A loan without a probationary period is the loan that is still awarded during the probationary period of a worker. As long as the employee is not definitively taken over by the employer, one speaks of the probationary period, which was not completed yet, therefore the loan without a probationary period.
Apply for a loan without a probationary period
Applicants who apply for a loan without a probationary period need a little more patience, they feel like self-employed or freelancers, which often have to ask at several banks. The background: Banks can not be sure that a candidate in the probationary period will be accepted by the employer and therefore can pay the installments permanently. It is therefore reasonable to keep the loan request a little smaller. This also affects your own house bank. It also looks at the creditworthiness of the borrower like any direct bank or other branch bank. Even if the borrower’s overall credit rating is positive, he has a good income and no other obligations, the probationary period represents a serious hurdle.
The loan request itself is quite understandable. Especially the probationary period may be due to the fact that in another city, a new job was started, which usually involves a move and some financial burdens. Also, a previous unemployment may be the reason for bottlenecks. On the other hand, the employer gets a picture of the employee during the probationary period, so the employment relationship could fail. The banks know that too. You can still apply for the loan without a probationary period. In many cases, there are completely new possibilities when talking to the bank, so that the loan can be fulfilled in one way or another.
Requirements for the loan without a probationary period
In any case, the conditions for the repayment of the loan must be given, that is, the income must be correct, the applicant should as far as possible have no hard negative characteristics. That would be a strong over-indebtedness or serious Schufa entries (insolvency, affidavit, seizure protection account). Otherwise, everything is in order, can be negotiated with the bank. Many direct banks and financial intermediaries today make personal contact with the customers and get an idea of their situation. If the probationary period is very short and the chances for a takeover are very high, the loan request can be fulfilled.
It is possible that the framework conditions for the loan are changed, there is a longer term or a slightly lower loan amount. All this not only serves the security of the bank, but also that of the borrower. Of course, guarantors are very valuable in the case of a loan without a probationary period, as are bank-standard collateral. If you can persuade a family member that the loan repayment will succeed, the bank will also give you a loan through this guarantee.
There are also ways to borrow on a P2P platform where private lenders meet your loan request. Here, several people each invest smaller sums in a total loan project, which distributes the risk. Many self-employed people succeed in doing so, even with a loan without a probationary period. Because it does not decide a bank adviser according to the strict guidelines of the bank, but several private individuals each decide for themselves whether you are creditworthy. This can improve your position considerably. The interest rates need not be too favorable, but at least the loan request can be fulfilled.