Loans for young applicants online: guide and information


There are young online loans that fit business or personal needs of students and those seeking their first job? And, if so, what are the best products and how can they be obtained?

Because online loans are popular among young people

It is not a mystery that for a young person to have access to loans and other credit instruments may not be easy. In a few cases, in fact, it has a fixed pay slip or a demonstrable income that can be used as a guarantee. Neither that of a parent’s surety is a solution that is always practicable or accepted by the banks.

Of course, there are measures such as loans to young entrepreneurs for new businesses or Youth Guarantee loans which are part of public measures aimed at fostering entrepreneurship and youth employment and, precisely for this reason, they use the discriminating age in the opposite way to how they make banks – and, that is, rewarding those with fewer years and the most interesting business idea. They are measures, however, finalized and destined to the creation of a company – whatever its form, its size and its sector of activity – and cannot have, that is, the value of a personal loan, besides contemplating in the greater part of the cases requirements, characteristics and very stringent clauses to be respected.

In short, it is easy to understand why online loans are among the most popular forms and credit institutions among young people.

Who delivers young loans online

Before delving into the reason for this phenomenon, it is worthwhile, however, to make a first distinction between distinction

  • young online loans granted by traditional banks
  • and online loans by exclusively digital operators .

Traditional bank loans granted online

In the first case, it is literally the 2.0 version of the more traditional bank loans for young people. Digitization has not spared, in fact, not even the world of finance and most traditional banks allow, by now, to access their services through simplified procedures and to perform them directly from the home PC or from the screen of their smartphone. Not infrequently, among other things, special discounts and offers are available for those who use home banking and loans are not excluded in this sense.

It is not a mystery, however, that banks have very few proposals for young people without guarantees. In most cases these are small loans , which cover a paltry sum. It is not uncommon, then, that even when it comes to online loans, if there is no guarantee of a pay slip or a demonstrable fixed income, clauses such as the appointment of a guarantor, which is almost always a parent, are required.

The first online operators who offer loans to young people

On the other hand, there are several young online loans granted by individuals – and they are many now – operating exclusively online. The main advantage of these tools is not only that they provide more accessible conditions even to those who have no particular credit guarantees, such as a young man without a job, but also and above all that involve subsidized rates compared to the average of loans granted by physical subjects. Simplifying a lot, in fact, for a digital operator only, costs are reduced, such as management costs, for example, and this means that even the conditions offered to the end user can be more advantageous.

In this perspective, it is not difficult to understand why the offer of young online loans is wider and more diversified than that offered by traditional and physical subjects of finance. Although this category of customers always remains at risk , in fact, in this case the costs are lower and such as to allow us to offer better and more advantageous conditions for the end customer. In more concrete terms? This means that, although these are still personal loans for small amounts, the rates are more subsidized and the maximum payable is higher for example.

Advantages and disadvantages of young online loans

Regardless of who delivers them, however, online loans have some other features that make them the ideal solution for young people.

  • First of all they are flexible , that is they allow you to choose the amount that best suits the needs of the individual.
  • In most cases they do not require guarantees , nor do they have clauses concerning the way in which the amount disbursed will be used.
  • They have short periods of time: from the moment in which the request for a young online loan is made to the moment in which it is actually disbursed, the sum can elapse, that is, a really limited period of time, in contrast to the months normally required by the banks.
  • They are comfortable because, as already mentioned, they can be requested simply with a click and without moving from home.

As already mentioned, among other things, the number of subjects who grant loans to young people online is now truly vast. However, quantity is not always synonymous with quality and, for this reason, it would be good to consider several factors before applying for a loan online.

If you do not address the right reality, in fact, the risk of running into scams and scams is really concrete and, especially for a young person, this can be a great difficulty. The best idea is, therefore, to rely on subjects well known in the sector: in Italy, as in any other country, there are historical names in this sense and that they have gained a credibility in the field that has nothing to envy to that of more traditional subjects of finance (banks, credit institutions, etc.). Alternatively, it is worthwhile to accept advice and recommendations from friends and acquaintances who have already tried a loan solution online. In extremis, reading opinions and reviews that are easily found online is a good way to make sure that the conditions declared by each operator for online loans are real and, more generally, the satisfaction of those who have tried every single solution. In short, the watchword is awareness.

How to apply for a youth loan online

online loan

This may mean, among other things, that once you have chosen who you will rely on for your online loan, you will take the time to verify that the solutions proposed are actually the most suitable for your needs. In this sense, what can be done when asking for loans online, and that is not always possible when people like banks and traditional credit institutions are contacted, is to use the appropriate loan simulation tools. They are small applications, really easy to use, that once set personal parameters – such as the amount you want to borrow, amortization time, etc. – give an overview of the solution and provide rather strategic information for the customer such as the rates that will be applied, the warranty window, etc.

It is worth emphasizing, in this sense and for the sake of clarity, that young online loans generally guarantee subsidized rates in all their components. If one digs well between the offers of online operators, even it is not uncommon to run into loans for young people with zero interest.

Once the simulation has been carried out

And fully satisfied by this – in any case the next step to request young online loans is to fill in a special form and wait for the time necessary for it to be paid directly into your account. As mentioned, the times are typically shorter than those required by an individual bank and subjects such as traditional lenders: for evaluation it is sufficient in general twenty-four hours from the time of application and the ‘supply – which can take place in a ‘only solution or more commonly in different tranches – it is generally carried out within a few days.

Not a few offers provide, among other things, for those who ask for young online loans to be provided with a sort of financial tutoring , especially if it is not a personal loan but a loan aimed at achieving a business objective. It goes without saying, in fact, that those who are still studying or have just entered the world of work may not have a solid knowledge of the financial world and need, for this, a guide that allows them to achieve their goals. In this sense, once again, online loans for young people prove to be very flexible: they are, in fact, as much a measure of young entrepreneurs with an idea of ​​business to develop, as of students who need a boost for their own university or training career such as that guaranteed by a loan of honor. And they are so not only by virtue of the financial specifications but also by virtue of the advice they make available.

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