# Getting a loan?



## Earnie (Nov 3, 2010)

Looking at getting a loan of around 10,000 Euros maybe a bit more. Any ideas on where best to look for one? Banks, online? We live in Spain.


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## xabiaxica (Jun 23, 2009)

Earnie said:


> Looking at getting a loan of around 10,000 Euros maybe a bit more. Any ideas on where best to look for one? Banks, online? We live in Spain.


I doubt if anything has changed much since you last asked this

http://www.expatforum.com/expats/spain-expat-forum-expats-living-spain/88796-getting-loan-spain-banks-etc.html

if anything it will be harder now


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## Solwriter (Jan 10, 2012)

How long have you lived in Spain? Do you own property? And do you have a Spanish bank account?
I ask because it is still possible to get a personal loan with the larger banks, if you have been a customer for at least one year, have a good relationship with your bank manager, if your existing account shows sufficient funds going in each month to make repayments, and if you can show you have sufficient assets.

I know this because we recently had to take out a bank loan to purchase a car.
At first, our bank tried to get us to take out a mortgage with them, but when we said no, they offered us a personal loan instead.
Interest rates on personal loans are high (and will vary according to the day you take out the loan), but worth it if you really need that 10,000 euros.
It also seems as if the availability of loans to bank customers is determined by which branch of the bank you are with and who is your bank manager. Some appear more willing to help than others (or perhaps it is because some get better commission rates for giving loans).


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## xicoalc (Apr 20, 2010)

My mother in law recently needed a loan short term until some money came through and she went into one of her banks (Bankinter) and they immediately offered her it with not even asking questions abotu income etc… probably because she has been there with them years. I think as Solwriter has said it is possible with larger banks to get a loan but like in the UK it depends on yoru situation. If you have been with them a long time, good record with them and regular income with surplus to demonstrate you can repay it (or a restructure plan to show that borrowing it will reduce outgoings) then its possible.. without this though they are more likely to say no.

If you are self employed as you seem to be from yoru last post then expect to be asked for a couple of years accounting records, bank statements for the business account, and maybe an accountants reference also… they are far more warey with businesses.

You mentioned in last post you went to Bancaja… the Caja banks have had a rough time and are more cautious about lending… the big banks like Sabadell, BBVA etc are more open to proposals as they are more stable but obviously no history with them wont really go in your favour.

In the UK it doesnt matter who you bank with, you can go anywhere and they access your national credit files and decide.. Here they are far more "old fashioned" and the time with the bank and yoru history with that bank lends a lot of weight to your application .


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