loan from a private individual
The advantage of borrowing from a private individual is that no BKR assessment takes place and the interest will usually be reasonable. If you borrow from family or a friend, you must of course be sure that you can pay back. This is a danger of borrowing from a family member or friend; an unpaid loan can totally ruin the relationship. It is important that everything is put on paper and signed by both parties. Even if you know each other so well.
Usually, a private loan involves larger amounts than a mini loan. The terms and conditions of the loan, the term and the amount of the repayment are stated in the contract. If the loan is immediately due and payable, a market interest rate must be calculated from the tax authorities. Also, the interest may not be too low, because then the tax authorities will see this (when reporting) as a donation.
The lender should carefully consider whether the borrower will be able to repay. Someone who already has a lot of money problems is probably less likely to pay back than an unemployed family member who is waiting for unemployment benefits. Model contracts for a loan to a private individual can be found on the internet. Until 2013, the contract could also be registered with the tax authorities, but that is no longer possible. The tax authorities only register contracts that must be registered, such as cases with a right of pledge. The agreements can still be registered with the notary.
Borrow money without BKR
If there are no options to borrow money from a bank, there are a number of other options for obtaining money. The first is to go to a pawn shop. Valuables (car, jewelery) can be loaned with the option to buy it back.
A second option is to take out a mini loan via the internet. The interest on a mini loan is just as high as with a mail order company. What makes the loan a lot more expensive are the service costs. With a mini loan you pay surcharges if you want to have money immediately and want to submit a simple application without many formalities.
Borrow money from a private person
A third option is to borrow money from a private individual; this can be an acquaintance, family or friend. This construction is also called a private loan. Because you know each other, the interest can be low. Mutual trust must of course be present and should certainly not be ashamed.