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Credit for modernization – bring new shine to old walls.

At some point it just happens. The traces of age can no longer be overlooked. Be it in the IT system of his private home or in the company or in the thermal insulation of real estate or in the machines with which his own company produces.

At this moment, banks are standing close to their customers and have a loan for modernization on offer. This is a dedicated loan that can only be used for the modernization work. However, the procurement guidelines for entrepreneurs and private individuals are very different.

Loan for the modernization of a company

Loan for the modernization of a company

Entrepreneurs get a loan for modernization much easier than individuals. The reason for this is simple: on the one hand, the modernization increases the value of the company’s facilities and thus creates new security, on the other hand, the modernization also means a financial advantage for the entrepreneur, since from now on he will again look after his customers in a timely manner and can produce more.

Of course, an entrepreneur must also have the necessary credit rating, which means that he is able to actually repay the loan for the modernization, but usually this is not particularly difficult for him.

Loan for modernization for a private individual

Loan for modernization for a private individual

If you are looking for a loan for the modernization of your own home on a private basis, banks are generally inclined to grant it. Better thermal insulation saves additional costs, for example. If you equip your house with a solar system, you make yourself independent of the public power grids and in all probability you can even earn something. But such a financial added value, as it arises when modernizing a company, does not have modernization of private households.

Sufficient creditworthiness of the borrower is therefore necessary for the lending. This is calculated using the borrower’s income and any old debts that can be determined using the Credit Bureau entry. If these numbers are correct, there is actually nothing standing in the way of the loan. If these numbers are not correct, you should look for opportunities on the Internet to get a loan for the modernization of your own home that has less stringent lending guidelines.

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