The microcredit company FinaGuru issues short-term and long-term online loans to individuals. The organization does not have a branch network; it operates remotely via the Internet.
Creditnice is a microfinance company operating since 2013. It specializes in loans with online processing, including to pay for purchases from partners; it also issues virtual credit cards and provides credit lines.
Is it possible to get a loan without a passport?
You cannot apply for a loan without a passport. If the document is temporarily not available, and you need money urgently, you can contact the microfinance organization that has previously issued money to the borrower – his data is stored in their database, and to issue a loan, only their reconciliation will be required.
Clients applying to microfinance organizations for the first time will in any case need to provide their passport data, but this can be done in the following ways:
Provide a scan or copy of your identification document
Confirm your identity through your personal account on State Services, where all the client’s personal data is stored
In addition, you can use other official documents with the name and photo of the owner:
- international passport
- Temporary identity card issued during the period of replacement of the main document (validity period – 10 days)
- Military ID or temporary certificate of a person liable for military service
- Driver’s license
- Diplomatic or service passports
- Seaman’s passport
- Not all companies accept the above documents. We recommend checking the information with the selected microfinance organization.
Advantages and disadvantages
Advantages of applying for a loan without a passport
You can get a loan quickly and without unnecessary problems. A loan application is usually processed in no more than 5 minutes
You can apply for a loan online without leaving your home. The borrower does not need to go anywhere; he can apply for a loan at any time of the day
You can get money by any means. Both non-cash – to a card or e-wallet, and in cash at the office of a microfinance organization
Disadvantages of applying for a loan without a passport
Additional documents may be required to apply for a loan.
It is unlikely that an MFO will approve a large amount of money without a passport (a deposit may also be required)
It will be difficult to get a loan with a bad credit history and arrears
What else you need to know about microloans
How to increase your chance of loan approval?
To increase your chances of receiving a loan, it is recommended that you fill out all the information in the application form in detail. The borrower may also be required to provide additional documents. A good credit history and low debt load also increases your chances of getting a loan.
How to get a loan with a reduced interest rate?
Some companies provide loans with a low interest rate, subject to submitting an application through the State Services website. In this case, applying for a loan will be simplified; the borrower will not have to fill out a form, since all the data is already in the system.
Also, some microfinance organizations provide a discount for regular customers. If the borrower constantly takes out loans and pays them off without delay, then he will be able to issue subsequent ones at a rate of 0.9-0.8% per day or even lower.
Is it possible to get a loan without having an official income?
Yes, a loan can be issued to a borrower even if he does not have an official income. The most important thing is that the client’s income is sufficient to repay the loan.
Is it possible to extend the loan?
If it is not possible to pay the full amount of the loan, then it is better to extend it. Loan extension is allowed for up to 2-3 weeks. In this case, the borrower must pay interest. If you have a difficult situation and there is no way to pay the loan, then it is recommended not to hide from the MFO, but to call the company’s hotline and explain the situation. The call center specialist will offer the best way out of the situation.