3 tips before asking for a loan

In times of economic crisis, as in which we are, when unemployment is high and therefore increase the debts and defaults of individuals and businesses. So to face the expenses and current payments more and more companies and individuals are forced to ask for a quick or personal loan. However, in these situations, financial institutions and credit companies become increasingly prudent when granting loans. And in the most difficult crisis situations, the lenders get to reject around 90% of the credit applications they receive without giving any kind of explanation. In fact, you may have experienced that situation yourself, and you may wonder

What to do before requesting a loan?

What to do before requesting a loan?

Well, although there are no magic solutions, it is true that there are some tips that you must take into account before asking for a loan:

  • First, keep in mind that each lender has its own formula to analyze the risk profile of each of the applicants. In the world of financing, to companies and individuals, this formula is called a rating. And it is an indicator, numerical or with letters, that establishes the financial solvency of the applicant. Normally, the variables taken into account are: the level and recurrence of income, existing debts, equity, estimated recurring expenses, family charges, etc. Knowing your personal rating is essential before asking for a loan.
  • Second, there are different types of lenders specializing in profiles of very different applicants. Some credit companies grant quick loans, other personal loans, and some mortgage loans. So the loan to get depends on the term, the interest rate, and especially the risk policy that the lender has. That’s why before asking for a loan you should know what you need.

And last but not least, you must take into account some basic requirements when applying for a loan. These recommendations are always essential when a bank or a company decides to grant a loan application. So if you do not follow these tips you will have a hard time getting the loan you need, be it fast or personal. And if you get it, you will be forced to pay a much higher interest rate. That is why it is so important that you meet these three requirements.

3 basic requirements to apply for a credit:

3 basic requirements to apply for a credit:

  1. Do not appear in a list of defaulters and unpaid, such as the asnef file.
  2. Have a stable monthly income that can take over your personal expenses as well as the monthly installments of the loan granted.
  3. Have a reasonable level of personal and professional stability. That is, not incurring family responsibilities as children or pensions for food derived from divorces. And especially have a fixed work contract, even if it is not full-time.

Benefits of personal loans online

If you are immersed in a specific problem of lack of money to face an urgent payment, do not doubt that you have come across your possible lifeline. The massive democratization of the Internet has managed to provide us with an operation that until a few years ago was enormously expensive: borrow money. And of course, for something that by definition is in a hurry, getting into a cumbersome paperwork is not exactly a good solution.

The solution, personal online loans

The solution, personal online loans

A few years to this part, the request for small personal loans online has ample advantages, especially to avoid having to deal with the strict requirements of your bank. Undoubtedly, the facilities provided by these personal loans online should be thanked to the easy access we all have to the new technologies. Through the Internet we can get personal loans online that already rival in their conditions, especially in terms of interest, with the classic credits of many banks.

In our company we offer online both fast personal loans and quick microcredit, which is right because it is practically impossible for traditional banks to consider granting the small amounts of money that are often enough to get us out of a hurry.

How personal loans work online

How personal loans work online

At the moment you decide to take the step to request a loan of this type, you will find a simulator on the web that will give you the exact idea of ​​what will cost you that simple operation and how long you will return the money. And above all, you will see something important: no one is going to collapse any unexpected commission or force you to swallow with any linked product.

Well, once you have seriously considered this option, the requirements that in most cases you will have to comply with (do not be scared, they are not much) are the following:

  • Be of age.
  • Have your residence registered in a Spanish municipality, which you will credit with the simple contribution of your ID or NIE.
  • Have a stable source of income, for which you will provide a document that proves it.
  • A mobile phone number to receive SMS messages.
  • A bank account of which you are the holder to deposit the money and a credit or debit card.

Once you have all that clear, choose the amount you wish to receive, from € 200 to € 800, and the term in which you wish to repay your loan, which for those amounts will be a maximum of 6 weeks.

Once your application is approved you will receive an email and an SMS with the details of your credit. If you accept the terms and conditions, you will receive the money in your account in 15 minutes.

As you see, an agile and simple procedure with which you can have the money for your unforeseen expenses.