DENMARK PRIVATE LOAN
In Denmark, private borrowing is a new way to obtain cash for Danish consumers and entrepreneurs to satisfy their urgent financial needs without using the classical lending road provided by classical banks.
In Denmark, a private loan has the objective to help a Danish private borrower to get access to funds without facing obstacles particularly if the borrower is suffering under a bad credit score with risk to get a bank refusal.
In Denmark, a large number of peer-to-peer lending platforms have emerged and are becoming a serious competitor for banks discouraging borrowers through bureaucratic obstacles and lack of business understanding.
In Denmark however private borrowing can also become a nightmare for naive private borrowers who accept to pay and fee or advance without obtaining a guarantee that the private loan would be paid out.