Spin Lender operates within the alternative financing market through private lenders. We are specialized in private loans without paying in advance. Contact us without obligation if you cannot go to a bank to obtain financing and we will advise you on the private loan options without paying in advance that we have.
Private loans without paying in advance
In none of the loans that we open in Spin Lender the client has to pay or advance any money, neither during the study phase nor during the opening phase.
Our operation ensures that the client receives their money in their checking account on average in 5 business days. Below we will describe how we manage to open lines of financing for individuals and companies without having to advance any money.
Spin Lender has a team relocated throughout the Spanish territory that responds to requests in less than 24 hours and if the request meets the requirements, we automatically move it to the study and opening phase.
In order for our clients to have access to private loans without paying in advance, they have to meet all the mandatory requirements.
Access requirements to our private loans without paying in advance
Spin Lender has developed an operation that allows our applicants to not have to advance any expense in order to receive their loan. For this to be possible, all applications must meet two mandatory requirements.
Owning a property
Private unpaid loans from Spin Lender are home equity loans. This means that all loans are guaranteed by real estate.
At Spin Lender we accept any type of real estate as collateral: apartments, apartments, commercial premises, hotels, warehouses, garages.
We only need to carry out an independent appraisal to determine the value of the property and to be sent a simple note from the Property Registry where the name of the owner and the details of the property appear.
The appraised value will determine the maximum amount that we can deliver as a loan: a maximum of 30% of the appraised value.
Request a minimum of $ 20,000
This is the key that allows us to differentiate ourselves from our competition in a clear way. By making our private loans without paying in advance a minimum amount of $ 20,000, we ensure that all the expenses generated during the study and opening phases (independent professional fees, consultancies, agencies, taxes and fees) can be prorated together with the initial loan amount.
This minimum amount also allows us to keep the interest rate on our loans at a much lower percentage compared to our competition. All of our loans have an interest rate that ranges between 9% and 12%.
Total return flexibility
Spin Lender leaves it to the client to choose the terms and conditions for the return of their loan. The applicant can choose each and every one of the characteristics that make up the return of his loan:
- You can choose the duration, from 1 to 10 years
- You can choose the type of amortization, French or American
- You can choose the recurrence of payments: monthly, quarterly or semi-annually
- If your financial profile allows it, we can grant you a grace period
- In addition, we make available to the applicant a personal advisor who will answer any questions you have throughout the duration of the loan.
This great flexibility and careful customer service allows us to proudly state that since we started our activity we have never had to execute any guarantee due to non-payment. All of our unpaid private loans have been successfully repaid.