Spin Lender leads private loans in Spain for having a wide portfolio of private lenders that adapts to the needs of all applicants.
History of private loans in Spain
The 2008 credit crisis changed the credit, banking and financial landscape in Spain and around the world. We went from a total credit opening, with the banking sector ready to grant loans to almost any person or company, to see the tap of financing closed almost automatically. Also for investors the blow was hard, as they saw the performance of bank products fall due to an unstoppable drop in interest rates. In this scenario of lack of financing for families and businesses and lack of performance of financial products for savers and investors, private loans appeared in Spain.
Private loans in Spain with private investors
Investors who did not get a return on their savings from bank products became lenders to families and businesses that were rejected by banks. This is how both parties came out winning and this is how private loans appeared in Spain. Spin Lender is in charge of connecting both parties, studying the applications for private loans in Spain that come to us online completely telematically and in less than 72 hours.
Conditions of our private loans
Spin Lender manages and studies financing applications only if the applicant meets the following two requirements:
- Have a real estate property in your name. It can be any type of property: warehouse, apartment, house, apartment, premises. We need to protect the interests of the provider and that property will be the guarantee. We will assess it independently to know the maximum amount that we can grant you (normally 30% of the total).
- Order more than $ 20,000. For amounts less than this figure, all the study and opening of private loan lines in Spain are not profitable for Spin Lender
Characteristics of our private loans in Spain
We work within the entire Spanish territory, regardless of the geographical area where the applicant is.
We are not a fast-use credit company, which delivers the money to the checking account without asking questions and then demands abusive interest, but in addition to requesting certain guarantees from the claimant, we also do everything possible to facilitate the repayment of the loan.
Our work method and structure of decentralized consultants allows us to work as follows:
- The applicant, if his loan application is approved, can sign it before the notary of the autonomous community and city that he chooses.
- We advise the applicant on the best way and the most comfortable terms of return based on their ability to pay, although he always has the last word. You can choose installment, payments and type of amortization.
- We are regulated by the Ministry of Consumer Affairs under the regulations that regulate loans between individuals. No cheating or cardboard.