Getting a loan without a Credit bureau entry for trainees is generally not easy. The main reason is that trainees earn very little and have no guarantee that they will be taken on by their company after completing their training. Only if a takeover can be guaranteed in writing can the bank or the private lender possibly be persuaded with the consequence that a loan can be approved for trainees without a Credit bureau entry.
However, if the lender is a bank, it should not be based in Germany. Without exception, all banks and savings banks there require positive or neutral Credit bureau information. Otherwise, lending is generally excluded.
If, despite all the difficulties, a suitable lender is found, lending can usually only be realized if the requested loan amount is very small and only includes a few hundred or a few thousand USD. The amount of money that is actually possible always depends on the amount of the training allowance and other collateral.
A trainee who can find a co-applicant or a guarantor who ideally comes from his own family will find it much easier than a trainee who cannot provide such security. The term should not be too long for a loan without a Credit bureau entry for trainees and the monthly repayment rate should not be too high.
Otherwise, it can very quickly happen that the trainee gets serious difficulties, which can go as far as the termination of the loan, with the consequence that the entire loan amount must be repaid in one amount.
If the trainee needs a larger amount of money to make a purchase, to finance his first home furnishing or his driving license, there may also be a person from his own family or friends who agrees to it, a loan without Credit bureau Assign entry for trainees.
Such a loan can be repaid very flexibly. Under certain circumstances, an agreement can be reached that the trainee will only repay the loan once he has found a steady job and is earning accordingly well.