Borrow with a low income? If you have a low income then you cannot borrow money everywhere. Partly due to the strict rules regarding borrowing money, it is often not possible everywhere if you have a low income. And if you can borrow money with a low income then you can usually borrow less money or face high costs. And despite the fact that borrowing money with a low income is more difficult, it is certainly possible. Although you will have to receive a minimum income and how much this is, this differs per lender.
How much to borrow with a low income
How much you can borrow with a low income depends entirely on the type of loan you want to take out. If you want to take out a personal loan or a revolving credit, you will encounter many restrictions with a low income. Furthermore, it will be checked whether you have a fixed income and whether you have other loans.
Borrow money with a low income
If you want to borrow a relatively small amount despite having a low income, you can request a mini loan. With a mini loan or also called mini credit you can also borrow money while you receive a low income. You have a low income if you are out of work and therefore receive benefits or if you receive another benefit or if you have a low salary. In these cases you can borrow money but there may be some conditions other than that you would have a higher income.
Bankil of loan
Wherever you can borrow money with a low income, the Good Finance is a loan. You can give items that you do not use as collateral to the Good Finance van loan. You will receive a sum of money for this. As soon as you have paid the money back, you will get your things back from the Good Finance as a loan.
Compare mini loans
If you are going to borrow money with a low income, you will have to pay extra attention to the costs of such a loan. The loan and the additional costs must also be paid back and the higher the costs, the more you will have to pay at the end of the term. Applying for a mini-loan with a low income is not a problem in most cases.
Often you must have more income than 1000 euros per month. You will therefore have to read the terms and conditions of the mini-loan providers carefully, as these may differ per lender. If you have found a few mini-loan providers that meet your needs, you will have to compare these with each other. By comparing the mini loans you will find out where you can borrow cheaper with a low income and at the most favorable conditions.