This already shows that there should be a certain degree of trust between the trainee and the guarantor, as he takes a risk. Incidentally, the nature of the loan is irrelevant to a guarantee. Trainees who want a loan often include a parent or grandparent as a guarantor in the contract. This increases the likelihood of actually receiving the loan. But it is not always possible to teach a guarantor.
Even without a guarantee, the centiloan grants credit for trainees
Well-known market place in Germany is the company centiloan. Borrowers can take personal loans from private individuals, which is a good way to bank loans. Through the company, not only employees, but also trainees can look for a lender through the company, for example, to finance a car or the first establishment (more on “centiloan for trainees”).
A trainee who wants to get credit from a house bank often needs to be able to provide collateral for him. However, because trainees usually do not yet have large savings or securities holdings that can be used as collateral, often only one guarantee is considered (more on the guarantees). In the banking industry, on the other hand, a loan for apprentices is often granted by the various private lenders as loans for trainees without guarantors.
This is certainly very valuable for many trainees because it is unpleasant for many apprentices, for example, to demand a guarantee from their own guardians. In addition, when using it is usually the case that no safety precautions need to be taken. The lender alone determines whether a loan is granted to trainees without a guarantee or other securities.
Loan application is free and even small amounts of credit
Because trainees are often relatively small amounts of credit, barely exceeding the USD 5,000 limit, it is also true that some investors can quickly withdraw capital. In addition, training aid is, to a certain extent, a secure source of revenue, so it is easy to see whether the loan rate is sustainable in terms of cost.
But this is not the job of the lender and certainly not of the credit platform of the company centiloan, but each trainee must first determine how much his available money. If the apprentice still lives at home, there are no other significant maintenance costs. As a rule, it should not be an obstacle here to raise the agreed loan amount.
In addition, the apprentice benefits from the centiloans Loans platform, which is generally not a negative way to enter school at this age. All in all, the marketplace for loans offers a very good opportunity for trainees to reimburse certain costs such as the purchase of the first car or apartment.
The apprentices can also take out a loan through the centiloan credit marketplace without providing a guarantor as collateral. Thus, the personal loan through the company for many apprentices is a real alternative to bank loans, especially since the loan application is free and even small amounts of credit can be claimed.