Social lending

Social loans can be granted for

- purchases for home
- rent deposit and back rent
- arranging other loans and debts
- other expenditure necessary for independent living.

Social lending terms and conditions

- The loan is 200-10,000 euros.
- The maximum repayment period is five years.
- All debts and liabilities of the applicant are taken into account in the decision.
- With the applicant's consent, a voluntary payment default entry may be made in the credit information register for the duration of the repayment period in order to prevent further indebtedness.

Conditions for obtaining a loan

- The applicant must be able to repay the loan within five years.
- The need for loan and the total debt of the applicant must not exceed 10,000 euros.
- The applicant's financial situation must be stable.

Grounds for rejecting the application

- The need for loan or the total debt of the applicant exceeds 10,000 euros.
- The funds available to the applicant are not sufficient to repay the loan.
- The applicant's income or expenses are not stable.
- The applicant is moving out of the wellbeing services county.
- The applicant has access to other forms of credit on reasonable terms in the normal credit market.
- The applicant can save the amount of loan needed within a reasonable period of time.
- The applicant has realisable assets that do not belong to their basic necessities.

Social loans are not granted to repay a personal debt arrangement, an arrangement loan guarantee from the Guarantee Foundation or other social loan granted by a municipality/wellbeing services county.