Credit with Mini Job

The application for a loan with mini-job depends on the investment that is to be made with the loan. Among the investments worthwhile with a mini-job loan are the financing of training and retraining. A loan for a rescheduling is worthwhile if it can be combined into several loans to one and the monthly burden is lower. Usually this is because of the more favorable conditions in terms of interest rates.

Credit mini-job and additional income

Credit mini-job and additional income

Regularly, an applicant for a loan must provide collateral and pass the credit check. This includes a positive credit bureau information, a permanent employment and a regular income. These criteria can not be met by a mini-jobber. If, in addition to this income, an applicant for a mini-job loan has a fixed monthly salary and permanent employment, it is no problem to apply for a loan from a bank or lender

Credit mini-job and additional income

Credit mini-job and additional income

In advance, the applicant for a mini-job loan with no extra income should consider carefully whether the loan is really needed, what the loan is needed for, and if there are alternatives so that no loan must be requested from a bank.

It is not common practice to lend money to people who earn their income through a mini-job, but some online banks now offer these loans.
If the loan is needed for a necessary purchase, such as the purchase of a washing machine, then the borrower has the opportunity to arrange financing directly with the dealer. The granted product purchases amount to a maximum of around 1,000 USD. As security serves in this case, the goods.

It will be, if the borrower is in default, recovered and secured. A proof of income is not necessary when buying on rates of goods. But it is a credit bureau information obtained, which must not be negative then. This would imply a bad payment behavior of the customer and an installment purchase can be denied by the dealer.

Credit with mini-job – guarantor necessary

Credit with mini-job - guarantor necessary

If a loan is unavoidable and there is no second or further income other than the applicant’s mini-job, then that person should be able to name a guarantor. This is a safety factor for the bank. If the bank grants the loan despite a mini-job and the claimant is in default of payment or becomes insolvent, the bank can turn to the guarantor. This must then pay for the outstanding payments.

Before talking with the bank about the loan with mini-job, it is necessary to make a statement showing what should be financed with this loan. Especially if it is investment for a financially more positive future, such as training or education, the banks usually grant a small loan, even if only the mini-job is the only source of income.