Up to the turn of the millennium, very few people qualified for a bank loan. Bank loans, no matter what it was being sought for and banks still ask such questions; what do you intend to use the loan amount for, required a form of security or collateral. It was not a bad system to have in place because the banks were reducing the risk they were exposing themselves to quite considerably. But over the years, the banks lost out. They were missing the market. Not many people were coming through their doors because, quite frankly, they did not have that all-important roof over their heads.
Yes, they did have a secure place to stay, but these were rented tenements and thus did not qualify as security for the requested loan, never mind that there was already a good record of regular and on-time payment of the rent to consider. This against the many bank clients who were defaulting on the home loans that were originally granted to ‘credit-worthy’ customers. Many of the rejected clients were also bereft. The truly bereft had no choice but to turn to illegal or unauthorized lenders who are known to the English-speaking world as loan sharks.
And then the floodgates opened. The less said on that risky spectacle, the better. Many of you reading this right now are still feeling the pinch from the consequences of reckless lending practices and equally irresponsible credit management bereft of any form of budgeting on the part of banks and consumers respectively. And then the Great Recession happened. Fortunately, it did not take long for the wheels to be put back on again. Banks, businesses and governments, including those of Finland, Iceland and most of the European Union, all rallied together to repair the damage.
There was also an awareness to keep economies growing and in order to do this, those previously excluded from loan opportunities needed to be considered. While banks were understandably reluctant to bend, progress-minded entrepreneurs came to the party with user-friendly and consumer friendly vakuudettomat 1500e lainat. If you are fully resident in Finland and any of the member countries of the European Union, then you are eligible for such a loan. If you are recently accommodated in any of the countries, all you need to do is ensure that your documentation is in good, legal order.
This is a great opportunity for recently settled migrants! The Germans are doing it, and the Scandinavians have been doing it for a while. So-called bricks and mortar opportunities continue to be provided for migrants to start up their own businesses in the towns where they have just settled. Those who do not have artisanal skills but are ensconced professionally, so to speak, can now avail themselves to new higher learning opportunities at any one of the fine institutions around the continent. Learning the academic language poses no problems going forward, because learning the local language is, in any case, important criteria for becoming permanent settled.