for a loan?
Let’s say you need a loan of 500 euros for a new washing machine. If you repay this loan for 30 days, you only pay a loan of 505.80 euros. With an effective annual interest rate of 13.90%, you therefore pay 5.80 euros interest for 30 days. If you repay the loan after 15 days, the debit interest for your loan is only 2.90 euros.
Apply for Loan: How Does a Loan Application Work?
To get an Small Lender loan without Bank, you just have to do three simple steps.
Step 1: Select loan amount In the Loan Calculator, choose the loan amount you need and the duration. You can immediately see what interest you have to pay. Step 2: Make a loan application Now fill out the following loan application and upload the required documents. Within a few minutes, your loan application is ready. Step 3: Verify With Small Lender you avoid effectively annoying paperwork. You can have yourself verified by videoident method on your computer or mobile phone. Already your loan application can be processed.
Similar to a bank loan, Small Lender also has some requirements for a loan application, although it is not as stringent as other credit institutions.
You must be of legal age and have your residence in Germany . Also required are a German account and a regular income of at least 500 euros per month . A good credit rating is also important, even if our loan is also available for people with a medium Bank score.
In the course of the application, you have to upload various documents in order to receive your desired loan. These include the signed customer master agreement, the signed service contract with Small Lender AG, a scan of identity card or passport with confirmation of registration and a current proof of income.
You need this for the loan application:
- Identity card or passport with confirmation of registration
- proof of income
- bank account
- service contract
- Customer base contract
What do I have to consider when making a loan?
If you decide to buy a cheap loan, you should first of all be thoroughly informed and compare different conditions with banks and other providers. The easiest way to make such a comparison directly online. Both the credit conditions and your credit rating play an important role.
An important point is the cost of the loan. Many banks and semi-mature credit intermediaries charge high fees and initial costs, which are hardly obvious to the layman at first glance. At Small Lender there are no such additional costs. Here you only pay the interest on your desired loan amount. All paid services at Small Lender are clearly identifiable and must be actively requested by you. There are no hidden fees for your individual loan.
Many loans are tied to fixed uses, which are requested prior to lending. At Small Lender, you do not need to specify a purpose but can freely use the loan amount. The online loan should be used exclusively for short-term bridging of financial problems . Before concluding the loan agreement, make sure that you can repay your loan within the set period.
Overview of Loan Tips:
- Inform yourself thoroughly about the loan conditions
- Compare different providers and lenders
- Watch out for hidden costs and fees
- Be wary of fixed-use loans
- Make sure you can easily repay the loan
Loan without Bank
At Small Lender, you get a loan without Bank, which does not mean that Small Lender does not do a credit check, but it means that the loan requests at Small Lender are Bank-neutral. They do not affect your Bank score and do not change it. Thus, the credit inquiries at Small Lender differ significantly from those of other banks. However, in order to safeguard both parties and to underpin the integrity of the offer, Small Lender always carries out a comprehensive credit check.
Pay off loan immediately
There are always situations in which fast money is needed. Whether to settle a bill or to fill the fridge in hard months with high additional costs and to ensure the normal life. Sometimes the costs are downright on someone and seem to crush them.
An instant loan from Small Lender the simple and quick stopgap solution in such cases. Thanks to a short repayment term and a manageable loan amount, financial emergencies can be bridged without complications. Thanks to the fast processing and the fast payment of your loan, you can overcome financial bottlenecks without much trouble.