Getting fast money can be important. Sometimes it is financially tight or there is a greater desire that you can not afford directly from the resources available.
And you do not always want to negotiate long with banks and credit institutions, fill out many forms and collect many papers, but you just want to quickly get the money needed.
There are plenty of opportunities to do so, and here’s how to get started quickly and what you need to be aware of.
Fast money lends to the fulfillment of smaller and larger wishes
In today’s consumerized time, there are many big and small wishes that you would like to meet, but not always that is financially directly feasible.
In other cases, you need urgent and quick money because the car or the washing machine broke down and replacement must be procured or an expensive repair must be paid.
In these cases, you can not or do not want to wait for a sometimes time-consuming decision-making process of the house bank, but you want to have the money quickly and uncomplicated as possible.
This type of fast loan is quite possible and of course, to get in a completely legal and secure way.
For example, this fast money is offered
- from online banks and direct banks
- from crowdlending platforms
- as a personal loan
- as a corporate loan
- from pawnbrokers
- from various mail-order or department stores
Online banks and direct banks
With online banks and direct banks one can carry out all transactions directly on-line, without for example having to arrange an appointment with an agent in the local branch. This already means a great time savings and the loan approval is usually very fast at the online banks and direct banks.
So you can often already have a few days after the application to dispose of the money. Like other banks, however, the online banks and direct banks require certain securities and inform themselves in advance about the creditworthiness of the applicants.
For example, copies of the last payslips have to be attached to the application, but since this can also be done by computer rather than by post, a great deal of time is saved.
A loan at an online bank or direct bank is thus nothing more than a normal bank loan with the difference that it can be applied for conveniently from home without having to take account of appointments and opening hours, and that the commitment often very fast, sometimes on the same day, done and you can dispose of the money within a few days, assuming a sufficient credit rating.
Another way to make money quickly is to use peer to peer loans or crowdlending platforms.
On platforms like Lendico, anyone can submit a credit application, stating how much money is needed and for what. Free uses may be indicated as well as fixed uses such as the purchase of a new car, the financing of a move or the financing of training or retraining.
Private investors wishing to lend small loans can then participate in any amount of this so-called P2P (Peer to Peer) loan, and when the desired sum is reached, they pay their investment and the money is paid out to the borrower through the platform , A sufficient credit rating, which is checked by the Crowdlending platforms, however, is also required for this credit method.
Other forms of loan
There are also other ways to borrow money quickly, such as
- a loan from the provider Cashpresso, which, given its creditworthiness, quickly grants small loans up to € 1,500
- a loan from a company such as Profikredit or Wienkredit
- a request for an advance from the employer. Some companies also offer loans for their employees
- a request in the family
While many people are reluctant to ask for help in the event of a financial shortage in the family or in the company, these options make the most sense, especially in an emergency, when it is tight financially, because in an emergency one does not get into loan sharks exploit the financial distress and possibly lack of creditworthiness through high interest rates. It is true, the worse the credit rating, the higher the interest and the more expensive the loan.
For example, anyone who does not get paid at the bank often gets a loan from companies such as a professional loan or a Wienkredit loan, but at much less favorable terms.
Anyone who has no way of lending money quickly can also turn existing property into money. This is possible, for example, in the pawnshop. Anyone who thinks that pawnshops are a thing of the past, and at the moment they only appear in novels that play in shady circles, is mistaken.
Pawnbrokers are still there and there you can borrow various items such as computers, consumer electronics, jewelry or even expensive clothes. The pawnbroker pays out an amount for the items and you have a certain period of time during which you can repay the borrowed money and get back your pledged valuables.
If you do not repay the money on time, the pledged property becomes the property of the pawnbroker, who then sells it.
In addition to a variety of valuables, cars can be loaned in this way and provide fast money when needed.
Since the loaned items are lost if they are not triggered on time and the pawnbroker usually gets less than a regular sale, this method of earning money quickly is more suited to real financial shortages and distress than to Wishes that you would like to meet at short notice.
Buy now, pay later
When it comes to fulfilling material wishes, some stores offer deals like “buy now, pay later”.
This offer can be found especially at mail order companies and online providers, which attract customers to buy.
You must pay attention to this
As always, compare, compare, compare and even when it comes to fast money, you should take the time to compare the offers to find the cheapest terms, whether the bank loan or another form of loan. And before you go into the hands of expensive loan sharks, you should better jump over your own shadow and ask for help from the family or the employer.