If a loan for trainees without Credit Bureau is desired, it is worth looking at a loan comparison. Various direct banks are managed here, some of which also completely refrain from querying Credit Bureau. This also gives people the opportunity to take out a loan if the Credit Bureau entry is already negative in nature.
Rejected the loan
A negative Credit Bureau entry may well be a reason for rejecting the loan application if the applicant also has a below-average or very low net income. With the loan for trainees without Credit Bureau, at least the Credit Bureau entry of the trainee is no longer a factor in the evaluation, but trainees encounter further problems with borrowing that are not so easy to solve.
As a rule, the trainees’ incomes are very low, a net income of more than 850 USD is hardly achieved, and if only in some well-paid sectors. As a result, the bank simply cannot give a trainee creditworthiness if income is the only factor in the evaluation and this is only available in a very small form.
A trainee with an average trainee income is almost always forced to include a guarantee in the loan agreement so that he is even granted a credit line.
Swiss banks can hardly be used either
The best-known lenders who issue their loans entirely without checking the Credit Bureau are certainly the Swiss banks. However, these have high requirements with regard to the income of the borrower, which is why trainees have virtually no chance of getting a loan here unless they bring a very liquid guarantor into the loan agreement.
For example, this could be both parents or at least one parent, but grandparents could also be considered. The guarantor is then subjected to a credit check, as has already been implemented for the borrower. If the guarantor is granted a sufficient credit rating for the guarantee, the loan for trainees without Credit Bureau can be taken out, which is often still only a micro or small loan.
Really high loans cannot be taken up as an apprentice because the term of these loans would have to be very long. However, since there is no guarantee that the trainee will immediately find a new job or be taken on in the company after completing his training, a relatively short term of 1 to 2 years is particularly recommended for a loan for trainees without Credit Bureau.
However, these are only possible if the monthly installments are not too high due to the short term.