What is private loan?
The loan between individuals is a particular form of financing that is brokered by special regulated operators, and which allows to obtain a desired amount of money through an extra banking channel.
This type of financing allows you to get the best rate at very favorable terms. This is due to the simple fact that money exchanges occur between individuals, without financial intermediaries.
Anyone can make one: even when, for example, you borrow a sum of money from a relative or a friend, you are participating in private financing .
Today I will explain how to do all this, through companies (precisely intermediaries), born to facilitate the meeting between the demand and supply of credit through this channel extra banking.
Company where to ask them
In Italy there are not many online companies that allow intermediaries to demand and offer loans between individuals . The best-known and best-known companies in the online social lending are definitely Smartika , Prestiamoci and Soisy .
Portals that, upon registration and identification, allow to obtain loans via the Internet or – on the other side of the virtual “counter” – granting the availability to provide personal loans .
Subscribing to these platforms will bring you several advantages. The most important is related to your privacy , in fact you will not in any way make your sensitive information known to any individual person.
When they agree
Loans between individuals are a great alternative if you have been refused a loan . Among other things, these social lending platforms can guarantee more advantageous conditions than all other loans.
the whole process will take place online, and you will only be asked to provide the minimum information so that you can allow social lending portals to check your creditworthiness .
In a few days, you will then be able to get hold of the amount of money you want, easily and without risk.
Articles you would like to read : Loan between Private Loans / List of best online banks / Soisy, the new portal for loans between individuals / Loan between private Smartika
Average interest in social lending
The interest rate of loans between individuals through social lending depends mainly on the amount requested and on the level of risk of the debtor.
It follows that it is very difficult to try to hypothesize an average interest perceived by private loans. I advise you to stay up to date on new rates to understand how to proceed in the best way.
Let’s, for example, promise nominal annual interest rates ( TAN ) starting at 3.90%, and global effective annual rates ( APR ) starting from 5.40%.
Certainly very interesting and competitive levels, which however can go up (even significantly) as the debtor is assigned a higher risk class .
Keep an eye on any fixed and / or variable fees for each request, also dependent on the class of risk belonging to the user.
Also in this case, an example could be of benefit: Smartika receives between 1.7% and 3.2% for loans as its own commissions , and between 0.35% and 3.5% per loan as a contribution to the lenders’ protection fund.
Loan formulas between individuals with no interest
As I explained to you before, it is still possible to try to exchange funds without resorting to these intermediaries and without any interest being provided for .
Consider the case of an exchange of money between relatives or between two friends, without there being necessarily an applied interest rate.
Despite the good personal relationships that probably will affect the relationship, I suggest you take out a private writing , so as not to take risks and still have a certain traceability of the agreements entered into.
Loans between individuals with bills of exchange
Another alternative form of private loan is linked to loans with bills of exchange . In this case, the creditor may dispose of an executive title that is readily expendable in order to be able to assert its rights.