Unpaid loans have become very appreciated financial products among the different profiles of individuals who need financing: entrepreneurs, savers … The origin of this particular success, on the other hand, is found in a relatively recent context.
Below, we tell you what circumstances have influenced the popularity of this type of credits.
Why the application for credits without payroll?
In the loan market, the granting of this kind of loans has always existed. And is that the existence of those who had more “soft” conditions than most has been a constant throughout history. A constant though, especially in recent times, also an exception.
Keep in mind that the market for these financial products tended to develop and be standardized among the different states. It is then when the payroll became a fact to take into account when considering the ability to return a client. But, as we have anticipated, the formats of the credits throughout the world have been diverse. And not always the payroll has been key in its concession.
A review of the specific context of these financial products
Therefore, it is worthwhile to stop in the context that has made it a benchmark, practically, definitive to determine whether a client is worthy of funding or not. In this sense, we have to focus on the years of the structural economic crisis that began in 2008.
In the framework of the last major crisis that our country has gone through, the banking sector played an important role. Remember that, among other problems, he was accused of unpaid fees related to the credits granted. For this and other inconveniences, from the public institutions, adjustment measures were promoted that sought greater austerity in all types of operations. The management of the credits, therefore, was not going to be left out of them.
Within the framework of the public intervention of the banking sector, and as a condition for its rescue, it was established that the guarantees relating to the granting of credits should be tightened. The aim was to avoid losses caused by refunds that were not made. The risk departments of the banks took note of these guidelines and began to apply stricter criteria when granting loans.
These are the specific requirements that began to be demanded
So, among the requirements that began to be requested to candidates for credit, we emphasize the requirement of a guarantee and a payroll. These premises would become the keys for the approval of contracts. Likewise, the inclusion of the client in the files of defaulters managed by entities such as AB Finance and RAI began to be considered. But there is no doubt that the accreditation of the payroll would be the basis on which they would be set when granting or rejecting a loan.
This requirement, for the economic security that it transmits to those responsible for the risk departments of the banks, has been revealed as the best valued in these processes. In addition, it is usually linked to a contract with a specific duration. If it is indefinite or long, better, in this aspect, for those who have to decide about the credit.
The payroll allows accounting for the future earnings of a credit candidate. Profits that, according to the banking mentality, can be invested in returning the installments of the credit granted.
In the following lines we will explain why non-payroll loans have become an ideal alternative to the impossibility of crediting a fixed salary to achieve financing.
Some financial products that do not require payroll
And, to show that you have the capacity to return a loan, you do not have to have a payroll. In fact, if we applied this condition to all candidates for the granting of a loan, there would be a percentage of them that would never get it. And the absurdity of this situation would be that, in a large proportion of cases, there are people who do not have a payroll that can earn more money per month or per year than others who receive their income through this payment formula. Therefore, it does not make sense, in these circumstances, to deny a loan to someone who has demonstrated a return capacity superior to that of the one who charges a current payroll.
There are professions in which, due to temporary and non-permanent jobs that are carried out for a variety of clients, neither is paid by payroll. In these cases it is paid at the completion of each work or service performed. And, in these cases, it should not be considered that the ability to return the candidate who charges is lower than that of who receives an average payroll. The example that makes this question clearer is that of a painter of luxury works of art. As you can imagine, the payment for one of his paintings can exceed the current payrolls of a salaried worker throughout the year.
Therefore, you will understand the success of these credits for which you are not required to credit a payroll. You only have to show that you perceive a regular income, as we have exemplified before. The rest of the process is just as simple. And you just have to enter your personal and banking information in our Internet platform, since we are the intermediary entity for the granting of the credit.
The favorable conditions of these credits
As we carry out our function as intermediaries on the Internet, the procedures to manage the credits without payroll will be simple. They will allow you to save time and money, since you will not have to deliver the documents taking into account the opening hours of the branches.
In short, unpaid loans are ideal solutions for accessing financing for those individuals whose income is earned by performing specific jobs.