For loan seekers who, because of your Credit Bureau, have no way of obtaining a loan from a Agree bank, a loan from foreign banks is interesting. The bank cannot be chosen freely, however, as credit brokering is activated. These credit intermediaries, which can often be found on the Internet, have a good chance of getting a loan from foreign banks.
The loan from foreign banks is granted without them obtaining information from Credit Bureau. When it comes to lending, everyone counts on the labor income of the borrower. The income explains the fact that only people who do work will also receive a loan.
Capital credit without Credit Bureau information
The best known loan from foreign banks is probably the capital loan offered by credit intermediaries. This is a small loan, the total of which amounts to a maximum of 3,500 USD. This loan from foreign banks is granted if the applicant has a seizeable income without receiving information from Credit Bureau. Not only those who have a negative Credit Bureau, but also those who have no entries often choose this type of loan. The simple reason for this is that your Credit Bureau should stay clean. The loan is not passed on to Credit Bureau, so that it does not appear at all. This means that the applicant never has to provide this credit for other credit inquiries.
Good conditions with foreign banks
The difference in terms is serious when you compare the foreign and Agree banks. This is often due to the different interest rate levels in the countries. The interest rate is much lower and the monthly rates are also much lower than at Agree banks. The loan is usually paid out without any problems and the administrative effort is very low. Nevertheless, the individual banks should be checked and attention should be paid to the currency in which the loan is granted.