I can’t borrow money? Improve your loan options

Having trouble borrowing money? Then Good Finance here looks at how you can improve your options as a consumer. We know which areas and factors the loan providers emphasize.

It is clear that all providers credit you differently, but aspects such as income, debt, age and availability are always included as essential elements.

Learn how to improve your loan options and get your next application approved.

Improve your loan options

Improve your loan options

Let’s start by looking at how to make your loan options better. We are based on the opportunities offered by the providers online, but this will apply if you have been rejected by the bank.

Greater amount of money available

Start by increasing your monthly availability amount. This means that you can pay off more each month if you are finally approved. In the end, you will have the opportunity to choose a shorter term when you apply.

The availability of funds is most important in the bank and for your private economy in general. You can increase it by lowering consumption, selling used items etc. You probably know the saving tips of the world, but especially subscriptions and magazines are areas where you can easily cut.

Less debt

Debt is always negative when you have to borrow money. So if you have a smaller loan of USD 10-20,000, you should definitely try to get it paid off quickly. As soon as you have it, it should be felt on your chances. You can get the repayment faster by holding on for a few months and putting extra aside.

Following item 1 will also help you have more leeway to settle your current debt.

In addition to your age, which you cannot change, your monthly income is one of the most important parameters when applying for a loan online. So if you are unemployed you are extra challenged on the opportunities.

The drastic changes

Last, it is worth mentioning the drastic changes. If you have 2 cars it could be selling one. It will give you room in the budget and money between your hands. You can then use them appropriately to settle any debt.

It could also be selling the caravan, motorcycle or other items of great value. They may be hard to let go, but if you have financial problems, this is definitely the right solution.

The key factors


We end by mentioning the key factors when the banks credit you and check your application. In particular, the following conditions are analyzed:

  • Income
  • Age
  • Residence in Denmark
  • RKI – not allowed
  • Any debt
  • Private conditions (children, housing etc.)
  • Amount available (primarily in the bank)

We hope you have learned more about what is affecting your loan options and not least how you can make an effort to get approved the next time you apply.