Creditity has temporarily stopped offering personal loans for private individuals and only offers business loans for SMEs and the self-employed.
- If you want to borrow money as a private person, you can go to Lender & Spender or one of the other providers.
- If you want to borrow money from private individuals, it is best to go to Lender & Spender in the Netherlands. Money For Each Other is also known as a good platform, but you first have to pay for your application there.
- Providers such as Creditity have stopped taking out private loans. Read below for more information about borrowing money from private individuals
Creditity is a new platform for borrowing money. You can borrow money from private individuals here. Because Creditity is not a bank, it is a platform that brings together borrowers and lenders. You can easily apply for a loan. After approval by Creditity, private lenders can lend you the amount.
Borrowing at Creditity is not easy. You have to sell your credit application as if it were. After approval of your credit application, private lenders will register for your loan. So they have to be convinced a bit. It is therefore just as important that you provide a good description of your credit application. Explain well what you need the money for.
You can apply for a loan at Creditity for several reasons. For example for renovating a kitchen. But what is often used is also borrowing due to debts. If you have outstanding loans such as an expensive revolving credit, a credit card loan, or if you have been in the red for a long time, you can apply for a loan to refinance your debts.
The interest on the loan will depend on your personal circumstances. If you have a good income and it is stable, the interest rate will be relatively low. If your income is somewhat lower and moreover unstable, you will see this reflected in the interest. That will be higher.
Borrow money from individuals
Applying for a loan is free. But to receive the loan, additional costs are involved, so-called administration costs. You only have to pay these costs if the loan has been approved and your loan application is fully borne by the private lenders.
These costs are deducted from the loan amount. You therefore receive less money than you would in principle want to borrow. You can take this into account when applying for a loan. These costs are a maximum of 3.75% of the loan amount.
As a borrower you pay a one-off administration fee. These costs vary between 0.50% and 3.75% of the credit sum. The exact amount depends on the duration of the credit and your creditworthiness.
In addition to Creditity, there are also other providers of private loans. Borrowing this type of money without a bank is therefore on the rise. There are already 4 online platforms in the Netherlands where consumers can apply for a loan. The loans are usually fairly short loans of 2 or 3 years for example. CrossLend is a good alternative for Creditity. You can borrow from as little as 1,500 euros and from 6 months.