Many companies employ staff from temporary employment agencies. This saves you the incidental wage costs yourself and you do not have to pay holiday pay or Christmas bonus. This item of personnel costs is already noticeable, even if the temporary employment agency demands a high hourly wage. For the employee, working in a temporary employment agency means a permanent job, which also affects a loan approval. In contrast to temporary contracts, temporary work is not limited.
Loan with temporary work
Many employment relationships have arisen from a temporary employment relationship. It is not uncommon for temporary workers to be recruited from the companies they once helped out with. The temporary employment agency can also prove to be a career springboard for employees. Temporary work is not a problem for the banks. It is a job like any other, only that the area of application can change constantly. The bank doesn’t care. What is important is the unsigned employment relationship, everything else is of no interest.
The income situation is important for a loan approval. It must be ensured that the borrower can also afford it based on his salary or wages. The bank therefore compares the income and expenditure and checks whether, after deducting all monthly expenses and the installments for the loan, there is still money left to make a living. If this is not the case, a credit refusal can occur despite a good credit rating.
If the temporary work is only limited
Unfortunately there are also temporary employment agencies that only hire their employees for a limited time. If the work in the loaned company is completed, the temporary employment contract also ends. In these difficult circumstances, a loan with temporary work is not possible, because many of those affected are back on the street afterwards. A temporary agency loan is only possible with an open-ended employment contract and after the end of the trial period.
Where can I get a temporary agency loan?
In addition to the classic models via branch banks or online banks, there is also the Smava portal. It is an association of private individuals who lend money. The interest is then your profit. Here it is entirely possible that a temporary worker with a fixed-term contract will receive a small loan, which must be repaid within the limited employment relationship. An inquiry is free of charge.