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.
Cash loans
If you just need cash before payday, or if other processing methods are not available to you, then you can contact the office of a microfinance or microcredit company directly. Some large organizations have distribution points in many cities of our country. On this page you will find out which MFCs and MCCs offer loans in offices and where they operate. When choosing, consider the amount and term, interest rate, requirements for borrowers and other conditions.
How to get a cash loan
To get a cash loan without refusal, you need to select one of the offers from the list and submit an application. Most MCCs and MFCs operating online offer a bank card, account or e-wallet as a way to receive money, but the demand for cash is also not decreasing.
A cash microloan is suitable when cash is needed to resolve a financial issue. This is also a good option for older borrowers who are not accustomed to using online services, and customers who do not want to use their card on the Internet.
For online loans, cash payment is available at the cash desk of the MFO office or at the points of the payment operator. The method of obtaining borrowed funds is indicated at the application stage.
You can choose any point of the money transfer system or the company’s own branch network. Only the borrower can receive money in person upon presentation of a passport and transfer number. If the client contacts the organization’s office, the funds are paid at the cash desk immediately after completing the documents.
Features of a cash microloan
The chosen loan repayment option does not affect its terms, but only the convenience of the client.
Unlike transferring cash to a bank card, money is credited instantly and around the clock. You can get a loan at an operator’s office or outlet only in accordance with the branch’s work schedule. Money is available for one hour, which will not allow you to use it instantly and quickly overcome difficulties. In addition, it will take time to find an MFO that issues funds in cash.
An express cash loan does not require specifying card details on the Internet or searching for an ATM to withdraw money. If the office where you plan to receive the money is located near the client’s home or work, applying for a transfer will not take much time.
What else do you need to know about cash loans?
Why was my loan rejected?
There may be several reasons. Most often, the borrower receives a refusal due to errors in the provided data, non-compliance with stated requirements, problems in the credit history or high debt load. You can reapply after a certain time – 7, 14 or 30 days, depending on the microfinance organization.
Can I refinance a microloan?
Some microfinance organizations offer special programs for combining several debts into one. But it’s easier in this situation to simply take out another microloan from the same or a third-party organization, or apply to a bank for a loan or credit card to pay off the current debt.
Missed a loan payment, what happens?
If the money is not credited to the account on the specified date, the borrower faces a penalty. Penalties and interest will accrue until the debt is fully repaid. Moreover, according to the law, the total amount of debt cannot be more than 1.5 x the original loan.
How to extend a loan?
Microloan extension is a popular service among borrowers. To connect it, you need to sign an additional agreement to the contract; this can also be done online via a code from SMS. You also need to pay the interest already accrued. The renewal period can be fixed or variable at the client’s discretion.