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.
Instant loans to the card
A loan with instant processing will be a good solution for those who urgently need a small amount of money for important expenses. Many large MFCs and MCCs very quickly consider applications and transfer money, so it is better to contact them to apply for an instant microloan. The application can be completed online and money will be received via bank card, e-wallet or money transfer. Here you can find all the information about MFC and MCC, which instantly lend money. When choosing, consider the amount and term, interest rate, requirements for borrowers and other conditions.
Comparison of instant loans
Any adult citizen can get a loan online via the Internet. The rating of the proposals does not differ much. The maximum interest rate is established by law and is no more than 1% per day or 292% per year. Some organizations reduce the rate to attract customers. New borrowers can get their first loan without interest at all. This type of promotion is found in many microfinance organizations.
The minimum and maximum loan amount, as well as the loan term, vary among different microfinance companies. On average, you can borrow from $100 to $1000 for a period from 3 days to 12 months. A microloan can be issued only with a passport, without certificates, collateral, or guarantors.
Advantages
- You will receive money to use almost immediately after submitting your application and reviewing the decision
- To apply for an instant microloan, you often only need a passport
- Some MFCs and MCCs offer ready-made solutions for instant loans. Here you do not need to select an amount or term – just indicate the necessary data in the form
- You can get a loan online 24 hours a day from anywhere in the world
- A microloan is issued without checks and calls, automatically
- The client can choose from a wide range of withdrawal methods for borrowed funds: cash, transfer to a bank account or card, payment to an electronic wallet, money transfer
- You can urgently solve your money problem
- A large selection of different offers is presented
- Free microloans are provided for new clients
- Minimum set of documents required
Flaws
- The speed of consideration of each application greatly depends on the current workload on the IFC and the ICC. For medium and small ones it may be higher
- Sometimes only regular clients of the company can use the instant registration service
- The speed is also affected by the method of transferring money. The speed of transactions may vary for different banks and transfer systems
- High interest rate
- No guarantee of a loan without refusal – there is always the possibility of receiving a negative decision even for trustworthy borrowers
- The dependence of the speed of obtaining a microloan on the workload of the MFO, this is especially evident in small companies
- Availability of instant loan services only to regular customers (for some organizations)
- The relationship between the speed of obtaining a loan and the method of repayment of borrowed funds – banks sometimes delay payment
Getting a quick loan
To apply for a loan with an instant decision, follow the following procedure:
- Study offers on the loan market, reviews of other borrowers, top online services
- Register your personal account on the website of the selected microfinance organization
- Fill in your information
- Create and submit a request for verification
- Wait for an SMS with the company’s decision
- Read the terms of the contract and agree to the offer
- Get money in a convenient way
- Existing MFO clients skip the first 4 points of these instructions and immediately submit a loan application.
How to avoid scammers when getting a loan
To avoid fraudulent attacks when applying for a microloan, you must follow security rules. Do not involve unknown persons in a transaction, do not apply for a loan in someone else’s name, and do not trust strangers to receive your microloan. Do not agree to a loan if you need to contribute your own funds. It’s like a financial pyramid.