How to find a credit guarantor

Who is a credit donor

A credit donor is a person who takes out a bank loan in their own name and transfers the money to a third party for a fee. At the same time, the obligations to the creditor are actually fulfilled by the person who ordered the credit donor's services. This third party who applies for a credit donor's services has an official term and is called the recipient.

A credit donor is always an individual, regardless of whether they work independently or through a company. In the first case, the loan agreement is signed with the donor, and in the second case, with the organization providing the service. Either way, the bank's client is always an individual.

The legality of credit donation is a controversial issue. On the one hand, if a borrower takes out a non-targeted loan, they have the right to dispose of the money as they see fit. In other words, such activity is not actually prohibited. However, if the bank suspects the borrower of transferring loan funds to a third party, it may file a petition with the prosecutor's office to verify how the loan funds were spent (if the loan was targeted). If the creditor proves that the loan funds were misused, the donor will bear administrative or criminal liability.

Who needs credit donor services

First of all, credit donor services are aimed at people who, for various reasons, cannot obtain loans from banks and microfinance organizations: due to a poor credit history, lack of employment, or insufficiently high income.

However, a credit donor is not a guarantee that the recipient will receive the money. Although intermediaries are more lenient toward clients than banks, the following categories are very likely to be denied a loan:

• individuals who are not citizens of the Russian Federation;
• individuals who do not have an internal Russian passport;
• individuals with multiple active overdue payments and legal proceedings;
• individuals convicted of serious crimes under the Criminal Code of the Russian Federation;
• people living in regions with low socio-economic conditions.

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Where to find a credit donor

The best option is to look for a credit donor among close acquaintances. This will reduce the risk of fraud to almost zero. In addition, trust in you among your social circle will be higher.

If you cannot get a loan through close acquaintances, you can post ads in relevant thematic communities on social networks. Alternatively, you can look for organizations that offer credit donation services.

How to get a loan through a credit donor

Most often, credit donors do not work with clients directly, but through intermediaries—the organizations they work for. Therefore, the process of obtaining a donor loan is as follows:

• first, the client finds a suitable organization and submits an application for funds;
• next, the borrower undergoes a solvency check and an assessment of the feasibility of cooperation;
• if the client passes the check, the next step is to discuss the terms of the agreement and sign it;
• after signing the agreement, the credit donor applies to the bank for a loan;
• from the loan funds, the donor and the organization retain a portion of the funds to pay for their services (on average about 20-40%);
• next, the organization concludes a loan agreement with the client, according to which the recipient undertakes to make monthly payments toward the debt, and issues them the remaining amount.

Risks and disadvantages of a donor loan

In the case of a donor loan, the risks are borne by both the donor and the recipient simultaneously:

1. To begin with, a donor loan is not a legal way of lending. Therefore, if the bank suspects the client of donation, it may file a petition to verify how the loan funds were spent, which threatens the donor with administrative and criminal liability. In addition, the bank will put the client on a conditional blacklist, which will become a serious obstacle to future borrowing.
2. The second risk for the donor is that the loan is taken out in their name. That is, according to the agreement, they bear the responsibility to the bank. If the recipient disappears or refuses to repay the debt, the donor will have to make the loan payments.
3. For the client, the risk is that this activity is not regulated by the state. Therefore, this sphere is full of scammers, and finding a truly reliable donor is problematic.
4. The second risk for the recipient is that it is practically impossible to prove the fact of debt repayment. In the case of a bank, everything is simpler—after each payment, the borrower receives receipts as proof of loan payment. Here, the client will have to get a receipt from the donor every time funds are deposited.
5. In addition to all of the above, a donor loan is bad because the overpayment on it will be significantly higher than on a regular loan and even a microloan. When taking a loan from a bank, you are required to pay the principal, interest, and insurance, if any. In the case of a credit donor, you will additionally have to pay for intermediary services.
6. As a rule, credit donors only work with large amounts, so getting a loan of up to 100,000 RUB in this way is practically impossible.

Advantages of a donor loan

Oddly enough, a donor loan has fewer advantages than disadvantages:

1. Since the bank's client is the credit donor rather than the borrower themselves, even people with the most negative credit history can get a loan. At the same time, the risk of loan refusal is practically zero.
2. The client is not required to confirm their solvency to the bank. This means that people with low incomes or a high debt burden can get money.

To conclude the article, we will give some tips on how not to become a victim of scammers:

• never transfer an advance payment for services—a credit donor already gets paid for their services by keeping a portion of the funds from the loan obtained for you, so an advance payment in this case is a sign of fraud;
• when concluding an agreement, specify the exact amount that the credit donor received, and also indicate the interest rate and repayment period as stated in the loan agreement with the bank;
• when looking for an organization to obtain a donor loan, pay attention to the company's website, office address and contact information, and customer reviews.