solutions dedicated to temporary workers

Of Dorotea Pierry May 17, 2022
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Interim credit: 3 specific banking solutions

If you have the ability to use traditional banking, keep this in mind 3 solutions dedicated to temporary workers are available for your loans.

To access it, the following conditions must be met :

  • Being on a temporary assignment when you apply for an interim loan or have been in the previous 30 days
  • Have at least 414 hours of seniority Meanwhile
  • Works in France
  • Not be subject to a banking ban

These interim loans will allow you to borrow :

  • From 500 to 12,000 euros (subject to acceptance of your case by the CA Consumer Finance lender)
  • To finance various projects such as obtaining a driving license, buying a vehicle, carrying out works, etc.
  • Without having to pay the registration fees

Good to know : for each of the 3 loans presented below it is possible to take out additional insurance appropriate to your project.

Economic project: “Mini project loan” for temporary workers

The “Mini Project Loan” is the easiest loan for temporary workers to obtain. The money borrowed with this credit can be used for any project, although you will need to specify the dedicated usage at the time of your request.

The loan of the Mini project is :

  • A loan for an amount between 500 and 1,599 euros
  • A repayment period of between 12 and 36 months
  • No registration fee charged

Example :

Borrow € 1,000 in 24 months as part of a mini loan for temporary worker projects. The conditions will therefore be as follows:

  • Amount of monthly installments: € 44.59 (excluding optional insurance which here amounts to € 1 per month, with an effective annual insurance rate of 2.356%)
  • Fixed annual effective rate (APR): 6.80% (fixed borrowing rate: 6.597%)
  • Total amount due: € 1,070.16

Provisional credit: the “Personal loan for projects” up to 12,000 euros

With the “Personal Project Loan” you can also finance the project you prefer, but with larger amounts.

The Personal Loan Project is :

  • A loan for an amount between € 1,600 and € 12,000
  • A repayment period of between 12 and 60 months
  • No registration fee charged

Example :

Borrow € 5,000 in 48 months as part of a Personal Project Loan for temporary workers. The criteria will therefore be as follows:

  • Amount of monthly payments: 116.24 euros (excluding optional insurance which here amounts to 5 euros per month, with an effective annual insurance rate of 2.302%)
  • Fixed annual effective rate (APR): 5.62% (fixed borrowing rate: 5.480%)
  • Total amount due: € 5,579.52

A loan dedicated to precarious workers for the purchase or repair of a vehicle

With the “Personal car loan” you can only finance the repair or purchase of a vehicle. The personal car loan is:

  • A loan for an amount between € 1,600 and € 12,000
  • A repayment period of between 12 and 60 months
  • No registration fee charged

Example :

Borrow € 7,000 in 48 months as part of a Personal Auto Loan for temporary workers. In this case, here are the loan conditions:

  • Amount of monthly payments: 160.64 euros (excluding optional insurance which here amounts to 7 euros per month, with an effective annual insurance rate of 2.304%)
  • Fixed annual effective rate (APR): 4.93% (fixed borrowing rate: 4.822%)
  • Total amount due: € 7,710.72

Good to know : the CAF can also help you finance the purchase or repair of a car if this project is related to your professional integration (Learn more).

Social credit for temporary workers: supported microcredit

Accompanied microcredit is a solution for precarious workers seeking to finance a project as part of their mobility and professional integration:

  • Not being able to borrow through the traditional banking system
  • With lending capacity (even limited)
  • who work in France
  • Who has a temporary assignment at the time of the provisional loan request or who has been in the previous 30 days

Accompanied microcredit is :

  • A loan amount of between 300 and 5,000 euros maximum
  • A repayment period of up to 36 months
  • The possibility of financing various projects such as the passing of the driving license, the purchase or repair of a vehicle, the expenses related to a facility near the workplace, etc.

Good to know : accompanied microcredit is not offered by traditional bank branches, but by credit organizations for temporary workers who are partners of the Social Action Fund for Temporary Work (Fastt), which must be approved by the Caisse des dépôts. The selected organization will provide you with personalized support to better manage your deadlines.

Your temporary status allows you to take advantage of it the accompaniment of the Fastt during various projects, and particularly when trying to get credit.

Do not hesitate to contact Fastt to obtain a personalized diagnosis of your loan project and find the solution that best suits your situation.

This advice is all the more valid if you have been rejected by the bank, because Fastt has many financial partners with no preconceptions about temporary work.

For this you can :

Every year, Fastt provides nearly 50,000 “credit counseling points” to temporary workers. In 2019, following these diagnoses, more than 4,000 loans were granted. A quarter of them took the form of assisted microloans and 90% involved the purchase of a vehicle.

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