In this blog post, you can get answers to frequently asked questions about borrowing money despite poor credit standing. We also ask common questions if it is possible to take out a loan without credit information.
Can I take out a loan with a low credit rating?
In order to take out a loan with us, it is generally required that you are creditworthy. This means that it can be difficult to get a loan granted if you previously had difficulty repaying the loan, are indebted or have payment remarks.
When you apply for a loan with us, we always do a credit report on you. This is to evaluate and assess your credit rating. It is therefore not possible to borrow money quickly without credit information with us.
Why can’t I take out a loan without credit rating?
Since we are a secure lender, we obviously do not want to put our customers in a financial situation that they cannot cope with. This is thus the main reason why it is not possible to take out a loan without credit rating. Another reason is, of course, that we want to be sure that you can repay your loan.
If you want to improve your credit rating, there are several things you can do. First, you should be debt free and make sure you don’t get any more debt. It is also important that you do not receive any payment notes. Fixed employment is also something that improves creditworthiness.
What do I do if I want to take out a loan but have a poor credit rating?
If you want to take out a loan but have a poor credit rating, there is a possibility that you may be granted a loan with us. This is when we evaluate your entire financial situation when applying for a loan. With us you can always apply to borrow 2000 – 15,000 USD. If you want to apply for a loan with us, it is not difficult either, you just have to follow these three simple steps:
- Register online
If you want to apply for a loan with us, the first thing you need to do is register on our website. In order to register you must be at least 18 years old, have a Swedish social security number, e-mail address and account number. As mentioned before, we will also do a custom credit check on you
- Confirm your identity
After registering, you need to confirm your identity. You can do this either by using Instantor and your bank account or by a manual process for identification
- Get the money paid out in the account!
Once you have confirmed your identity, we will immediately begin processing your application. We can therefore immediately give you a message and pay your money. This way you can expect to get the money in your account in no time! We are not locked out of office hours – payments are made regardless of day and time of day.
How much does it cost to borrow money from you?
If you want to know what it will cost you to borrow money from us, you can use our loan calculator. In the loan calculator you can also calculate what you will have to pay each month for your loan.
It is not difficult to repay loans with us. As a customer with us, you only have to pay one or more invoices. In addition, you can always keep a check on your credit by logging into your profile. If you would like to repay a larger portion of the loan, you can always do so as well.