If a trainee needs urgent money and wants to cover it with a loan, then implementing the borrowing is not easy. On the one hand, trainees do not yet have sufficient creditworthiness, since only minimal remuneration is paid for the activity during the training, which does not allow a loan to be paid. In addition, the professional future of the trainee is still uncertain – and with it the repayment of the loan. Nevertheless, there are opportunities to implement the lightning credit for trainees. birchwoodtours.com for more.
Applying for a loan from the house bank
Applying for the loan for trainees at the house bank makes sense if the trainee is at the end of his apprenticeship and can also already have a guaranteed and written confirmation of the transfer to a permanent employment relationship. If these conditions exist, the house bank can also be open to a lightning loan for trainees. However, this loan is generally limited to a few thousand USD and is of course only granted if the trainee does not yet have any negative Credit bureau entries – for example due to unfulfilled cell phone contracts.
The loan from abroad
Due to the possibilities offered by the Internet, it is now also possible for trainees to obtain a lightning credit. The solution then lies in borrowing from a foreign credit institution that does not query Credit bureau or enter the loan into Credit bureau. However, the loan amounts here are limited due to the higher risks due to a lack of Credit bureau queries and the low income that the trainee has at his disposal. As a rule, the loan amount for the flash loan for trainees is around 2000 USD.
Borrowing with guarantors
The simplest and also cheapest solution for the lightning loan for trainees is borrowing with a guarantor. In this case, the guarantor secures the trainee’s credit with his or her own income or assets. The advantage for the trainee is that he is much more flexible in terms of both the loan amount and the choice of loan providers than without a guarantor.
This enables the trainee to take advantage of particularly cheap current offers from established providers for the lightning loan. With this loan solution, too, you should keep the amount as realistic as possible so that you don’t end up with negative Credit bureau entries in your professional life.