Loans Without Collateral
By Ustani A
@Charlesbronson (977)
Indonesia
June 3, 2024 6:59pm CST
For the past few days I have been racking my brain to find funding for my friend's growing business. I surfed the internet and found that most banks require collateral to be able to provide loans to borrowers.
According to Mylot friends, is there a bank that can provide loans without collateral from the borrower?
Pic from : Flexiloans
7 people like this
8 responses
@Charlesbronson (977)
• Indonesia
8 Jun 24
It's okay. Btw, How about in Croatia, do you have to have collateral to borrow money from a bank for any purpose?
1 person likes this
@grenery8 (18070)
• Zagreb, Croatia (Hrvatska)
9 Jun 24
@Charlesbronson i think you do and if other party fails you, you have to pay off their debt so many won't say yes to this.
1 person likes this
@Shivram59 (43282)
• India
4 Jun 24
I have no idea about such banks;but our government has lanched a scheme for small businessmen.One may get loan without any guarater and on very little interest.
1 person likes this
@Shivram59 (43282)
• India
5 Jun 24
@Charlesbronson Thanks.This plan is launched by the Modi government.The government wants people to be self employed.Millions of people have started their own business with "Mudra loan" scheme.
1 person likes this
@Charlesbronson (977)
• Indonesia
5 Jun 24
Wow, it's really nice to do business in India. The locals are very lucky!
1 person likes this
@May2k8 (18622)
• Indonesia
5 Jun 24
@Charlesbronson I never know because I never took out a loan.
1 person likes this
@Charlesbronson (977)
• Indonesia
5 Jun 24
Is it true? Are there still banks that can provide loans without collateral?
1 person likes this
@Charlesbronson (977)
• Indonesia
6 Jun 24
@May2k8 Really? How is your business? Don't use banking services?
1 person likes this
@kaylachan (78776)
• Daytona Beach, Florida
4 Jun 24
Not for a business loan that I know of. I've had loans and a mortage before, but my husband and I had good enough credit.
1 person likes this
@Charlesbronson (977)
• Indonesia
5 Jun 24
That sounds good.. Hopefully your finances are always fine
1 person likes this
@kaylachan (78776)
• Daytona Beach, Florida
5 Jun 24
@Charlesbronson Oh, my credit score was shot to hell in a handbasket once, as was my husband's. He actually filed for bankrupsy. That was a painful and long process.
1 person likes this
@Charlesbronson (977)
• Indonesia
6 Jun 24
@kaylachan Oh sorry, I hope you and your husband are healthy..
1 person likes this
@Charlesbronson (977)
• Indonesia
5 Jun 24
Maybe it's like that, right? There's some truth to that.
1 person likes this
@HaruLoid (1588)
• Philippines
6 Jun 24
@Charlesbronson I think so because there are some people who can loan money without the need for anything for collateral, but it usually happens only when the amount being loan is not that big.
@Charlesbronson (977)
• Indonesia
30 May
It's the same as in my country, besides the loan amount being small, if you are late in paying, the borrower will be embarrassed by the lender calling our family and friends and telling them that we are in debt and cannot pay.
@marguicha (227774)
• Chile
4 Jun 24
Banks NEED a collateral if they are going to borrow money. Usually, people are not even willing to lend money to family with no collateral.
1 person likes this
