This loan is an instant loan that is processed through a quick credit check in real time. A credit search engine ensures that the various credit providers offer a comprehensive comparison before the five-minute period expires. Once the right choice has been made, the loan comparison calculator goes straight to the application.
Since an online loan application is by no means a complex data set and usually everyone knows their most important key data, it is possible to fill out the application in a few minutes. The application will be sent to the credit provider immediately after all entries have been made.
Real-time credit check
Carrying out the credit check automatically allows the standardization of the check procedures in this case. Based on the data entered, the program checks in real time whether it is fundamentally possible to grant loans under these conditions. This makes it possible to apply for a loan in less than 5 minutes and get it approved.
The loan in 5 minutes and credit problems
Loans can only be obtained to a limited extent in the case of creditworthiness problems if application procedures, such as the instant loan with a credit check, are used in real time. It is also equally possible to apply for loans without credit rating quickly, but the credit check with a realistic positive result is rather mutually exclusive. This is mainly due to the fact that the loan without credit rating is not yet decided in a fully automated process.
Options that exclude 5 minute credits
There is also a procedure through credit intermediaries, which differs from the credit offer of a direct bank. So it is not the credit intermediary who decides on the lending, but the data is only transmitted to a correspondence provider. According to their own verification procedures, which usually take some time, each of these credit providers checks the loan request itself. The loan offers or the rejection are then sent to the credit intermediary, who in turn informs the client of this.
Unfortunately, it is completely impossible to get a loan from private donors in 5 minutes. This is because the chance for private lending lies in the detailed description of the living situation and the desired loan. It would not even be possible for a professional journalist to find the right words within 5 minutes.