Private Capital Loan is specialized in granting loans with Financial Credit Institution and without payroll through private lenders. The applicant profile that is in Financial Credit Institution and also does not have payroll is the type of client that is most rejected by banks. However, Private Capital Loan does accept clients who cannot access bank financing and want loans with Financial Credit Institution and without payroll.
What it means to be at Financial Credit Institution
Being in Financial Credit Institution means that any loan request that we make to a bank will be automatically rejected.
Financial Credit Institution is the largest database of defaulters in Spain. Financial Credit Institution is made up of a large number of companies related to the banking and credit sector, but also companies in the insurance sector, telephone, service and energy companies. Any company that is part of Financial Credit Institution has the right to two things:
- Add any customer who owes you money as a delinquent within that database.
- Consult the clients that the other companies that are also members of Financial Credit Institution have added as defaulters to the database.
This means, for example, that a bank can find out if a telephone company has added you to Financial Credit Institution because you owe them an invoice for whatever amount. If this is so, even if it is an invoice without any relationship to the bank you are going to or for a really low amount, this non-payment will prevent your bank from granting you a credit.
Why the bank asks for payroll
Payroll is what the bank uses to know your ability to pay.
To put it another way, with your payroll they can calculate how much you can pay and therefore how long it will take to return the credit that you intend to request.
Not having a payroll is normally an impediment to accessing a bank financing line.
Loans with Financial Credit Institution and without payroll
At Private Capital Loan we grant loans with Financial Credit Institution and without payroll since we are not as demanding as a bank when it comes to requesting requirements to open a line of credit.
Our smaller size as a company with respect to the size of a bank gives us much more flexibility in studying and opening lines of credit.
This means that we can study applications rejected by banks and credit institutions. The conditions of our loans with Financial Credit Institution and without payroll are as follows.
You must have a real estate
This property can be of any type (a house, a flat, a commercial premises…). A simple note from the property registry is enough to show us that you are the real owner of the property.
The loan is for at least $ 6,000
Opening a line of credit has high fixed costs (real estate, notary, management, administrative…) that are difficult to assume if the credit to be requested is less than $ 6,000.