Loans without paychecks are loans requested by those who, in fact, cannot claim this document to be provided as a guarantee for a loan but still need money to make purchases of any kind.
In this article, we analyze in detail this type of financing and list the 10 most important points.
- the lack of a paycheck makes obtaining loans more difficult. It is a fact that employees and retirees can obtain a loan easier than those who do not have a paycheck because they are self-employed or self-employed.
Banks and financial companies often tend to favor the granting of loans to those who have a paycheck or pension because such monetary revenues are stronger guarantees than what can be provided by the presence of a tax return.
- not having a paycheck does not mean being unemployed. The lack of a paycheck does not mean being unemployed, but simply not having an employee job or a pension. Applying for loans for unemployed people is a whole other matter, much more complex, which we talked about on our Fast portal portal in this article and in this other article.
- it is necessary to have a certain length of work. Although it is possible for employees to apply for loans for new employees (but only if they are employees of the public or ministerial sector), it is not possible to obtain funding if a company has been opened for less than a couple of years. This minimum period of time is required by banks and financial companies to ensure that the firm is solid and has growth prospects.
- providing other guarantees can be very helpful. Banks and financial companies often tend to ask for additional guarantees to freelancers, artisans and self-employed people who need money on loan. These guarantees serve to provide greater security to the lender that the repayment of the loan will be honored. The guarantor, in fact, becomes a debtor from the moment in which the main debtor does not repay the loan.
Insights on guarantees and loans:
- The guarantees
- Loans without paycheck with guarantor
- Loans with Guarantor
- Secured Loans, What Are They?
- Loan guarantees: the guarantee
- Single Signature, what is it?
- Salary certificate from the employer
- Loans in agreement and guaranteed for employees of the Armed Forces
- Without guarantees it becomes more difficult to have a loan, but it can still be done. We have already talked about loans without paychecks and without guarantees, providing a complete guide to applying for this type of financing. The main point, as we also said above, is that a guarantor can give that extra security that the lender is looking for in order to grant a loan.
- Bad payers and protests can have a lot of trouble getting a loan. If the self-employed were to be entered in the register of bad payers or in that of protesters (whatever the reason for registration), they could have enormous difficulties in obtaining funding. The registration in one of these two registers highlights difficulties in obtaining money on loan because they have not shown financial strength.
- Subsidized loans for craftsmen. Often reserved for this category of self-employed workers, they are not usually personal loans but loans for the company. Loans for craftsmen can be granted on more favorable terms than the classic.
- Interest rates are less advantageous than those of loans for employees and pensioners. Since the risks of the financial and the bank are higher than those of the loans with assignment of the fifth, the interest rates are usually higher compared to the latter solution.
- Refund by RID or postal payment slips. The loan is usually repaid by direct debit from your bank account or by postal payment slips. The first solution is faster and cheaper than the second, both because the debit takes place automatically, without the need to physically go to the post office to make the payment, and because it saves the cost of postal slips (at the moment in which we write the cost of paying a loan slip is 1.50 USD). For further information, we invite you to read our text on loans with postal bulletins.
- The best finance companies and banks that grant financing without the need for a paycheck. On Loans Online Italy we dealt with in the past to review some financial companies and banks that offer loans without the need for a paycheck, specifically we talked about:
- Loans without Astro Finance paycheck
- Loans Without Posta Italiane Payroll
- Loans Without Payroll, Does Lite Bank Grant Them?
- Loans for Housewives Without Income, this is how they work