Loans are often advertised in this form or something similar. Formulations such as express loans without Credit Bureau or fast loans are intended to draw attention to the fact that these are loans that are both processed quickly and paid out quickly. However, it is a mistake to believe that the advertising promise “urgent financing without Credit Bureau” is particularly quick.
Urgent loans despite a negative Credit Bureau
Urgent loans despite a negative Credit Bureau have to go through the same processing path as the loans, which are not called that. The loan applicant has to make an application, the bank has to make an offer, the contract has to be sent to the customer by post, the customer has to authenticate himself using the procedure and the documents have to be sent back to the bank by post. There they have to be processed and checked and only then are they paid out, in which case the transfer times must also be taken into account. That means, no matter what a loan is called, from one day to the next it will not run due to the associated process, even if it is an express loan without Credit Bureau.
The peculiarity of urgent loans without Credit Bureau
A loan applicant cannot apply for an express credit without Credit Bureau directly from a bank. There are no loans without Credit Bureau in Germany. This in turn means that a credit brokerage or a credit broker must be interposed, which does not speed up the entire process, but only makes it more expensive if it should actually be a matter of brokering urgent loans without Credit Bureau. The credit intermediaries receive commissions for this brokerage if the brokerage is successful.
The credit intermediaries live on these commissions and commissions from other brokerages for insurance and building society contracts, so that their interest has always been geared to brokering credit as quickly as possible, which is then clearly underlined with the advertising statement rush credit despite Credit Bureau. Nevertheless, every loan seeker should assume, no matter how in a hurry, that an express loan without Credit Bureau query is now standardized banking products that have a certain processing path that can hardly be accelerated. So if you urgently need credit from one day to the next, rush financing without Credit Bureau will not bring the solution to your financial problem.