When accessing financing or requesting loans with Financial Credit Institution and payroll through a bank, it will ask us for certain documentation in order to verify our ability to pay. Some of this documentation will be the following:
- Proof of income, such as our payroll, or an extract from our bank account in the event that we collect income (pensions, rents, etc.)
- The tax return of the previous year
- A working life report
- Information about our personal situation, for example if we are single, if we have children, etc.
- If we are already repaying other loans, in order to know our level of indebtedness
If any of the requirements that the bank sets are not met, we will not be able to access financing. In the case of appearing delinquent in Financial Credit Institution automatically see we have rejected our loan application, without taking into account the other factors.
Loans with Financial Credit Institution and with payroll
In Private Loan MB we have more than 7 years of experience in opening lines of financing through loans with Financial Credit Institution and with payroll.
In this way, we serve a sector of the credit market that cannot go to banks to obtain financing. All of our Financial Credit Institution and payroll loans are opened through private lenders.
The market for loans between individuals has become a real alternative and a way out of the problem of not being able to access financing because it appears in a delinquent registry.
Requirements to access our loans and with payroll
Loan Privado MB wants to completely separate itself from those fast credit companies that deliver the money without asking questions but in return ask for astronomical interests and fairly draconian repayment terms.
In all our operations we want to make sure that the client will be able to repay the loan normally while offering a competitive interest rate within the private loan market. To achieve both objectives, we set two mandatory requirements for any applicant:
- Have a real estate property in the name of the applicant, which will be used as a guarantee in the event of default. To verify that the property is actually in the name of the person making the loan request, we need a simple note from the Land Registry. It can be any type of real estate property. We will appraise this property independently to determine the maximum amount that we can grant to the applicant: approximately 30% of the appraised value.
- Request at least $ 20,000. This amount is the one that allows us to defray the fixed costs associated with the opening of financing lines through loans with Financial Credit Institution and with payroll, at the same time that we offer a type of competitive compared to market standards. This interest rate will always be between 9% and 12%.
Conditions of our loans with Financial Credit Institution and payroll
Private Loan MB has a much smaller infrastructure than a bank. This gives you a lot of flexibility in adapting to the personal needs of each applicant. For this reason, our applicants can choose practically each and every one of the characteristics they want to be able to repay the loan in the way they want:
- You can choose the duration, between 1 and 10 years.
- You can choose the type of amortization ; The French one is the most common with linear installments, although we also leave the American amortization option with interest-only installments throughout the life of the loan plus a final principal payment.
- Fees can be chosen: monthly, quarterly, semi-annually…
- We work with individuals and companies
- All our loans are signed before a notary, in any notary office in Spain that the client chooses, for the safety of both the applicant and the lender that leaves the money
- We are legally registered as a company specializing in loans between individuals and we act under the regulations that regulate the Ministry of Health and Consumption of the Government of Spain