A guarantor is a person who is legally responsible if you can't manage to handle your monthly payments. He is therefore obliged to help you pay back your loan if you fail to do so.For the bank to accept your guarantor, he must be a member of your close family (usually your parent), have a permanent job in France and not be in excessive debt. The bank will ask your guarantor for: their last 3 bank statements, their ID, proof of address, their family record book, their last tax assessment and proof of savings.
The Smarto guarantee replaces your guarantor, and simplifies your access to a loan. No more paperwork and difficulties, in a few clicks you become the ideal borrower for the bank!
No, only the payment of your Smarto guarantee when you receive the loan amount in your account.
A trusted advisor is someone close to you (often a family member), whom you can contact in the event of a problem. This person is morally responsible for your behavior. But it's Smarto who will vouch for your loan.
No, you will pay the Smarto guarantee in one go, when you have received the amount of your loan in your account.
Any student of legal age, a citizen of the European Union, residing in France and enrolled or accepted in a school belonging to the Conférence des Grandes Écoles (list here: https: //www.cge.asso.fr/listings/ ). If your school isn't on this list, let us know, and we'll try to add it. We're working hard to be able to guarantee all students!
No, Smarto only replaces your guarantor and puts you in touch with a partner bank. It is with this bank that you take out your loan.
To obtain the Smarto warranty, simply test your eligibility on www.getsmarto.com by filling in our form (less than 5 minutes, watch in hand).
If you're eligible, you'll immediately receive an email enabling you to complete your application online. If your application is accepted, you'll be put in touch with our partner bank and receive a guarantee certificate.
Once your loan has been signed, you'll receive the funds in your account 2 weeks later (after the withdrawal period). The amount of your Smarto guarantee will be deducted directly from the amount of your loan.
Once we've validated your file:
1- You'll receive an online guarantee certificate and a list of partner agencies
2- You'll make an appointment at the agency and get your loan offer
3- Based on this loan offer, you'll be able to sign your guarantee contract online to obtain the final loan
4- You'll return to the agency to sign your loan offer. Once signed, you'll upload your signed loan offer to your Smarto space.
5- Approximately 15 days later, the loan amount will be granted and you'll receive the money in your account, deducted from the amount of the Smarto guarantee.
If you can't reach an agreement with the bank to obtain a loan, you won't have to pay any fees.
Yes, you can change your mind at any time until you receive the money in your account.
On the Smarto side, all we ask is a photocopy of your ID, a certificate of school attendance and proof of residence in France. Finally, we'll also ask for a photocopy of the ID of your support person.
A loan is binding and must be repaid. If you cannot pay back your loan, it is important that you contact us to explain your situation and that we find a solution together. If no solution is found, a debt collection service will take over. This is a legal procedure that can involve bailiffs to seize the money. You will then be banned from banking and will no longer have access to many banking services.
A student loan allows you to borrow money to finance your studies and your student life (rent, transport, supplies, living expenses etc.). The difference is that you have a deferment period, which means that you only start paying back the loan after you have finished your studies. If you want to know more, you can read the following article for advices on student loans.
