Among banking credit products you can meet the loans called blank. It is possible to receive them quickly enough due to the lack of requirement to stand bail, they don’t demand any guarantees from the borrower. But to obtain such credit not each applicant will be allowed.
So, on what conditions it is possible to obtain blank loans?
The bank agrees to such loans when it is rather well familiar with the client and fully trusts him. Besides, you shall be the regular customer of the bank and have in it the deposit. Money, available on the deposit bank account serves, in fact, as the guarantor as they are under control of the bank. Monitoring of this account will allow drawing conclusions on how much it is possible to trust the applicant. Such type of loan was always rather risky for bank therefore the law regulating interaction of bank and client in case of a blank loan was developed in the eighties. This law included the item where it is specified that the bank won’t be able to grant the amount more than one tenth of its financial inventories. The client shall repay such loan within 30 days or provide mortgage property. In case of not observing the repay deadlines the bank can make levy.
Blank loans have a multi-purpose focus and are provided to businessmen with absolutely different levels of the income. Often it is used as a seasonal loan issued on replenishment of current assets. The option when the similar credit is issued by foreign banks is very widespread. The value of an interest rate directly depends on the level of your enterprise. The problem of the similar credit is that the ordinary company almost cannot obtain it.