With negative entries in the Credit bureau, those affected in Germany no longer get a loan from a bank. But in these cases there is the so-called Lite lender loan. However, most people don’t know how to apply for one. The following explains how such a loan comes about.
When nothing works in Germany
In Germany, people with a negative credit rating can no longer borrow money from banks. The financial institutions fear too much a loan default. But through neighboring countries, these people can get a loan under certain conditions. These loans are called Lite lender loans because the banks are based in Switzerland.
You have no access to the Credit bureau and are not interested in it. However, in order to apply for such a loan, financial service providers must be involved. It is not possible to get a Lite lender loan without an intermediary.
There is no contact between the bank in Switzerland and the customers from Germany because all the formalities are handled by the intermediaries. If a Lite lender loan were obtained without an intermediary, those affected would have to pay a lot of money for the trip to Switzerland. In most cases, these people don’t have the money. There are also overnight costs, and everyone knows that Switzerland is not cheap.
The mediators take care of everything
You can find these agents on the Internet. They regulate all the formalities and check the loan applications in advance, because even a Lite lender bank does not grant a loan without any security. A regular employment relationship and a permanent place of residence in Germany are important. Loan seekers must provide evidence of an employment contract, recent pay slips, and other items to qualify for a Lite lender loan.
A Lite lender loan without intermediaries would not be possible at all and would also be too expensive. The fees for arranging the loan are significantly lower than a train journey to Switzerland and an overnight stay in a hotel.