The example of Stuttgart shows how the situation on the credit market has shifted since the collapse of Lehman Brother Holdings Inc. Before the financial crisis, the state capital of Baden-Württemberg was considered the place in Germany where banks and savings banks campaigned massively for credit customers.
Anyone who applied for a loan from his house bank as a high-earning employee had to fear neither the credit check nor the Credit Bureau information. Loan approvals by credit institutions were the norm.
Crisis-related adverse effects on lending
A lot has happened since then. Bank insiders speak of slight crisis-related impairments when they want to express that a loan without Credit Bureau in Stuttgart is no longer possible. At least not from the established banks and savings banks. They adhere to the guidelines of the top European monetary authorities, the Best Bank. As a result, the tightened lending guidelines continue to apply to the entire eurozone. It doesn’t matter that Stuttgart is one of the highest-income cities in Europe. After all, several global groups have settled here over the past few decades. Over 1,500 flourishing medium-sized companies ensure that the economic landscape flourishes. But that leaves the banks and savings banks untouched.
Lending is shrinking less
After all, Best Bank chief Mario Draghi stated that lending shrank less in the second half of 2014. The attentive reader does not fail to notice that this statement is a cleverly hidden request to maintain the status quo. What does this mean for employees, freelancers and self-employed from Stuttgart who have additional financing requirements and want to take out a loan without Credit Bureau?
This group of people has no choice but to look around for alternatives. These are manageable, basically only private loans are possible. If the future borrower does not want to rely on good friends or relatives, he turns to an appropriate internet platform. Here, they have specialized in arranging loans without Credit Bureau, regardless of whether the applicant comes from Stuttgart or not.