Online small business loans -Borrow today small business borrowing

Borrow today small business borrowing

Peer to peer borrowing is also a form of borrowing money without a bank. Usually, both parties are private individuals. For this, you become a member of a platform to provide loans or to apply for a loan.

It is striking, however, that a loan can be obtained by several lenders. For example, a loan of 1,000 euros can be provided by 10 people who each borrow 100 euros. For the investor or lender, it is a way to spread risks.

Crowdfunding for individuals?

Crowdfunding is a form of peer-to-peer borrowing. With crowdfunding, however, it usually concerns companies that want to realize a project and appeal to the general public. For example, investors can get a share in the company. It may also be that it is a mere loan in which the investor receives his money back. 

Via us, individuals can borrow money from other private individuals without the intervention of a bank. Investors must have a starting capital of 1,000 euros. Lending is not done directly. The platform works with so-called ‘notes’ that are similar to bonds and serve as an instrument for lending to individuals. There is, therefore, no direct link between the borrower and borrower.

Moreover, individuals are also carefully screened. It also checks whether there is no mention on the blacklist by consulting the CKP database. Investors can lend money to someone from 25 euros. After all, every loan consists of many smaller amounts that are provided by several investors.

Borrowing money without a bank as an independent entrepreneur

A plan usually starts with a dream, but after all, realizing a plan costs a lot of money. Many starting entrepreneurs, therefore, need a loan to realize their plans. However, it may take some effort to convince a bank of the plan and to obtain a loan. More and more people are looking for alternatives.

Online Lenders

Business loans (usually the investment credit) still differ much from the traditional consumer credits such as the installment loan. You will not find many online providers where you can perform simulations as a private individual. 
An online provider that does provide loans to entrepreneurs is OakPark Financial. You can contact this party or apply for more information.

Other possibilities for entrepreneurs

Crowdfunding has long been an understanding among entrepreneurs who want to raise capital to further finance their projects or business. 

Tax shelter for start-ups: Relatively new is the possibility for private individuals to invest in start-up companies through the tax shelter system. For this, they can benefit from a tax reduction of 30% or 45% if you invest directly in the capital of start-ups.

Borrow money without bank with listing on the blacklist?

Anyone who thinks that borrowing money without a bank is an alternative because the lender does not ask for your financial situation is there for the trouble. Online lenders will also have to consult the list of the National Bank of Belgium.

Online providers of loans that do not provide banking services must adhere to the same rules to be able to provide loans. They must therefore also check whether you are solvent enough to repay the loan. 
You can only get a loan if the creditor can prove that your application is well-founded and that it appears that you would be able to repay the loan. A listing on the blacklist makes it much more difficult to obtain a loan, but in certain cases, it can.

Is a loan necessary?

Are you looking for a small loan to finance an unexpected cost? Then consider whether borrowing money is necessary. Perhaps it is sufficient to ask for an advance on your wage with your employer? Or maybe friends or family can temporarily lend a hand?

Are you planning to buy a car and are you looking for a car loan? Do not forget to ask the car dealer if he does not have an interesting offer. It may also be possible that he works closely with a lender. Who knows, you can lower the total cost price in this way.

Why borrow money without a bank?

In general, traditional banks sometimes dare to offer loans with a relatively high interest rate. Online providers without banking services specialize in certain types of loans and are often able to offer a cheaper loan.

One of the main reasons not to borrow from a bank is, therefore, to look for cheaper interest rates. However, do not exclude traditional banks when carrying out a loan comparison!

Borrow money through store promotions?

In the meantime, you will have noticed that many retail chains allow a purchase to be spread out even at 0% interest. This usually happens in collaboration with a lender.

Sounds very interesting, of course, but do not forget that it is a revolving credit card (similar to a credit card) and that this can have consequences:

  • The credit card is reported to the CKP. If you apply for a loan later, the lender will take this into account. A lower loan amount may possibly be a consequence of this.
  • Non-payment also has consequences: If you are unable to pay everything back in time, this may result in withdrawal on “the blacklist”.

Do not be too quick to take out a loan or credit, first of all, check your options and consider whether there are no possibilities to avoid lending. Perhaps the purchase can be postponed for several months and can you already save some of the money? Or your friends and family can lend a hand to reduce the burden? Is a loan absolutely necessary, look around the different providers and make loan simulations so you can estimate in advance how much the monthly charge amounts?