It all depends on the credit decision

So many people ask themselves how long they have to wait for the transfer of funds. Let’s try to answer this question.

If you are applying for a cash loan for any purpose, it is usually enough to submit an application and prove your income (usually by means of an income certificate or by presenting a bank statement).

Currently, most banks automatically start the process of checking your creditworthiness. If nothing raises reservations, the bank issues a positive decision and you sign the contract. In the case of cash loans, this procedure does not take more than a dozen or several dozen minutes.

Positive decision – the bank does not delay the transfer

Positive decision - the bank does not delay the transfer

If all formalities have been completed, the bank proceeds to the implementation of the contract. In the era of fast internet transfers and the growing popularity of private loans, banks try not to stand out from the competition.

Thanks to this, the withdrawal of money to your account is ordered virtually automatically. Of course, much depends on the bank’s procedures, but institutions that only make payments on the second or third day are slowly becoming a thing of the past.

The same bank – instant transaction

It is worth knowing, however, that when you receive money from a loan depends not only on the bank’s operation. How quickly the transfer reaches you depends also on which bank you have a current account. If you take out a loan in a bank where you have your own account, you can be sure that the money will reach you within 15 minutes after sending it.

Do you have an account with another bank?

Do you have an account with another bank?

The situation is slightly different if you are an account holder in a bank other than the one where you decided to take a loan. In this case, the case looks the same as for regular bank transfers. The deadline for money to reach your account depends on the Good Finance session. Each bank has three outgoing sessions (when ordered transfers are made) and three incoming (when the money goes to the recipient’s account).

They differ slightly in each bank, however, we can assume that if the bank that gave you the loan orders a transfer by twelve o’clock it will reach you the same day. If he did it later – you will receive the money on the next business day along with the first incoming session of your bank.

To sum up, nowadays banks are trying to meet all the expectations of their customers, which is why they do everything so that they do not have to wait long for the transfer of borrowed funds. In most cases, the borrower receives them on the same day or the next day. This is good news for everyone who cares about time.

Why you should consider short-term loans?


Short-term loans are an increasingly popular credit product. At first they had a bad reputation, because they were considered usury products. However, after the 2008 crisis, credit practice was reorganized and today they are a product as respectable as any other. Do you want to know if you are interested in these loans?

How short-term loans work?

How short-term loans work?

The short term loan works like any other loan:

1. The borrower consults the offer of credit products and requests a loan from the lender that offers the best conditions.

2. Formalized the contract, the borrower will have to comply with the repayment schedule, promptly paying the agreed installments. In addition, if it is a company or self-employed person, you must compute the loan as a liability in your accounting.

3. If the borrower is late in the payment he will have to pay default interest. If, on the contrary, you want to anticipate the expiration, you will probably have to pay a penalty for such anticipation.

4. Paid the entire loan, this is canceled. In case of non-payment, it may be claimed judicially and will continue to accrue interest.

The only particularity of a short-term loan is that, by definition, you must repay it within a maximum period of one year. Although many entities grant weekly or monthly loans.

What are the advantages and disadvantages of this type of loans?

What are the advantages and disadvantages of this type of loans?

The main advantage of a short-term loan is that, as is usually a small amount, you can apply quickly and without much paperwork. In addition, if everything goes on wheels you can cancel it in a matter of weeks.

This allows you to get a liquidity injection when you need it most. For example, to deal with unforeseen expenses such as machinery breakage, a penalty or a cash flow.

As a disadvantage, it can be said that prompt payment; since the maximum return time is usually one year. On the other hand, the amount of financing for short-term loans is of low amounts. Therefore, it cannot be used for large projects, but for specific cases.

Is it profitable to apply for short-term loans?

Is it profitable to apply for short-term loans?

Short-term loans are profitable, because they serve to solve the lack of liquidity. In addition, for being of low amounts, approval is easier and faster. This type of loan is one of the most requested today in the online loan market.

For example, if, thanks to a short-term loan, you can pay a late installment of another loan with higher default interest, the operation will be taken into account. Or if thanks to these loans you can take advantage of an offer on a purchase and save more money than your credit costs you will be earning money.

In short, short-term loans are interesting credit products like any other, with their advantages and disadvantages. Before requesting financing you must always be informed. The best way to do this is to consult a comparator such as Ideal Loans, in which you can evaluate different loan options.

Collateral – securing credit in practice

It is not uncommon in everyday banking life that a loan has to be secured – this can have several reasons. It is possible, for example, that the borrower’s creditworthiness does not appear to be sufficient for a loan to be approved.

It is equally conceivable, or at the same time applicable, that the bank would like to minimize the risk of default due to the amount of the loan and that it will be necessary to provide loan collateral accordingly. What sounds rather bloated in theory is actually relatively easy to understand in practice.

Properties of the collateral

Properties of the collateral

It is of course important for the banks that they can actually use the respective collateral, because otherwise they are not really useful as collateral for loans. One of the main requirements that banks place on collateral is that the collateral can be converted into money quickly and easily – for example, without having to remove legal obstacles.

It is also important that the loan collateral does not fluctuate significantly or not at all in value – this applies in particular to the duration of the loan term, whereby increases in value are of course more accepted than losses in value. It is also assumed that there is no positive correlation between the security of the loan and the economic situation of the borrower, but this does not really occur in the day-to-day life of a bank. If the credit security is still insolvency-proof, it is purely a matter of security that the banks accept.

Common collateral for lending transactions

Common collateral for lending transactions

In practice, the theoretical possibilities are basically reduced to a fairly manageable number of possible collateralizations. The group of assignments or assignment of claims represents a majority, because this includes:

  • comprehensive insurance (vehicle financing)
  • Fire insurance (real estate financing)
  • Life insurance (death risk)
  • Capital-forming life insurance (loan repayment)

Guarantees are also very common in everyday banking, whereby the concept of surety, which acts as a deterrent to many, is often avoided and instead a second borrower is required in the loan agreement, although this is actually simply a guarantor. A distinction is made between guarantees from relatives, the spouse guarantee, guarantees, letters of comfort and guarantees from partners.

In practice, of course, securing loans using land charges is also common, but mortgages can only be found in ship financing in the form of ship mortgages, but not otherwise, since mortgages are ancillary collateral (that is, they are “already used” ).

Loans to cancel card debt | What is the best option?

Loans to cancel card debt are an option when you are drowned by expenses. Day-to-day shopping, your children’s school, unforeseen; and many other circumstances can get you into debt. Debt reunification is one of the ways to deal with them, but how to cancel a derivative from the use of a credit card?

How to deal with debts on a card?

How to deal with debts on a card?

When facing the payment of your credit card debts you can apply for various loans. However, some banking institutions do not accept the reunification of debts to deal with these situations. This is because a loan under these circumstances has no collateral. But other associated debts.

Thus, many banks do not accept the risk that this type of product entails. Those who do accept them usually put higher interest than normal to compensate. In addition, they will ask you for an asset, such as your house or car, in order to finance the new loan.

Loans to cancel card debt

Loans to cancel card debt

Although it may be difficult, the possibility of getting loans to cancel these debts exists. For starters, if there are many, you can opt for reunification, which gives you the advantage of having only one creditor. However, the repayment term will increase as a result of the unification of all debts into one.

Another option is to refinance debts one by one to get better conditions. This is easier to do if you only have one creditor. But you can choose to negotiate higher expenses and try to find a balance that benefits you. Negotiating a reduction in fees, extending the repayment period or a lack for a while maybe the solutions you are looking for.

On the other hand, there is that of resorting to a single loan to cover all debts. Thus, all debts could be eliminated at once, but a new debt would be incurred. In this case, you would have to calculate the amount that is already owed, in addition to looking for the option that best suits what you can pay.

However, you have to look at other details, as is the case with interest, since you could pay more. Also, if you are in a complicated situation, do not hesitate to seek professional advice to find the best solution.

In short, loans to cancel card debt are an option to consider. It is important to analyze all the options and look at the financial risks that you may have. In Good Credit Loans you can compare different finances that adapt to the total amount of all your debts. Remember to always evaluate interest rates, since they may be in your favor or on the contrary against you.

What options do I have to apply for low interest loans?

Low-interest loans have many advantages. Among them, there is the possibility of having the money you request in a short time and with a long term of repayment of the loan. In addition, the application is very simple and high quantities can be available in a short time.

It must be taken into account that they are not renewable and that, in the case of wanting to request another loan, a new process must be initiated. Keep reading and learn more about low interests.

What options do I have to apply for low-interest loans?

What options do I have to apply for low-interest loans?

Online lending entities have easy processes to perform solutions quickly and easily. You only need to know some personal data to be able to offer results that may be of interest. For example, depending on age, some loans are not available. Also, the time you have to repay the loan can also help you get really low interest on your application.

Are all the purposes of a bank loan the same?

Of course not. It is not the same to apply for a loan to be able to pay for medical treatment than one to be able to buy a new car. However, this data is taken into account once other data is known. One of them is age, employment status, and purchasing power.

It is necessary that you previously evaluate your monthly income and approximate expenses in order to determine how long you could get the loan you need back.

Low-interest loans Are they dangerous?

Low-interest loans Are they dangerous?

The proliferation of internet use to perform all daily tasks also leads some people to perform fraud. One type of fraud that many people interested in loans know is that of low (or even zero) interest. One of the recommendations is that you only maintain a relationship with serious companies, and also learn to recognize which loan is safer to avoid fraud.

It should be taken into account that the financial institution or the lender that offers a low-interest loan must be duly registered with the competent bodies, such as the Lite Lender. And if it is a foreign entity, you must provide verifiable data from this registry in your country and in Spain. Do not hesitate to search or request this information before accepting a loan. Of course, read the contract well before signing it and ask everything that makes you suspect that you are not understanding what is being said.

In Good Credit Loans, you can find low-interest loans, thanks to which it compares the best loans online. It is important to always evaluate different financial institutions to choose the best option.

How to get Loans with credit cards?

Credit card loans are part of the quick options to get money. Using a credit card may seem very simple, but the truth is that there is a whole world behind them. Today we want to share information of interest to get the most out of this type of loan.

Origin of credit cards

Origin of credit cards

Credit cards were created with the objective of facilitating the commercial process of paying with cash and to create a link with the shops. The first cards created were used to pay for gasoline on credit. Years later, the well-known Diners Club card was created. The birth of this card arose when its creator was having dinner and at the time of paying the bill, he realized that he had forgotten the money at home. This created the need to find a way to go to dinner without having to carry cash.

From an inconvenience, a great business idea emerged. Over the years, the Diners Club card became very successful and inspired other financial institutions. The vision of these companies was broader since they created the credit cards we use today to make universal payments in multiple establishments.

What to pay with them?

Since its creation, payments through credit cards have simplified purchases. One of the main advantages of using this payment method is the convenience of not having to carry cash. This led to another advantage, and it is security. Since it reduces the risk of losing money due to theft or loss.

On the other hand, credit card loans are very practical for making hotel reservations or buying airline tickets, among others. In addition to its usual use for shopping in stores and online stores. There is also another use of credit cards that dates back to their origin and is the payment in affiliated establishments. An example of this is the service stations, these offer discounts when paying fuel with these cards. The same goes for clothing stores, appliance stores, among others.

Loans with credit cards

Loans with credit cards

Acquiring loans with Good Credits is a common practice among its users, although it is often misused. This is because it is used to pay for everyday items. In this way, the debt increases more and more. Credit cards are a double-edged sword since interest is very high and each time debt is used it grows.

Getting a credit card is very simple. You just have to have a payroll or a checking account that keeps a certain amount of money every month. These are the main requirements of the entities to offer a Good Credit since they are less likely to default.

Credit card loans are a practical payment tool to make punctual purchases or in case of an emergency. For those who do not have a CT scan, there are other options. One of the fastest are online loans, in Good Finance, you can compare the best loans in the market.

Own electricity from photovoltaics with a Online Personal loan

The energy transition means that the private expansion of renewable energies is booming more than ever in Germany. The reduction in the feed-in tariff for photovoltaic systems in April 2012 does not change this, either, because the installation of a solar system to generate electricity, whether as a roof system or open space system, is still a real money gift from the state thanks to high subsidies and low Online Personal loans.

Despite the reduction in the feed-in tariff, the private photovoltaic system is one of the fastest amortizing investments, especially as a small system, and is therefore almost a mandatory investment for property owners.

Solar systems are not (yet) cheap …


Even if the mass production of photovoltaic systems keeps lowering the costs for your own solar system, the modules themselves and the installation are unfortunately not yet cheap. As a house builder or property owner, a square meter price of (depending on the region) around 200 – 250 dollars or 1,500 to 1,800 dollars per kWp (kiloWattpeak) must still be expected today.

As a rule of thumb, a family of 4 with average electricity consumption needs a photovoltaic system of 32 sqm for “self-sufficiency” (wants to cover its electricity costs with its own solar cell system), which costs around 6,000 to 8,000 dollars. If you want to make real money with your solar system by feeding it into the power grid, you have to expect significantly more costs.

With an average usable roof area of ​​110 sqm for a single-family house with a gable roof with a living space of 120 sqm, after deducting useless areas, costs of up to 16,000 dollars can be incurred for a complete expansion with a solar system.

Despite the high amortization rate thanks to the feed-in tariff – a roof solar system (depending on the location) paid for itself after an average of 11 – 14 years, but the remuneration is guaranteed for at least 20 years – the state promotes investment in a photovoltaic system also with low-interest Online Personal loans.

Advantages of a Good Credit photovoltaic loan

Advantages of a Good Credit photovoltaic loan

Favorable interest and repayment-free time

The advantage: Online Personal loans not only run for a very long time and are therefore not only cheap in terms of interest, so only 3.95% effective interest is due for a Good Credit solar loan, but can even be made repayment-free for up to 2 years. This is particularly interesting if you have to build yourself with a building loan, still have to make a high initial repayment and can use every financial freedom.

With a Good Credit loan for solar funding, almost no equity has to be provided – it is therefore 100% financing – but: only for the net portion! Since VAT is generally reimbursed, see below, the VAT due cannot be financed by Good Credit.

Another plus for Good Credit credit: If you choose a photovoltaic system to generate electricity, you will also become an “energy entrepreneur”, which means you can register a business and all the costs associated with installing and purchasing the system Deduct tax and reduce your profit (and thus your taxable income). This means that a solar system not only saves taxes but depending on your financial requirements, it can help you save even more taxes.

Pay attention to a tax refund – action necessary!

Pay attention to tax refund - action necessary!

In addition, the input tax (VAT), which was incurred in connection with the installation (solar modules, handicrafts), can also be reimbursed by the tax office as an entrepreneur. However, the money should not be immediately spent again, but either saved in order to give yourself some financial space, e.g. For example, to indirectly extend the 2-year repayment-free period vis-à-vis Good Credit until “you have to pay” or use it for special repayment of the building finance.

Important: Of course, there is only money back from the tax office if you take care of it! Because the tax office only requires a business registration for a solar system with a size of more than 30 square meters. In addition, the sales tax is only reimbursed if you oppose the small business regulation, which is exempt from sales tax (also for the tax office).

A disadvantage here is that a monthly sales tax pre-registration is required within the first 2 years – only then can you choose the period more generously if you had to pay less than 6136 dollars in taxes per year (which is the rule for roof systems). By the way, there is no need for extensive bookkeeping – a simple statement of income/expenditure in the tax return is sufficient.

Despite Good Credit credit, further funding is still possible

In addition to the Good Credit loan, other solar subsidies that do not have to be repaid can also be used. Of course, this means that the Good Credit loan can be made less high and therefore even cheaper – and the solar system pays off even faster!

But: depending on the funding, you should inquire in advance whether or not they are compatible with a Good Credit loan. Many, including state, grants are tied to the fact that no Good Credit loan is used.

Good Credit is a subordinated debtor

With a Good Credit loan for a solar system, Good Credit must also be entered as a debtor in the land register (which causes costs), but Good Credit is only a subordinated debtor there. Any existing loan agreements are usually not endangered or maybe more expensive – however, you should always consult the creditor bank beforehand.

Disadvantages of a Good Credit photovoltaic loan

Disadvantages of a Good Credit photovoltaic loan

Special repayment – problematic

However, a Good Credit loan for solar funding also has disadvantages – for a Good Credit loan, a special repayment during the fixed interest period is generally not possible, for the unscheduled repayment plus a prepayment penalty is due. A special repayment can only be made as part of follow-up financing once the fixed interest rate has expired, usually 10 years.

The lack of a special repayment is problematic if one should find out during the term that the repayment rate was chosen too carefully and one could have paid off more and the loan was, therefore, more expensive than necessary due to the longer term. By paying a prepayment penalty, unscheduled repayments are not particularly attractive.

Although an average annual repayment of 8% makes special repayments almost superfluous, most Good Credit customers set the lowest possible rate of 3 – 5%, also because of the cheap Good Credit loan, and prefer the generally more expensive bank loan for them Home finance serviced.

The only advantage: The annual interest costs, which of course are higher with a low repayment rate, can be brought in as a loss and thus reduce the taxable profit if you have registered business or have been classified as a business by the tax office.

Net funding and commitment interest

A Good Credit loan for renewable energies is only available as net financing since you can finally have the VAT refunded by the tax office (see above). This means that the VAT has to be interpreted until the refund (usually 2 – 3 weeks) or that a short-term loan has to be used.

A Good Credit loan is also not exempt from commitment interest! At around 0.25% per month, i.e. 3% per year, these are anything but low.

Good Credit loan or normal bank loan?

A Good Credit loan, especially a Good Credit loan for renewable energies, is often the cheapest way to finance a photovoltaic system – but a market comparison is still worthwhile! For example, many banks, especially regional banks, often offer slightly lower-interest loans on the same terms (repayment-free period, fixed interest rates), since they have to “pass-through” Online Personal loans, but they have no profit and only expenditure.

In addition, they often offer full financing, that is, including VAT, with the option of making a high special repayment right from the start (the “advanced” VAT) in order to reduce the credit costs, because, see above, the repayment of the loan by the photovoltaic system and the high feed-in tariff is usually more than secure, as well as the possibility of a special repayment. A precise comparison can be worthwhile here!

How to get a Loan for freelancers?

When granting a loan for freelancers, the banks look closely: can the applicant afford the financing? Is there an increased risk that the installments will not be paid on time? We will find the provider for whom you have the best prospects – free of charge and without obligation. Who actually writes and advises here? About us.

This is a loan for freelancers


Banks often classify a loan for freelancers similar to financing for private individuals, because freelancers only have to pay income tax – just like private employees.

On the other hand, there are advantages in terms of the probability of acceptance: the banks know about the financial peculiarities of freelancers and have tailored their acceptance criteria to this target group. Your advantages with

✔ Optimal market overview
✔ Sound specialist advice: we take the time for you!
✔ Non-binding and free use of the credit comparison Please note: A loan for freelancers is only granted by the banks if they have the appropriate creditworthiness. If you fear problems at this point, you can use the comparison calculator above and provide your information – free of charge and without obligation.

A credit specialist from our cooperation partner smava will then contact you and, if necessary, suggest an offer that increases the chances of approval. Freelancer or self-employed? A self-employed person can either work as a freelancer or as a trader. “Self-employed” is therefore a generic term, which also includes the freelancer.

Legislators attribute “special professional qualifications” to the trader, as well as the provision of “higher quality” services. He has to pay trade tax while the freelancer only has to pay income tax.

A self-employed engineer with appropriate professional training is often classified as a trader. Freelance work includes, for example, self-employed scientific, artistic, writing or engineering activities.

As a rule, the tax office decides whether someone is to be classified as a trader or as a freelancer. (If necessary, also note the credit for self-employed.)

Apply for a freelance loan in three steps

Apply for a freelance loan in three steps

In three simple steps, freelancers apply for financing via Good Finance.

1. View offers, provide information

2. Choose a loan, check the selection together with a loan specialist

3. Submit documents, register receipt of payment

Step 1: Enter the desired loan amount, the desired loan term and the purpose. You will then see a first overview of the market. In order to receive offers that you can actually get under the conditions mentioned, you must provide your personal information in the following application process. This is necessary because many loans are granted depending on creditworthiness. Without the information, the credit rating cannot be determined.

Step 2: In the second step you will receive concrete offers that you can receive on the terms mentioned. A credit specialist will then contact you by phone to a) discuss the necessary documents with you and b) suggest an even cheaper financing if necessary.

Step 3: Once you have decided on an offer, submit the necessary documents to the bank. B. a post office the correctness of your information (via the so-called PostIdent procedure) and expect the receipt of payment to the account you specified.

This is why freelancers have problems getting a loan

This is why freelancers have problems getting a loan

Before banks approve financing, bank employees try to determine as accurately as possible whether the borrower is able and willing to pay the monthly loan installments on time and in full.

The borrower is “able” if he has sufficient financial means not only to pay the loan installments but also to meet all other obligations.

Whether the borrower is “willing” is determined based on his payment history in the past. If he has always paid his bills on time and in full, this is an indication that he will continue to pay his liabilities in accordance with the contract.

However, freelancers have to deal with irregular incoming payments: their customers sometimes only pay their bills late or in installments. This is a problem for the approval of a loan, because the verifiable income is decisive for the approval of a financing!

If freelancers can show little or no incoming payments, the clerks of the banks initially assume that the borrower will not be able to pay the loan installments – even though the order books may be full. The advantage of target group-specific loans The banks that offer a freelance loan know that your customers are dealing with this situation. This is taken into account when approving financing – of course in favor of the borrowers.

You should pay attention to this before borrowing

The banks check the creditworthiness with the help of Schufa, Germany’s largest credit agency. Schufa determines a so-called Schufa score for every consumer and every self-employed person in order to summarize the creditworthiness in a single value. This score is composed, among other things, of parameters that the borrower can influence.

Before applying for a freelance loan, applicants can review whether you can improve their credit rating.

Improve creditworthiness

  • Repay current loans – If loans that have already been applied for are repaid, this increases the monthly disposable income on the one hand and signals to the bank on the other hand that financial obligations are handled with care.
  • Avoid disposition credit – If the overdraft facility is used regularly, the bank or the credit agency suspects that the financial means are often insufficient to meet everyday obligations. In addition, the use of overdraft facilities can also be understood as an indication that the applicant treats his financial budget rather carelessly.
  • Avoid credit cards – Anyone who owns more than one credit card – and has several or possibly all open payment obligations – is suspected of being rejected more often when making credit inquiries. Background: Credit cards are usually quite expensive and are only used in urgent cases – for example, when banks have refused a loan.
  • Settling open bills – Many open bills or late payments are seen as an indication of poor payment behavior.

Creditworthiness can determine the amount of interest! Please note: Many types of financing depend on creditworthiness. This means that the amount of the loan interest depends on the creditworthiness of the applicant. The following applies to these offers: the better the creditworthiness, the cheaper the loan.