How to Borrow Alone?



Depending on your financial situation and the funding sought, borrowing alone is possible provided you can prove to the bank that the loan has been repaid. For this, the future borrower must have several elements ensuring fixed income but also must not be excessively indebted. Therefore, how to prove to the bank the solidity of its situation to borrow alone?

Is borrowing alone difficult?

Is borrowing alone difficult?Is borrowing alone difficult?


Depending on the project, a single person may be able to borrow from a banking organization if they have the resources necessary to repay it.

More specifically, the bank will above all ensure that the borrower has a stable financial situation and that the latter is not excessively indebted. This person must also obtain fixed income over the long term, through an employment contract or any other activity providing income.

If the borrower already has one or more credits in the process of being repaid, obtaining financing can be more difficult since monthly payments have to be made, which reduces the debt capacity.

Subsequently, the bank will analyze the borrower’s file in order to assess the possible risks of default and judge whether the guarantees provided (contribution, employment contract, insurance) can give effect to the authorization of financing.

Obtain a bond or favor the co-borrower?

Obtain a bond or favor the co-borrower?


In some cases, depending on the project and the amount of it, the bank may ask the borrower for additional collateral in the form of a guarantor.

In fact, a guarantor acts as the second person responsible for the loan and honors the monthly payments of the borrower in the event of default by the latter. However, this guarantee can also be in the form of a guarantee taken out with a specialized organization and allows the principal borrowed to be repaid if the borrower is no longer able to repay his credit.

Also, additional insurance may be requested by the bank if the borrower’s financial situation presents some risks or if the latter is suffering from an illness.

Consequently, borrowing for a single person is possible on the condition of preparing the financing of their project beforehand, but also on the condition of being able to repay the loan taken out.

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