Submission of a Declined Bank Loan?
It is not unusual for a bank loan to be rejected. If you have a refusal, you can count on the non- bank secured loans listed below!
Banks are always a great place to go when they need a loan. Whether it is a loan to buy a home or a vehicle, it may need cash to be used for other purposes such as for business capital. People choose to lend to banks for security reasons that are far from fraudulent. Also, the loan ceiling provided is also quite large.
But unfortunately, not all loan applications are always accepted by banks. Few people experience loan refusal for certain reasons such as requirements you cannot fulfill, documents provided are incomplete or unauthorized until you fail Bank Checking because you have previously had a delinquent debt elsewhere. If it’s like this, then what should we do?
Non-Bank Guaranteed Loan Options
Applying for a bank refusal does not mean that you cannot apply elsewhere because there are still many options for non- bank loan securities you need to know:
Close relatives and friends
The first choice is relatives or close friends. Some people tend to lend money to relatives or close friends when they are in need of a quick cash advance because the process is non-linear and does not require special requirements like a bank. The downside to this option is that the amount of money you borrow is definitely not too much. Plus, the possibility of online money loans being rejected by relatives or close friends is even greater because when you borrow, of course, they have funds available.
The second option for a non- bank unsecured loan is the office where you work. We often know this type of loan under the name of cash. Usually, the borrowed funds will be paid by deducting their monthly salary with the nominal and repayment terms agreed to by both parties, yourself and the office. The requirements to be met are also not exhaustive. Usually, you are only asked to make a loan statement that will be given to the finance department. If the loan is approved, the funds will be liquidated that day as well.
Unlike many loan options for family and close friends, lending options to this office also cannot provide a high loan ceiling. The average office will only lend at least 1 to 2 times the amount of your monthly salary.
For those who live in small towns, cooperatives are still the preferred choice of non- bank unsecured loans. The reason is that the interest given by this cooperative is so low that it is affordable to all. The cooperative, which is a non- bank institution, only provides for ID (Resident Card) ID, payslip, and electric or telephone bill.
Given that the source of this cooperative fund comes from the members’ dues, then the amount that can be borrowed is not large. The average cooperative only lend hundreds of thousands to a maximum of $ 5 million.
Venture Capital Company
If the funds you want to borrow are used as venture capital, then you can apply for a non- bank unsecured loan to a venture capital firm. What exactly is a venture capital company? Venture capital companies do sound foreign to their ears because few people use them. This venture capital company is a financial institution that will provide financing from one company to another through loans in the form of capital stock ownership aliases.
In other words, the venture you are going to invest in will be capitalized first by the venture capital company. In the future when the business is in progress, you will be required to return the funds along with the percentage of profits that the parties have agreed upon in advance. The amount of funds that this venture capital company can provide is huge because it can reach hundreds of millions. But remember, proposals and prospects you should definitely yes dude!