Why does the individual credit loan limit fluctuate?
The Good lender short-term loan is a practical interim financing only until the next receipt of money with a term of regular 30 days. Good lender is the first provider of this form of credit in Germany. In order to guarantee a fully regulated loan offer in Germany, Good lender AG has been cooperating since 2013 with net-m privatbank 1891 AG, which has a full bank license. In order to maintain a trusting relationship with our clients and our bank, our system constantly updates on the basis of various data which loan sums, at which terms, for which loan request are the most optimal, so as not to create a disadvantage for the customer or the bank.
Borrowing money, yes, but with responsibility
First-time customers can borrow a maximum of € 500 from Good lender. In the further events, so with further loan applications of the customer, it is possible that, after punctual repayment of the Bank, the loan amount increases.
However, increasing the credit limit is neither a continuous process nor a guarantee of ever-increasing credit sums. Our algorithm automatically rechecks the loan request and credit situation for each new request from the borrower. This is done with the help of various, it’s updated, data points.
In addition, the repayment patterns of thousands of other customers are included. For example, the loan sums that the algorithm recommends can fluctuate monthly. Stands there is responsibility in the foreground. Our short term loan must be repaid in 30 days.
Because the stated goal of the Good lender mini loan is that customers do not overcharge and they do not suffer any disadvantage. Because it must be remembered that the short-term loan must be repaid after 30 days, since it is not a conventional, long-term installment loan.
Good lender’s short-term loan is a short-term, credit-limited solution
Please do not understand our credit as a permanent facility such as a discretionary credit. The strength of our short-term credit is that it is only used for a short time and therefore does not bind itself too long.
Summarized briefly all information:
The short term credit from Good lender is:
- No permanent equipment
- Does not necessarily increase
- Must be repaid after 30 days
- Helps briefly until the next cash receipt
- That means borrowing responsible money
- Is not consumer credit
- Is not a classic installment loan
Good lender will help you to balance an unexpected financial gap, giving you the flexibility and independence you need until the next time you receive your money. But only under the condition of mutual responsibility.