Young people start their careers after completing their studies or vocational training. Workers without completed training are considered to be beginners in the first few years. The first employment relationship after an apprenticeship or studies often requires the purchase of your own car.
During the apprenticeship, trainees living with their parents would like to move into their own apartment after passing the journeyman’s or assistant’s examination.
Borrowing by young professionals at a bank
Financial institutions are often too hesitant to give a loan to young professionals because their income is low in the first few years of employment. In addition, more and more employers are initially only awarding temporary employment contracts. This does not apply to the takeover of a previous trainee by the training company, since in this case there has already been an employment relationship.
Students can avoid the need for a loan for young professionals by applying for a graduation loan within the examination semester, even if they do not currently need the money.
Best Bank pays promotional loans to students without checking the repayment, as this is covered by the salary of the subsequent job. Borrowing for young professionals is easier if the young professional borrows the loan with another applicant.
Borrowing by young professionals outside of banks
It is very easy to get a loan for young professionals from a mail order company by choosing the partial payment as a payment option. Most dealers only make a Schufa request to new customers, but do not inquire about the amount of work income. A loan for young professionals can be taken out at a commercial bank via an internet platform for credit brokerage between private individuals.
Since the private lenders registered there largely take the personal situation of a loan seeker into account more than hard creditworthiness facts, they deliberately grant loans to people who are difficult to borrow, like starting a job, through conventional credit institutions.
Borrowers indicate their personal situation, including the reason for the loan, on the platforms for personal loan brokering. Your data remains confidential since the platform operator handles the practical loan processing and no contact details or bank details are exchanged between the lenders and the borrowers.