Loans without collateral, what are they and how do they work?

Having a guarantee is one of the conditions that most banks establish to grant a loan. However, it is possible to obtain financing without providing goods or properties as a guarantee of payment, thanks to loans without collateral .

That's right, you no longer need to guarantee your assets to request a loan . Apply for your loan without an endorsement and get your money instantly and without paperwork.

Offer of loans online and without endorsement

At taichi-arts.com we present you some of the best private lenders that grant quick loans without collateral . These companies operate 100% online and do not require as many requirements compared to banks.

Last update: 11 November 2020
Ranking created based on the most frequently granted loans
7 - 30 days
term
$ 50 - $ 300
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
1 - 48 months
term
$ 50 - $ 7,500
maximum first loan
No
free first loan
No
Supports Credit Checker
" APPLY FOR "
91 - 120 days
term
$ 100 - $ 1,000
maximum first loan
Yes
? Varies by lender
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
61 - 120 days
term
$ 50 - $ 300
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
6 - 60 months
term
$ 500 - $ 10,000
maximum first loan
Yes
? varies by lender
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
2 - 3 months
term
$ 50 - $ 750
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
1 - 60 months
? Even from 7 days
term
$ 50 - $ 9,000
maximum first loan
No
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 30 days
term
$ 50 - $ 1,000
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 62 days
term
$ 100 - $ 400
maximum first loan
Yes
? Up to € 300
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
2 - 3 months
term
$ 50 - $ 750
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 30 days
term
$ 100 - $ 1,000
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
1 - 48 months
term
$ 50 - $ 5,000
maximum first loan
Yes
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
10 - 34 days
term
$ 300 - $ 500
maximum first loan
No
free first loan
Yes
Supports Credit Checker
" APPLY FOR "
5 - 31 days
term
$ 50 - $ 500
maximum first loan
Yes
free first loan
Yes
? Your debt must not be more than 1500 $
Supports Credit Checker
" APPLY FOR "
18 months
term
$ 100 - $ 1,000
maximum first loan
No
free first loan
Yes
Supports Credit Checker
" APPLY FOR "

As if that were not enough, some of them grant a free first credit , that is, without interest !, so do not hesitate to consult the offers to find the one that best suits you.

What are personal loans without collateral?

Usually, to obtain a loan, it is necessary to have the endorsement of a third person who, due to their financial stability, guarantees the payment of the loan.

In the case of loans without collateral, it is not necessary to have a guarantor or provide a home or property as guarantee of payment , but only a review of the credit history and the ability to pay of the applicant is wanted to consider the issuance of the credit.

In short, loans without collateral are a tool that allows obtaining financing without the need to provide guarantees of any kind.

When to apply for a fast loan without endorsement?

In general, we ask for a loan to face unexpected expenses or solve a difficult economic situation, and loans without collateral allow us to get the necessary money without having to resort to guarantees or guarantors that serve as collateral before the lender.

advantages of loans without collateral

In this context, fast loans without endorsement are ideal when we require instant financing but we do not have the support of a third party that can answer for us. In the same way, they are useful when we do not want to provide any type of personal good as a guarantee .

Thus, for example, if you want to request a car loan but do not want to put your home as collateral or get a guarantor, you can request a loan without an endorsement and obtain financing without any problem.

Types of loans without collateral

When applying for an online loan, you can choose between different types of financing, including:

  • Online microloans
  • Credit lines
  • Installment loans

Online microloans

Some financial institutions grant online microcredits that are small quick loans without the need for an endorsement, being much more accessible than bank loans . The entire process is carried out online and in a matter of minutes, making it an excellent option if you require financing instantly and without paperwork.

The amount you can request will depend on the credit company you choose, but it can range from € 50 to € 1,000 or a little more.

Now, among the best microloan offers are the loans from Welp and Vivus.es . The latter offers a free first loan, so you will not have to pay any interest rate.

Credit lines

Lines of credit without collateral are a great option if you require long-term financing. They serve as a kind of financial cushion and allow you to face an investment progressively, not to mention that they offer lower interest rates than those of a credit card .

This type of financing is especially aimed at small companies and self-employed workers , although it can also be requested by individuals. The advantage is that the contribution of an endorsement is not required, which greatly simplifies the process.

Installment loans

Installment loans without endorsement are a good alternative if you want to request a high amount, since they allow you to return the money in comfortable monthly installments that adapt to your possibilities .

In case you are interested, some of the companies you can trust to request this type of loan are Finzmo and Creditea .

The maximum amount and the repayment terms vary according to each entity, so we recommend you evaluate each offer before making a decision.

What are the requirements to apply for a loan without collateral?

Each financial institution establishes its own conditions to grant a personal loan without endorsement. However, there are some common requirements among entities that process this type of advance:

  • Reside in the United States and be over 18 years old.
  • Be the owner of a bank account.
  • Have a valid DNI or NIE.
  • Have regular monthly income .
  • Have an email and a mobile phone number.

What is the maximum amount that can be requested without endorsement?

Maximum amount of loans without collateral

The maximum amount you can request will depend on the financial institution where you process the loan, as well as the type of credit you choose. We know that microcredits correspond to lower amounts, fromloans of € 300 to credits of € 1000, while installment loans comprise higher amounts of up to € 40,000.

Likewise, your financial situation, the company's risk policy and the offers available at the moment will be key aspects in determining the maximum amount that you can process.

Are there loans without endorsement or payroll?

Being on a payroll and having a guarantee are two of the conditions that banks generally establish to grant a loan.

Fortunately for those who do not have a payroll and do not have the backing of an endorsement or guarantor, there are entities that grant loans without payroll and without endorsement instantly .

For these entities, it is only necessary to have an alternative source of regular income that ensures that you can meet the payment. Thus, you can use a pension or a receipt for unemployment benefit, for example, as a means of proving your source of income.

Loans with Credit Checker without endorsement, is it possible?

Surely you have thought that obtaining a loan without an endorsement with Credit Checker is something impossible. However, there are financial entities specialized in credits with Credit Checker that can help you get the money you need.

Keep in mind that some of these companies usually set a series of conditions that you must meet in order to receive financing:

  • Have no bank or financial debt.
  • That the amount of the debt for which you are in Credit Checker is not greater than a certain amount (usually € 1,000)

It should be noted that loans with Credit Checker without endorsement are usually offered for low amounts of money , since there is no guarantee for the return of the credit.

How to apply for a quick loan without endorsement?

Loan application without endorsement

Applying for a loan online and without endorsement is very simple, just follow the steps below and receive your money in a matter of minutes:

  1. Once you have compared the offers and you have chosen the financial institution with which you want to apply for the loan, enter their website by pressing the " REQUEST " button.
  2. From there, select the details of your loan, including the amount and the repayment term of your preference.
  3. Complete the form with your personal and bank information, which will be used for the entity to evaluate the risk of the credit you request.
  4. You will receive the terms of the contract and you must indicate that you agree with them.
  5. Finally, if the credit is approved, you will receive the money in your account immediately.
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