What options are there to obtain instant cash?
The month is coming to an end and cash in the account is correspondingly tight. Of all times, the washing machine breaks down and the car gives up the ghost. Panic is misplaced in such a situation. There are several options to bridge a temporary financial tight spot with a quick loan: instant cash. On request, also with or without a Schufa entry.
It does not always have to be unexpected expenses such as a car repair or a tax bill that require immediate cash.
Perhaps a rare bargain has come up, for example an antique you can buy at a good price. You naturally do not want to miss such an opportunity. But how do you get instant cash when you need it?
In any case, you should take the time to run the numbers. The seemingly obvious idea of terminating ongoing building savings contracts or cashing in a life insurance policy to get instant cash is usually associated with financial disadvantages.
Calculation of advance or negative interest as well as reclamation of state premium benefits can significantly shrink the hard-earned capital. Taking out a mortgage on your home would generate the urgently needed capital, but the procedure is lengthy and complex, so it is not suitable for immediate capital needs.
Should you tap into savings for instant cash?
Long-term reserves intended for children’s education should preferably not be touched for quickly available funds. If you own mobile assets such as antiques, paintings or valuable carpets, you can temporarily pawn them at a pawnbroker.
However, this also takes time because the valuable items must first be appraised, and the lending limit—the amount we receive in exchange for the pledge—is usually well below the appraised value of the item.
In case of urgent capital needs or the necessity of immediately available cash, obtaining external capital (a loan) from a credit institution or a commercial loan broker is therefore usually the best solution.
Business banks or commercial loan brokers?
Since both loan brokers and credit institutions conduct loan business and thus banking operations, the provisions of the German Banking Act (KWG) generally apply to both. However, it can offer some advantages to consult a professional loan broker for your immediate cash needs.
On the one hand, the conditions are often more favorable than at commercial banks, because loan brokers like MAXDA can usually negotiate excellent loan conditions with credit institutions due to the many customers they bring. On the other hand, commercial banks are generally far less risk-tolerant in retail lending than commercial loan brokers.
Due to the macroeconomic significance of credit institutions and the close interconnectedness of banks, commercial banks are bound by specific legal provisions regarding own funds coverage as well as the procedures for decision-making when granting loans and for loan processing.
Advantages of applying for instant cash through MAXDA
Another advantage of commercial loan brokers like MAXDA, in addition to the absence of purpose restrictions for the borrowed capital, is the possibility of obtaining loans and instant loans even without Schufa if the broker, like MAXDA, specializes in this. The advisor at your house bank will already ask in the first meeting what you need the loan amount for. Providing the reason can only be advantageous for the applicant if the loan is intended for the acquisition of an asset—such as real estate.
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Since assets are classified by banks as valuable and therefore loan-secured, this can increase the chance of a positive loan decision. The situation is more nuanced when immediate cash is needed for a holiday trip.
Banks do not always view the purchase of securities as a safe investment, especially if the securities to be acquired are classified by analysts as risky.
A commercial loan broker, on the other hand, will not ask about the purpose of the loan or instant loan, because for them the main question is whether the loan can reasonably be expected to be repaid without problems.
Requirements for instant cash
As soon as the applicant is employed and the employment relationship is not temporary, obtaining a positive loan decision should therefore not be a problem. Even if these conditions are not met, a loan commitment for instant cash can still be granted if a liquid guarantor is available who can cover the loan payments in case of the borrower’s payment difficulties. Such small loans can then also be granted with or without a Schufa entry.
Experienced loan brokers like MAXDA know the financial institutions they work with well and usually know exactly which bank currently has available excess liquidity. Since a bank’s capital does not lie idle but is intended to earn interest, and credit institutions—despite strict legal requirements—do have some discretion in lending decisions, a bank’s excess liquidity can significantly increase the chance of a positive loan decision.
Discredit and getting instant cash
Another advantage of commercial loan brokers is that they are not connected to the banks’ internal information system. The result of an apparently “non-binding loan discussion” with your house bank is stored in a central database accessible to credit institutions nationwide, which, in the event of a rejection, can affect future credit lines.
By contrast, a conversation with an independent loan broker is truly non-binding; the failure to conclude a loan agreement has no further consequences. Moreover, since there are always corresponding agreements between the financial institution and commercial loan brokers like MAXDA, a positive decision from the broker means you already have the loan or small loan secured and can benefit from prompt payout of the cash—an invaluable advantage for borrowers who need instant cash.
MAXDA - the right partner for fast cash
With us, loan processing is simple and fast; the only requirements are that you are at least 18 years old and have a monthly net income of more than €850. Personal and competent support as well as professional loan processing make us a leading provider of financial services in Germany.
- Since we cooperate with renowned German and European commercial banks, we can offer our customers tailored offers at the best conditions with quick payout to your account!
- Simply send us a copy of your latest salary or pension statement along with the completed loan application for instant cash.
- We will review your application on the same day and contact you immediately to discuss terms and possible loan options.
- We grant loans or instant cash up to €250,000 for any purpose; loans without a Schufa entry can also be granted up to €5,000 with quick payout.
For those who need instant cash or an instant loan or small loan, we provide the loan amount immediately by post or by bank transfer to your account for your use. In any case, you can expect a prompt and professional disbursement. Our friendly staff are available to assist you with any questions and usually find a solution for instant cash or a loan without Schufa even in difficult cases.
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Mini loans, Online loan, Advantages of a loan without Schufa, Cash loan, Installment loan