There are many reasons for wanting or even having to take out a loan. The range extends from the financing of a house or apartment over the new car to the latest TV set. So there is hardly anything that can not be financed by a loan – no matter in what amount. And sometimes a loan has to be made just to cover a financially scarce month. However, all these loans have one thing in common: They usually have to be collateralized, ie the lending bank must be sure that the loan can be repaid. In the critical case, by means of a statement on the assignment of wages and salaries. But some banks also lend without any collateral and in the form of a blank loan . The following article explains what this loan type is all about.
The blank loan in its basic definition
The basic definition of the blank loan is as follows: It is a loan that is awarded regardless of its purpose, so be it for smaller or larger investments of all kinds. And that without the lender takes a hedge in the loan agreement. What does this mean in practice? The answer to this is that in the case of a credit line provided by the lending bank, no guarantees, negative declarations or arrangements for a wage or salary assignment to the creditor are required. In the case of non-payment, the bank thus bears the full risk of a loan default.
However, what looks like the optimum of a loan for one person or another is in practice a loan for a very limited target group. The decisive factor for granting a blank loan is the creditworthiness of a potential credit customer. If the applicant can prove a very good credit rating on the basis of submitted documents (eg proof of income, assets etc.) and this is confirmed by a SCHUFA examination by the bank, the chances of a blank loan are not bad.
Blank credit: who gets it and what must be respected?
Under the aspect of the creditworthiness can in principle each one – whether state institution, firm, entrepreneur or private individual – a blank loan apply. But as already mentioned, it is immensely important to have a perfect credit rating. Private individuals should therefore have a secure and sufficient income and be able to demonstrate an indefinite employment relationship, as well as a clean SCHUFA. In addition, the loan amount should not be higher than two to three times the normal monthly income. Companies and entrepreneurs must ensure that the entire payment transaction runs through the credit account in order to give the lender the opportunity to follow the development of the credit rating. In addition, the company must have sufficient equity, generally good earnings and profits, and show long-term positive trends. The allocation, especially for companies , is also linked to certain key figures: corporate loans, the sum of which exceeds 30-40 percent of the company’s equity, 20-25 percent of the net turnover and / or three to four times the company revenue, will not forgive more blank. The desired loan amount for a plain loan must therefore remain below these percentages. Since these orientation factors clearly depend on the daily business and can improve but also worsen at any time, it is possible for the banks, even later, to demand further security. As a general rule, anyone who wishes to have a blank loan as a person must, in addition to the good credit rating, be at least 18 years old and have a residence (or company headquarters) in Germany.