A loan based on a statement is a form of cash loan that can be used for any purpose. Obtaining this type of loan involves completing the application and signing the income statement by the borrower. As a rule, it does not require any additional certification. The procedure for obtaining such a loan significantly shortens all formalities. It allows for efficient and quick issuing of a decision on granting or refusing the requested loan amount.
What is a loan based on a statement?
A loan based on a declaration implies faith in financial institutions that the declarations made by the borrower are true. However, this does not mean that they have no verification options. At the time of applying for funds, the customer may be asked to provide information regarding eg
- bank account number and documenting current account movements,
- address of residence and status to the premises occupied and the number of people remaining in the common household and dependent on it,
- forms of employment and all sources of income,
- information on the current state of indebtedness with other lenders.
Where to look for a loan based on a statement?
The entities granting loans based on a declaration may be all kinds of institutions which, based on their respective legal provisions, deal with financial activities. They include banking institutions – commercial and cooperative banks as well as non-bank financial institutions (eg loan companies, cooperative savings and credit unions, loan social networking sites).
What does it look like in non-bank financial institutions?
Lender company financial institutions have a more liberal approach to loans on declaration. The conclusion of loan agreements with non-bank loan companies is also legally conditioned, but it is not subject to all restrictions imposed on bank loans. Minimum formalities, loans without BIK, and loans concluded online are passwords that are increasingly tempting customers who are in urgent need. The more so that the formalities related to obtaining a loan for a statement from non-bank institutions sometimes take from several minutes to one business day. For a loan for a statement in the so-called parabanks are certainly easier to try for those without financial credibility and the opportunity to document their sources of income. Those who work on principles other than an employment contract are willing to use them.