Residents of the city of Berlin have a hard time if they need a loan without Credit Bureau. In the debt compass of the Capital Lender e. V. places the city on the Spree in last place and the anonymity of a metropolis does not make it easier to take out a loan.
It is different in the countryside and in small towns. The clerks at the banks and savings banks know their customers there personally, so that a loan application can be processed quite quickly.
Often there is even a friendly relationship, because you meet in the local rifle club or with the volunteer fire brigade. People in Berlin can only dream of such conditions.
Instant loan from private investors
A new financing model can help – the instant loan from private investors. People with additional capital requirements advertise on special internet platforms. On the display, they provide information on the amount of the desired loan and the monthly repayment rates. They also state the interest rate they are willing to pay and the purpose of use. In many cases, this information decides whether the instant loan is made. While some investors are only interested in a high return, other investors are concerned about the security of their money. There are even investors who value that the borrower comes from the same city, in this case Berlin.
Is the credit legal without Credit Bureau?
In contrast to banks and savings banks, private lenders are not bound by strict legal regulations in the case of a loan contract. Loans without Credit Bureau and credit checks are generally allowed between private individuals. Banks and savings banks do not have a statutory monopoly right to grant loans. However, the agreements must be in the context of § 138 BGB (immoral legal transaction; usury). In the event of an infringement, the investor may face a fine or imprisonment of up to three years in accordance with Section 291 (1) No. 2 of the Criminal Code. It does not matter whether the loan agreement is concluded in Berlin or elsewhere in Germany.