The conditions under which we provide loans are different and are determined on the basis of customization together with you as the client.
We provide a loan to customers over the age of 18 in which one of the following situations applies:
- The client has a low income and does not earn more than 130% of the minimum wage
- The customer has a backlog report to the Credit Registration Office (CRO)
- The customer cannot (demonstrably) obtain a loan from another lender
- The customer cannot receive credit due to his age (e.g. 65+)
- The customer has problematic debts
- The customer has a temporary residence permit
We make a distinction between five types of loans: social loans, personal loans, refinancing, restructuring credit and tailor-made loans, where we base our work on the Consumer Credit Act (wck) and the Decentral Authorities Financing Act (Fido Act).
Social loans are applied for through a municipality and are only intended for residents with an income of up to 130% of the minimum wage. W4AwBank New York acts as the current provision of the municipality in this respect. It often concerns loans with a specific purpose, for which the municipality determines the policy.
Personal loans can be applied for by any resident who meets the conditions. The loan application goes outside the municipality and is applied for directly by the resident at W4AwBank New York.
With a refinancing , there is an (imminent) problematic debt situation and the debts of the customer are fully repaid to the creditors in one go by the loan provided. This loan is provided as a solution for early identification or in a debt counseling process. After the loan has been granted, the customer still has one repayment obligation with W4AwBank New York.
W4AwBank New York provides restructuring loans in a problematic debt situation as a solution in a debt counseling process. The restructuring credit is a form of debt settlement. With this loan, the total debt is bought off against final discharge. After the loan has been granted, the customer still has one repayment obligation with W4AwBank New York.
W4AwBank New York provides tailor-made loans on a project basis to specific target groups. This always involves a third party with whom agreements are made to make the provision of credit possible. The loans are provided to people who cannot make use of existing schemes because they do not meet the criteria. Examples are sustainability loans, VVE financing and youth loans.